Fracking Good for You – The New Not-now-savin-da-planet.
WALL STREET JOURNAL
The North American Gusher
By MARY ANASTASIA O’GRADY
December 9, 2012, 6:42 p.m. ET
We’re just beginning to tap the continent’s vast hydrocarbon resources.
“…Since becoming president, Mr. Obama has treated hydrocarbon production like an infectious disease to be eradicated…. “
“….If Mr. Obama is serious about exports, he will need to lose his stale ideas on energy, which date back to the 1970s. In a recent paper titled “Unleashing the North American Energy Colossus,” Mark Mills, a resident scholar at the Manhattan Institute, describes the continent as “awash in hydrocarbon resources . . . more than four times greater than all the resources extant in the Middle East.” To tap that wealth, Washington should throw off the regulatory status quo “anchored in the idea of shortages and import dependence,” Mr. Mills writes. “A complete reversal of thinking is needed to orient North America around hydrocarbon abundance—and exports.” Among the world’s oil and gas producers, the U.S. is now growing the fastest…. “
“…Canadian production also is expanding, thanks to smart government policies. Prime Minister Stephen Harper has made resource development a key cog in the Canadian growth wheel. If the Obama administration continues to deny a permit for TransCanada’s TRP.T +0.34%Keystone XL pipeline to U.S. refineries, Mr. Harper has said that Canadian product will be sold elsewhere. He has also warned American environmentalists that he won’t allow them to treat Canada like a national park where development is verboten…”
“…A Mexican revolution in energy might be brewing too. Geologically the country is likely to have reserves similar to those of its North American neighbors….”
So much for peak oil – Yah! bring back the V8! Vive La Muscule Car! Prosper again.