Around the Nation: An Unreported Milestone
November 2012 was historic, but perhaps not for the obvious reason. In an era when "green" is promoted everywhere and subsidized heavily with tax dollars, it escaped the news cycle that the government's own Energy Information Administration determined that last November was the month the United States passed Saudi Arabia to become the world's top oil producer. And while Barack Obama has, at times, tried to take credit for this achievement, it's worth repeating that his regime has placed roadblock after roadblock on domestic production on federal lands. This boom is taking place almost entirely on private or state property.
There's no question this boom is continually threatened by overzealous EPA regulators as well as revenue-hungry Democrats in Congress who see oil companies as a drilling well for taxation. Moreover, it's worth pointing out that a federal permitting process that averages more than 10 months for Uncle Sam gets a 10-*day* turnaround in North Dakota -- hence, that state is booming with the nation's lowest unemployment rate. And by the way, North Dakota is also building the first new refinery in the U.S. since 1976.
The energy turnaround has been nothing short of amazing, despite the best efforts of the Obama administration to thwart it. A nation that imported 60 percent of its crude oil just five years ago is on a path to cut that in half by the end of this year, with some in the industry beginning to believe North American oil independence is possible once again. But as we saw with the coal industry, a concerted effort to make oil prices "necessarily skyrocket" like electric rates could throw a monkey wrench into these optimistic plans. The radical environmentalists wouldn't want us to pay $2 or less for a gallon of gas again, would they?
Post a Comment