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UN report: US can quickly become a vast energy power and exporter of cheap energy
American Thinker ^ | December 8, 2010 | Ed Lasky

Posted on 12/08/2010 4:48:46 PM PST by jazusamo

For the past year or so I have been writing about the vast wealth America has beneath our feet in the form of shale gas. We have huge amounts trapped in shale rock that can be liberated by blasting it open via a process called hydraulic fractioning ("fracking"). Wells are drilled horizontally miles underground and then a stream of water, sand, and a minor amount of chemicals fracture the rock and release the gas. All this happens far below the surface and the water tables. Natural gas is relatively clean-burning, is on-shore, and is ours.

Now comes a report from the UN (of all places) that asserts America can be on the verge of energy independence and can become one of the world's great exporters of energy because of our shale gas and oil reserves. Natural gas is the one commodity that has been plummeting in price and delivering an economic jolt of its own for consumers more accustomed to higher energy prices.

From the Washington Examiner that picked up a report from Canada's Globe and Mail :

Toronto's Globe & Mail quotes a UN report that includes this observation: "Within a decade or so, North America will almost certainly emerge as the world's biggest supplier - and exporter - of reasonably cheap energy."

How can that be? As The New York Times reported last month, it's because the U.S. is incredibly rich with natural gas and oil shale deposits that can be reached affordably using hydraulic fracturing, the injection of liquids into rock formations thousands of feet below the drinking water table.

The injections force the gas or oil into recoverable areas, thus opening up millions of new barrels of oil and trillions of feet of natural gas for production here in America.

These new resources are having a profound impact on the U.S. energy situation and it's happening right now, not off in some projected future, as is the case with the arrival of alternative energy resources like solar, wind, and biomass.

Intrigued? Here's more detail from the Globe & Mail:

"With rising production from shale fields, the U.S. surpassed Russia last year to become the world's largest supplier of natural gas.

"Shale now accounts for 10 per cent of the country's natural gas production - up from 2 per cent in 1990. Chesapeake's production from its next Texas project, expected by the end of 2012, will by itself supply the energy equivalent of 500,000 barrels of oil a day.

"For new oil, the U.S. has the huge Green River play that overlaps Colorado and Utah, one of the largest shale oil fields in the world. The EIA reports that the country's proven reserves of crude rose last year by 9 per cent to 22.3 billion barrels.

"For natural gas, the U.S. has the four largest fields in the world: the Haynesville field in Louisiana (with production up by 77 per cent in 2009); the Fayetteville field in Arkansas and the Marcellus field in Pennsylvania (both with production up by 50 per cent); and the Barnett field in Texas and Oklahoma (with production up by double-digit increases).

"The EIA reports that proven U.S. reserves of natural gas increased last year by 11 per cent to 284 trillion cubic feet - the highest level since 1971."

It is all there for the taking. But Democrats threaten to plug all those holes warming our homes and saving us money. Meanwhile, oil prices are going through the roof -- helped along by the Obama administration's efforts to stop oil drilling off-shore, take land out of commission for exploring, and impose new rules and regulations.

Not only do they overtly and covertly favor green schemes that try to kill carbon in all forms,  they have tried to enact one roadblock after another to stop us from tapping our shale gas and oil reserves (see, for example, my columns "Cheap Natural Gas and Its Democratic Enemies,"  a follow-up to my previous column Cheap Natural Gas and Its Enemies).

Who would benefit from stopping this energy revolution in its tracks? George Soros, environmentalists, green schemers that need government help (subsidies, investments, mandates) to make their ventures fly -- and who reward Democrats with donations, Russia, Hugo Chavez, Arab oil powers, terrorists, and other assorted international bad actors. The Russian government recently expressed concern regarding their international power because America was developing our shale gas resources.

Those are the groups Democrats help when they curtail our own development of this treasure beneath our feet. Nice company to keep, huh?


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: democrats; energy; naturalgas; shaleoil

1 posted on 12/08/2010 4:48:55 PM PST by jazusamo
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To: steelyourfaith

Ping!


2 posted on 12/08/2010 4:51:18 PM PST by jazusamo (His [Obama's] political base---the young, the left and the thoughtless: Thomas Sowell)
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To: jazusamo

That’s why I like Palin...one the biggest advocates for domestic energy production.


3 posted on 12/08/2010 4:52:07 PM PST by ak267
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To: ak267

Agreed, she realizes it’s a win win situation going after our own energy.


4 posted on 12/08/2010 4:55:40 PM PST by jazusamo (His [Obama's] political base---the young, the left and the thoughtless: Thomas Sowell)
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To: jazusamo

Bookmark


5 posted on 12/08/2010 4:56:07 PM PST by delacoert
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To: jazusamo; Defendingliberty; WL-law; Normandy; TenthAmendmentChampion; FrPR; enough_idiocy; ...
Thanx jazusamo !

 


Beam me to Planet Gore !

6 posted on 12/08/2010 5:02:34 PM PST by steelyourfaith (ObamaCare Death Panels: a Final Solution to the looming Social Security crisis ?)
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To: jazusamo
US can quickly become a vast energy power and exporter of cheap energy

"Progressives", other communists and America Haters will be up all night chewing their nails to the quick.

Seeing America become energy independant and bounce back from the depression they have put us in is the last thing they want to see.
It would be one of their worst nightmares come true.


7 posted on 12/08/2010 5:14:15 PM PST by Iron Munro (This is our culture; fight for it. This is our flag; pick it up. This is our country; take it back.)
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To: jazusamo

bttt


8 posted on 12/08/2010 5:16:25 PM PST by TEXOKIE (Anarchy IS the strategy of the forces of darkness!)
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To: Iron Munro

I agree, it seems we may finally be reaching the point where many more people realize the enviro nazis have been our worst enemies when it comes to energy independence.


9 posted on 12/08/2010 5:20:34 PM PST by jazusamo (His [Obama's] political base---the young, the left and the thoughtless: Thomas Sowell)
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To: jazusamo

I wonder if the coal industry has been lobbying against natural gas. Foes of natural gas seem to have access to a lot of money lately.


10 posted on 12/08/2010 5:26:32 PM PST by Our man in washington
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To: jazusamo

Of course we can. Problem is liberals and spineless repubs won’t allow us to become just that.


11 posted on 12/08/2010 5:27:14 PM PST by vpintheak (Obama sez I'm an enemy and I will be punished. My Savior has overcome the world.)
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To: jazusamo

Whoever runs on a cheap energy platform will have a message that will resonate with voters. A major part of that platform will be restoring the strength of the American dollar.
We can have less than $1/gallon gas if we have the will to squash the enviro-nuts.


12 posted on 12/08/2010 5:31:23 PM PST by Brett66 (Where government advances, and it advances relentlessly , freedom is imperiled -Janice Rogers Brown)
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To: Our man in washington

That wouldn’t be surprising at all. The different groups and politicians fight against each other instead of doing what’s best for the country.

There’s a place for all of it, IMHO.


13 posted on 12/08/2010 5:37:25 PM PST by jazusamo (His [Obama's] political base---the young, the left and the thoughtless: Thomas Sowell)
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To: jazusamo
Meanwhile, oil prices are going through the roof -- helped along by the Obama administration's efforts to stop oil drilling off-shore, take land out of commission for exploring, and impose new rules and regulations.

To say nothing of the Ben Bernank's redoubled efforts to lower the value of the dollars used to pay for said oil.

14 posted on 12/08/2010 5:40:45 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: jazusamo

The faster oil increases in price the closer we get to some energy independence, jobs and good profits. The oil and gas Obama is keeping in the ground now is money in bank, growing in value.

You may wish to invest with that in mind, assuming you have a flexible time horizon for realizing profits.


15 posted on 12/08/2010 5:52:11 PM PST by SaxxonWoods (Gone Galt and loving it)
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To: SaxxonWoods

We can see the impact all this new gas is having on the month price. There are some $3.95-$4.25 deals out there...


16 posted on 12/08/2010 5:58:15 PM PST by Eric in the Ozarks (Impeachment !)
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To: jazusamo
It's not just natural gas. The good old USA has more petroleum than anyone besides Saudi Arabia and Russia, more coal than anyone period, and a reasonable supply of Uranium. The U.S. has always been at or near the top of energy production worldwide, and this latest information certainly doesn't change that.

There is one big benefit to dependence on foreign energy: When theirs runs out (and it won't be soon), we'll still have ours.

17 posted on 12/08/2010 6:10:21 PM PST by Batrachian (Barack Obama was elected because people thought they where voting on American Idol)
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To: jazusamo

Eliminate the DOE and let the states have the money for energy development.

We need the entire triumvirate of proven American energy products - Nuclear, petroleum and coal.

Let the cost of upgrading the grid be borne by our quickly burgeoning energy sector - deregulate it all.


18 posted on 12/08/2010 6:11:55 PM PST by 1010RD (First Do No Harm)
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To: jazusamo

OK, so how can we create a proposal to lease rights to develop this resource and use the lease income to reduce the federal debt? It seems to me that a well constructed proposal along those lines could create a good bit of populist traction. Kills the twin albatross of energy dependence and runaway debt with one well cracked shale stone, potentially.

Other than the fact that the Obamassiah “won’t allow it”, am I missing out on a legit, market-based reason why we don’t have a full court press on this?


19 posted on 12/08/2010 7:05:31 PM PST by concerned4mysonsfuture
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To: Batrachian

“There is one big benefit to dependence on foreign energy: When theirs runs out (and it won’t be soon), we’ll still have ours.”

Our money will run out first, long before their oil runs out.


20 posted on 12/09/2010 12:50:57 PM PST by TexasRepublic (Socialism is the gospel of envy and the religion of thieves)
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To: TexasRepublic
"Our money will run out first, long before their oil runs out."

True but irrelevant. Their oil is cheaper in the first place, and oil companies are multinational corporations. When we buy oil from Texas or Alaska, the money doesn't somehow end up back in the people's pocket, except in a very small way from taxation and fees. It ends up in the pockets of Exxon, BP and others. We're not like Saudi Arabia or Norway where the government owns the oil companies.

21 posted on 12/10/2010 4:44:25 AM PST by Batrachian (Barack Obama was elected because people thought they where voting on American Idol)
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