Oil, Natural Gas are Saving the American Economy

Oil, coal and natural gas have given the world its current prosperity. Yet somehow the liberals and environmentalists claim otherwise when in fact it is inefficient ‘green energy’ that is bankrupting us. Wind and solar power also have done huge damage to Euro economies like Spain.

To demonstrate reality twincities.com, a website of the newspaper in St. Paul, Minnesota, recently reported:

The U.S. oil and gas industry is investing confidently in infrastructure the near future, according to a recent report on infrastructure investments.

Those investments, of a projected $890 billion over the next 12 years, will pump the national economy with hundreds of thousands of jobs along with the ripple effects of a workforce with more spending money.

The investments will break down into an especially strong year this year, carrying over from a “banner year” in 2013, and will sustain at annual investments of at least $80 billion in midstream and downstream infrastructure until 2020.

The report noted developing shale formation areas, such as the Bakken in North Dakota and Eagle Ford in Texas, will require more extensive investments in gathering and support facilities because they are not historic production regions. (end of twincities.com excerpt)

This is what we need for economic growth – private investment in vital products and resources, not in internet sites like Facebook. Meanwhile the “investment” Obama talks about again and again is taxpayer “investment” (government spending) in failing entities like ‘green energy’ and Amtrak and the public schools and Obamacare, which cannot even build a website never mind tend to millions of sick Americans. Now here is a report from bloomberg.com:

Want to know how the U.S. managed to narrow its trade deficit to the smallest figure in four years? Look no further than Texas, North Dakota, and other states where oil production is booming.

The U.S. Commerce Department released data today showing that the trade deficit in November was the narrowest since October 2009. “The shale revolution and increased energy efficiency have pushed the U.S. a long ways towards energy independence in recent years,” Morgan Stanley economist Ted Wieseman wrote in a bulletin to clients. He noted that as recently as 2006, the inflation-adjusted deficit in oil trade was $266 billion. In 2013, through November, it was on track to shrink to $107 billion.

The U.S. isn’t the new OPEC; through November, imports of crude oil in 2013 were still 60 times as big as exports of crude. But the improvement is nonetheless real. The nation’s crude import bill was down about 14 percent from a year earlier, through November, because demand was satisfied by domestic fields instead of foreign ones.

The November trade improvement was big enough to get economists to mark up their estimates for fourth-quarter growth in the entire U.S. economy. Barclays Research, for example, raised its fourth-quarter growth estimate by half a percentage point, to 3.3 percent. (end of bloomberg.com excerpt)

So what does this all mean? Well, think about Obama and his policies. He and most Democrats are anti-oil, anti-coal, anti-pipeline and anti-natural-gas environmentalists. Yet oil and gas are keeping the US economy afloat today. If it were not for oil industry production and “fracking” for natural gas along with the vibrant economies in Republican states like Texas and Georgia the Obama Depression would be crushing the nation.

Now here is more about how the environmentalists are thwarting our economy. This is from foxnews.com:

Stymied by the GOP’s long resistance to cap and trade legislation, the EPA this week began public hearings — the next step toward a final rule — to cut carbon dioxide emissions from new coal plants.

The rule would limit emissions to 1100 pounds per Megawatt hour, a level the coal industry says is technologically unattainable. Green energy proponents disagree.

… But the coldest winter in recent memory is reminding Americans of the need for fossil fuels. A bitter cold January in the Midwest sent propane to a record high of $4.24 a gallon. Heating oil also hit a record high of $4.18 a gallon. Amid record cold in the South, where most homes use electricity for heat, the Texas power grid took emergency measures to avoid a blackout.

In Europe – years ahead of the U.S. in green energy usage – many governments are re-investing in fossil fuels as customers protest rising electricity rates.

…”The global warming scientists from the UK, and U.N. scientists like Michael Oppenheimer had said snow was a thing of the past,” says Marc Morano of Climate Depot, a website devoted to countering claims of man-made global warming. (end of foxnews.com excerpt)

It is important to remember that one of the outrageous claims of environmentalists over the last 20 years was that we would never see snow again, that the earth is burning up. Meanwhile the US now is in one of the snowiest decades of the last 100 years and the deep freeze of January-February-March 2014 will be remembered as perhaps the coldest winter ever.

Still the enviros continue to promote the ‘warming’ bogeyman. Why? It is all about money. Here is one example of thousands: Democrat governor Deval Patrick of Massachusetts recently proposed $52 million in state spending for communities to plan for ‘climate change’ (which is what they call ‘global warming’ in the Winter). At the same time Obama has pitched a $1 billion ‘climate change resilience fund’ to help communities to deal with what is alleged to be the negative weather effects resulting from ‘warming’ or ‘climate change’ or whatever they are calling it these days.

This is how they use this fake crisis to generate more and more government spending. They plan to give this money to towns and cities – many of which are desperate for cash – but of course it all will be pocketed by “environmentalists” to concoct some end-of-the-world contingency plan for something that is never going to happen. And this is all happening as fewer and fewer people even believe in ‘warming’ after it has been slavishly promoted for years by the Liberal Media.

Think about this idea of preparing for so-called ‘climate change’. Where would you expect to see this already happening today if ‘climate change’ were real?

Answer: They would be building walls around sea-level cities like New York and Boston because the ‘climate change’ alarmists are saying that the seas are rising and that the cities are going to flood. But there are no walls being built because the seas are not rising. Because ‘climate change’ is a fake theory that even its proponents don’t believe. Otherwise they would be building walls.

At the same time the alarmists claim that “the world is running out of oil” which is false. In fact the nation of Israel, which long has believed that it is the only Middle Eastern nation without oil, recently discovered that it may have more oil than Saudi Arabia, deep underground in oil shale formations, up to 400 billion barrels. It requires a different type of technology to get it but it will be developed. After all who would have believed in “fracking” or any of the other modern oil technologies just a few decades ago. Meanwhile advancement in oil extraction technology is coming faster and faster every year as the ‘greenies’ falsely continue to predict “the end of oil”.

Look at this outrageous quote from ecologist Kenneth Watt from 1970: “By the year 2000, if present trends continue, we will be using up crude oil at such a rate… that there won’t be any more crude oil. You’ll drive up to the pump and say, ‘Fill ‘er up, buddy,’ and he’ll say, ‘I am very sorry, there isn’t any.'”

So tell that to Israel. The global energy supply is expanding rapidly. Now here are some facts about oil and natural gas in the United States which were quoted in another recent Nikitas3.com editorial:

*The Marcellus Shale natural gas field in the Northeastern US is estimated to have 600 trillion cubic feet of gas. It was unknown 20 years ago. In just a few years of tapping a small part of Marcellus we have seen natural gas prices sink into the basement.
*The Prudhoe Bay oilfield in Northern Alaska, which was discovered in the 1960s and which pumps its oil through the Trans-Alaska Pipeline, was estimated originally at 1 billion barrels. By the time it is pumped out in 2015 it will have produced 18 billion barrels.
*The ANWR oilfield near Prudhoe Bay may have 20 billion barrels of oil or more. Environmentalists are preventing us from getting it.
*The Bakken formation in North Dakota and southern Canada is estimated at 40 billion barrels. It was unknown 10 years ago.
*The United States is estimated to have up to 2 TRILLION barrels of oil in shale formations in just one corner of Colorado and Utah. (Oil shale is a wax-like oil that is trapped in rock layers.) Meanwhile the whole world has used about 1 trillion barrels since the beginning of the modern oil age in 1859.
*Methane hydrates are ice-like methane (carbon fuel) deposits on ocean bottoms all over the globe that may be vastly bigger than even our global natural gas supplies, which have barely been tapped anyway.
*All of these above-mentioned supplies are just a tiny sliver of the world’s known oil and natural gas, while the world is largely unexplored or underexplored. In fact we keep finding more and more oil in places like Israel and in the United States, places that environmentalists have been claiming for decades have no oil, or will never have new supplies. In fact the opposite is true as all of the apocalyptic claims of environmentalism have been proven false over and over.
Conclusion: The world has massive amounts of carbon fuels while these environmentalists have been calling oil and gas “finite” resources. In fact they may be quite the opposite and they are saving us today with their great energy content and extraordinary value to mankind.

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