Tuesday, February 21, 2012

This article points out that there is an oil boom going on in the United States right now.

No thanks to this administration, which has done everything it can to make 8 dollar a gallon gas a reality.

"President Obama's Secretary of Energy is former Berkeley physics professor Steven Chu, who said in 2008, "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe." We still have a way to go to achieve Secretary Chu's goal. The average price for a gallon of gas in Europe is over $8."

Not if private American oil and gas companies have their way.

"The technology that fueled the national shale gas rush is moving into oil fields. The pairing of fossil fuel production techniques called horizontal drilling and hydraulic fracturing allowed companies to access previously hard-to-reach natural gas trapped in dense shale rock."

That technology, which the government had nothing to do with developing, has already vastly increased the supply of natural gas, and dropped the price significantly.
The oil price is determined globally, but if even part of the projected oil bounty that is now available here in the states is realized, we could approach or even reach energy independence. 
Faster, please!

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