[muawiyah]

There are two big differences between the US and the EU. First off we in the US have made a tremendous investment in heavy metals ~ which the EU has not.

Then, there's North Dakota ~ latest government estimate of the value of the recoverable hydrocarbons there is pretty close to 1000 trillion dollars. Our national debt, at 17 trillion, is a small fraction of that.

[cicero2k]

Then, there's North Dakota ~ latest government estimate of the value of the recoverable hydrocarbons there is pretty close to 1000 trillion dollars. Our national debt, at 17 trillion, is a small fraction of that.

Do you have a link?

At $100 per barrel ND has 10 trillion barrels equivalent?

Last I heard 10 billion barrels was optomistic.

But the point is one I would have made comparing us to Europe. As in last century, we produce cheap energy and Europe does not. The outcome will be similar.