Lots of new drilling going on in my corner of southern Michigan these days.
PEAK OIL!
An interesting development. Obviously, cleaner ways of extraction are necessary, but now we know that it can be done.
The governing class wrings its hands and their media idiots flood the news outlets with stories wondering what will lead us out of our economic doldrums. They ignore the one industry, the energy industry, that could ignite the economy and seriously reduce our balance of trade problems.
Remove the barriers to oil/natural gas production as well as the nuclear industry and let our entrepreneurs, engineers and skilled workers lead the way. If we were to do this maybe foreign leaders might be more inclined to work with a future President when he goes abroad. Tell the man-made Global Warming crowd to pound sand; unemployed Americans will become increasingly less receptive to their fraudulent studies.
1) Abiotic production is a fact (it gets replenished as a geological activity side-effect, not dinosaur compression)
2) Barry will do something to stop this blatant threat to the bottomless funneling of American wealth to his Saudi masters.
In a related matter, Oxy Petroleum recently made public a discovery of 150-250 barrels of gas and oil in Kern County, CA in the same area as an existing oil field that was first tapped in 1894 and is still producing.
Wait until Mr. Mouch hears about this.
The higher the price of oil the more domestic drilling.
When oil prices fall, so will domestic drilling.
Cheap domestic oil is fantasy.