Definitive evidence that President Obama has NOT increased the production of oil or gas from Federal lands since becoming President. Other sources put the production in the Gulf of Mexico down 30%, partially compensated for oil produced by “fracking” on indian reservations (i.e. not technology or territory under the direct control of the administration.)
The discovery of oil production as a side effect of “fracking” (designed to recover natural gas from rock formations) has been a boon to the industry, vastly expanding the amount of recoverable oil in the United States. Private land is being exploited across the nation, with the biggest boon state being North Dakota and Pennsylvania. The new gas reserves found in Pennsylvania has been sufficient to lead to investments in new iron mills, once thought lost forever due to the high price of fuel before the discovery of “fracking”.
This technology has the potential to provide over 100 years of fuel for our nation, freeing us from dependence on foreign oil, reversing the balance of payments problem, deflating the National Debt via an influx of royaltee money and taxes on oil profits, employing millions of people in revitalized manufacturing made possible through cheaper fuel prices, leading to a reversal of the American decline!
Why are we not fracking, drilling, piping, refining and exporting everywhere we can? Much of the richest reserves are on government land and environmental concerns are currently blocking exploitation. Note: horizontal drilling as used in fracking means that very little of the surface area is disturbed while exploiting huge areas of reserves. This is NOT true of wind or solar farms that require very large surface areas dedicated to the production of energy.
Natural Gas (CH4) is very nearly as clean burning as the environmental ideal “hydrogen” economy, producing only one CO2 molecule for every 2 H2O molecules when burned. All other fossile fuels produce more CO2 and many complex hydrocarbons as byproducts. Due to the mercury and other minerals disolved in oil and coal, that are NOT present in Natural Gas, even when ignoring the CO2, the enviromental impact of CH4 is vastly superior.
Let’s take full advantage of what our nation has been blessed with…. Frack away!