Fracking saved the Obama administration, its only baleful effect. Other than that, the U.S.’s emerging energy dominance is one of the great developments of recent times. It is ironic that our myopic press obsesses on trivialities like Russians posting on Facebook, while largely ignoring the geopolitical implications of the policies that are freeing up U.S. energy production.
Finally, I can’t resist an “I told you so.” I have written many times over the years–e.g., here, here, here, here, and here–that Barack Obama in particular, and liberals in general, have long lied to the American people about energy.
Most people think Obama’s worst lie was “If you like your health insurance, you can keep your health insurance.” I disagree: I think Obama’s worst lie was his oft-repeated claim that the U.S. can’t drill its way out of our alleged energy shortage because we have only 2% of the world’s petroleum reserves, but consume 25% of the world’s petroleum. What Obama and his fellow liberals never said was that “reserves” is a legal term of art in the U.S. (unlike, say, Saudi Arabia and Russia). “Reserves” is defined by the Securities and Exchange Commission. It doesn’t mean oil in the ground, as Obama knew most people would assume. Rather, it means petroleum that is profitably recoverable under current law and at current prices.
http://www.powerlineblog.com/archives/2018/03/the-worlds-energy-superpower-us.php
Finally, I can’t resist an “I told you so.” I have written many times over the years–e.g., here, here, here, here, and here–that Barack Obama in particular, and liberals in general, have long lied to the American people about energy.
Most people think Obama’s worst lie was “If you like your health insurance, you can keep your health insurance.” I disagree: I think Obama’s worst lie was his oft-repeated claim that the U.S. can’t drill its way out of our alleged energy shortage because we have only 2% of the world’s petroleum reserves, but consume 25% of the world’s petroleum. What Obama and his fellow liberals never said was that “reserves” is a legal term of art in the U.S. (unlike, say, Saudi Arabia and Russia). “Reserves” is defined by the Securities and Exchange Commission. It doesn’t mean oil in the ground, as Obama knew most people would assume. Rather, it means petroleum that is profitably recoverable under current law and at current prices.
http://www.powerlineblog.com/archives/2018/03/the-worlds-energy-superpower-us.php