All the news that’s fit to print isn’t negative. And when our country again has enlightened leadership the following good news regarding American energy reserves is going to be at the center of the economic recovery. Two articles on the topic:
The United States is overtaking Russia as the world’s largest producer of oil and natural gas, a startling shift that is reshaping markets and eroding the clout of traditional energy-rich nations, says the Wall Street Journal.
U.S. energy output has been surging in recent years, a comeback fueled by shale-rock formations of oil and natural gas that was unimaginable a decade ago. A Wall Street Journal analysis of global data shows that the United States is on track to pass Russia as the world’s largest producer of oil and gas combined this year — if it hasn’t already.
George P. Mitchell died this past summer. Though not widely noted, his American ingenuity has laid siege to the fundamental injustices of the world and promised a now inevitable American economic renaissance. In the 1980s, industry experts thought his idea was “stupid.” Today, Mitchell’s invention is completely reversing global fortunes. His invention: Fracking.
Because of the ingenuity of this Texan, global oil and gas markets are in complete upheaval. His home state of Texas is experiencing skyrocketing production of oil and natural gas. Texas is the thirteenth largest producer of oil in the world today and production continues to rise dramatically in places like the Eagle Ford and Barnett Shale oil plays. Mitchell’s invention insures that Vladimir Putin’s claims to increased Russian hegemony are largely vain. The abundance of fossil fuels yielded by the Texan’s genius threatens the cornerstone of Russian economic prowess: natural gas.