“Shale oil is almost a uniquely USA geological phenomenon.” Craig Schwartz
“Shale oil is a revolutionary competitive advantage for America.” Ibid
“Energy independence is hindered because the worldwide market for oil is controlled by dictators and totalitarian regimes that nationalized western oil companies and which manipulate the market thru OPEC.” Ibid
Editor’s Note: Oil is also a major partner in reducing America’s debt viz., ANWR (Artic National Wildlife Refuge). The federal government can hire a small private oil firm to drill this oil with 90% of profits going to reduce the national debt.
Craig Schwartz, American Thinker, March7, 2017
America has been blessed by geology. We have an opportunity to be the world’s low cost producers of oil, gas, electrical energy, chemical feedstocks and the building blocks of almost all products of modern life. Combined with our rule of law, individual rights, private property, private capital and a culture of innovation; America truly could be great and secure as never before.
Some background: Shale oil is almost a uniquely USA geological phenomenon. Total worldwide shale oil reserves are estimated to be 4.8 trillion barrels, of which 1 trillion is recoverable, with 77% is located in the USA. For comparison, conventional worldwide oil reserves are 1.3 trillion barrels.
We could be completely energy independent by 2020 — if, and only if, markets are not manipulated by totalitarian oil producing regimes. Continue reading