Power Line: Shale Oil To Be Developed, But Not Here

Power Line: Shale Oil To Be Developed, But Not Here

I have a great idea for increasing our oil reserves 100-fold within 24 hours! Vote Republican in November. (Assuming that the weak-kneed Republicans vote correctly on January 4, 2009!!)

This is an important point: the US having 3% of the world's oil reserves is part fact (oil in ground) and part regulation (oil we are ALLOWED to access).

We know the oil is in the ground in many locations. The US Geological Survey has established that (even in its extraordinarily conservative methodology). Kudos for good science.

Now we just need to purge the Democrats from Congress that prevent us from being the Middle East Oil Supply Killer that we have the potential to be.

What would happen to world politics if the barrel price of oil fell to $45 with little chance Middle East politics would change that? What if most of the money for oil extraction stayed in the US? What if the Saudis, Venzeulans, and Russians made far less profit margins? What would the US State Department's job be?

Palestinian terrorists with less money. Poorer Wahabiists in Arabia. Impoverished Russian politicians. Chavez with no bank account. Wealthier Americans, Europeans, Japanese, Chinese, Malaysians, Australians, Africans (outside of Nigeria), Dhubai subjects.

Which world would you prefer to live in?