Since the congressional Pickett Act of 1910, the U.S. Government controls most of the nation’s shale oil reserves. An astonishing 1.5 trillion barrels of oil or more than five times the stated reserves of Saudi Arabia. The U.S. has within its borders the mother lode of potential domestic oil production that can no longer be ignored.
New technologies will now allow for the safe and economic development of these newly accessible oil reserves through a new process called “in sita”, mining which heats the oil while it is still in the ground to the point where the oil leaches out of the rock.
This new technology along with America’s tremendous shale oil reserves creates economic opportunities that are incredible. Imagine our country no longer dependent on other nations, some of which are hostile to the U.S., for our energy needs.
The good new is the development of these oil reserves has already begun on private property in North Dakota and other states. The bad news is the U.S. government will not open up oil production on federal land.
An increase in domestic oil production to the point of energy independence would be of remarkable benefit to the economy and people of the United States. As of the date of this report the U.S. has $425 Billion of oil imports, $169 Billion from OPEC nations. Oil independence will eliminate this trade deficit and most probably result in a trade surplus. The result of which would be, no longer sending American dollars overseas to our enemies in the Middle East, thereby reducing the available funds for international terrorism. Hundreds of thousands of jobs would be created for the American people. Resulting in lower unemployment, increased tax revenue, and a balanced budget. Lower prices at the pump, which will result in more discretionary income for individuals, thereby continued expansion of the economy. These are just a few of the obvious benefits from energy independence.
Energy Independence is the most pragmatic course to take for an economic recovery, the benefits are bountiful.
As we consider this election cycle for President of the United States and other elected officials, it is imperative that we know where these candidates stand on domestic oil production on federal lands and energy independence. Any candidate for President of the United States that is not for energy independence is not serious about the economic recovery of our nation. It is very unlikely that any austerity measures of any real consequence will be implemented by congress or the President of the U.S. Therefore, we must grow ourselves out of this economic hole we are in and Energy Independence is the path to economic prosperity.Dean Kelley Walker County Tea Party Coordinator