Sunday, October 02, 2011

Oil Will be the Future of Our Energy Production

While our government is pouring billions of dollars into impotent energy sources of corrupt Solar venture socialists, there are real enturopaners that are working on making American the Saudi Arabia of both oil and natural gas.  They are developing and revolutionizing fracking on the vast Bakken fields in North Dakota.  Stephen Moore put out a great article in the Weekend edition of the WSJ, detailing the success of Harald Hamm in developing the Bakken fields.

In the article, he references a conversation Mr. Hamm had with the president.  Here is how it went:

When it was Mr. Hamm's turn to talk briefly with President Obama, "I told him of the revolution in the oil and gas industry and how we have the capacity to produce enough oil to enable America to replace OPEC. I wanted to make sure he knew about this."
The president's reaction? "He turned to me and said, 'Oil and gas will be important for the next few years. But we need to go on to green and alternative energy. [Energy] Secretary [Steven] Chu has assured me that within five years, we can have a battery developed that will make a car with the equivalent of 130 miles per gallon.'" Mr. Hamm holds his head in his hands and says, "Even if you believed that, why would you want to stop oil and gas development? It was pretty disappointing."
Washington keeps "sticking a regulatory boot at our necks and then turns around and asks: 'Why aren't you creating more jobs,'" he says. He roils at the Interior Department delays of months and sometimes years to get permits for drilling. "These delays kill projects," he says. Even the Securities and Exchange Commission is now tightening the screws on the oil industry, requiring companies like Continental to report their production and federal royalties on thousands of individual leases under the Sarbanes-Oxley accounting rules. "I could go to jail because a local operator misreported the production in the field," he says.

It is men like Harold Hamm who truly embody the American spirit.  They don't receive any venture socialism monies from the government, yet the produce more than any of the corporate cronies could ever wish to accomplish.  Imagine how much more they could do if government would stop obstructing oil production.

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