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Somewhere in the vast expanses of North Dakota's Bakken shale formation, the idea that the United States would run out of oil came to end. Surging shale oil and natural gas production has turned conventional wisdom on its head about the nation's energy future.
The ethanol mandate continues to do more harm than good — inflicting environmental damage, raising food prices, and distorting energy markets.
The average American would believe that the nation's need for substantial nuclear fuel, oil, natural gas, and coal will soon be a distant memory, based on the Obama administration's strident emphasis on developing "alternative" energy sources. The reality, however, is quite different.
Despite great handwringing over America's anemic job creation, the president demonstrates little understanding of the damage his policies are doing to millions of unemployed American desperate to find work.
Not many people noticed during the run up to the Iowa caucuses and last year's payroll tax fight that a far more important, and potentially game-changing, resolution passed the Senate at the end of 2011.
The U.S. is at the forefront of the unconventionals revolution. By 2020, shale sources will make up about a third of total U.S. oil and gas production...by that time, the U.S. will be the top global oil and gas producer, surpassing Russia and Saudi Arabia, PFC predicts.
The president was quick to embrace the Keystone delay to 2013, as it will spare him the need to either approve the pipeline, infuriating environmentalists, or kill it, infuriating everyone else. Whether one views such a move as cowardly or as pragmatic, it’s indisputably foolish.
Some Republicans are helping environmentalists get rid of coal energy, because they have invested interests in natural gas, but who is to say that natural gas won't be next?
We welcome you to join us as a panel of economists discuss US wage and price prospects in the coming months and the implications for the Federal Reserve’s current unorthodox monetary policy.