Most Important Under Reported Story of the Year

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My favorite living historian Victor Davis Hanson puts his finger on one of the most important developments of the past few years which has received little press coverage:

There is a revolution going on America. But it is not part of the tea party movement or the loud Occupy Wall Street protests.

Instead, massive new reserves of gas, oil and coal are being discovered almost everywhere in the United States, due to revolutionary methods of exploration and exploitation such as fracking and horizontal drilling. Current prices of over $100 a barrel make even complex efforts at recovery enormously profitable.

 
There were always known to be additional untapped reserves of oil and gas in the petroleum-rich Gulf of Mexico, off America’s shores, and in the American West and Alaska. But even the top energy experts never imagined just how vast was the energy there — or beneath far more unlikely places like South Dakota, Pennsylvania, Ohio and New York. Some studies suggest the United States has now expanded its known potential gas and oil reserves tenfold.

The strategic and economic repercussions of these new finds are staggering, and remind us how a once energy-independent and thereby confident American economy soared to world dominance in the early 20th century.

America will soon again be able to supply all of its own domestic natural gas needs — and perhaps for the next 90 years at present rates of consumption. We have recently become a net exporter of refined gas and diesel fuel, and already have cut imported oil from OPEC countries by 1 million barrels per day.

 Go here to read the rest.  The implications of this development to the US economically and strategically are immense, and I do not think this has penetrated through to the general public yet.

 

20 Responses to Most Important Under Reported Story of the Year

  • Spambot3049 says:

    Is there a moral element to this story that needs discussing? One commentator makes this observation: “Evidence has mounted that earthquakes in Arkansas have resulted from using this method of gas recovery. Polluted water has harmed animals as well as humans. Some fracking has caused exploding wells.”

    http://ncronline.org/blogs/eco-catholic/br-david-andrews-morality-fracking

    Should Catholics urge caution on this type of oil exploration and recovery?

  • No more so spambot than we should have preached caution in regard to putting the horseless carriage on the road. Any rough patches can be smoothed over eventually through legislation and litigation. However, in our modern desire to create a completely safe world I think too often we can come up with 10 good arguments against any new development in the economy and end up doing nothing as a result. The energy rush of 2011 is just what our stagnant economy needs and I hope that the naysayers, and eco worshippers will not throttle it.

  • There is also a virtually limitless supply of thorium and uranium available to fuel our civilization for tens of thousands of years, all without pollution.

    World Uranium Reserves by James Hopf, Nuclear Engineer
    http://www.americanenergyindependence.com/uranium.aspx

    Increase In Thorium Reserves: Alternative To Uranium For Nuclear Power Generation by Linton Levy
    http://nuclearstreet.com/nuclear_power_industry_news/b/nuclear_power_news/archive/2009/03/17/increase-in-thorium-reserves-alternative-to-uranium-for-nuclear-power-generation.aspx

    Quotation therefrom:

    “The U.S.G.S.’ latest estimate of 915,000 tons of thorium ore reserves within the claims held by Thorium Energy, Inc., in Idaho and Montana compares to the previously published U.S.G.S. estimate of 160,000 tons for the entire United States as stated in the U.S.G.S. Mineral Commodity Summaries 2008.

    “The October 2008 U.S.G.S. update states that, ‘The thorium and rare-earth deposits in the region were initially studied by the U.S. Geological Survey (Sharp and Cavender, 1962; Staatz, 1972, 1979) and others, including the Idaho Bureau of Mines and Geology, Idaho Energy Reserves Company (IERCO), a subsidiary of Idaho Power Company, the Idaho Geological Survey (Gillerman and others, 2003), Tenneco Oil Company, the U.S. Atomic Energy Commission, and the U.S. Bureau of Mines. Total reserves of the deposits are 915,000 tons of ore.’

    “This confirms that Thorium Energy, Inc.’s total Idaho and Montana thorium resources and reserves are the largest in the United States. Furthermore, the company is not aware of any larger, professionally documented reserves of high-grade thorium anywhere in the world. According to the current U.S.G.S. statistics, the next highest estimates of thorium ore are for Australia with 300,000 tons and India with 290,000 tons. It must be noted that the Idaho and Montana deposits are of high-grade thorite and thorianite rather than low-grade disseminated deposits as in India, for example. ”

    —–

    By the way: ALL – I say again, ALL – of the uranium-233 generated by neutron-induced transmutation of fertile thorium-232 IS fissile, whereas in nature only 0.7% of uranium is fissile uranium-235 with the rest being fertile uranium-238 (from which plutonium-239 can be produced, again by neutron-induced transmutation). AND thorium-232 is 30 times more plentiful than uranium.

    We do NOT lack for fuel in these United States. We do NOT have an energy crisis. We have a crisis of political corruption and corporate socialism (otherwise known as croney capitalism).

  • PS, Dr. Bernard Cohen of the University of Pittsburg, PA wrote a book in 1990 entitled, “The Nuclear Energy Option.” There is some dated material, but it’s well worth reading. The reader may find it here (be patient as you navigate through the sub-links to individual chapters and sections within this important work):

    http://www.phyast.pitt.edu/~blc/book/BOOK.html

    And at this web link Dr. Cohen discusses a number of topics relating to radiation, risk, radioactive waste, etc.:

    http://www.phyast.pitt.edu/~blc/

    Again, there are lots of sub-links, and lots of good information. Now don’t believe me. I am a grunt nuclear engineer / technician (with emphasis on the Neanderthal “grunt”) having only 30 plus years of training and experience. Rather, believe a bona fide Doctor of Science who knows what he’s talking about. And put on your thinking cap. ;-)

  • RR says:

    The most obviously ignored story of the year on conservative blogs will be the news today that the Obama Administration has blocked the sale of Plan B to minors.

  • “…the Obama Administration has blocked the sale of Plan B to minors.”

    God allowed King Manasseh to be dragged away into capitivity with a hook through his nose by the Assyrians for his crimes of sexual perversion and murder.

    Obama had better watch his step, because that same God is watching him, and unlike men, God does not change in how He views and punishes evil.

  • T. Shaw says:

    RR: Actually the regime did not block the sale of the abortion pill to minors, they not end the requirement to first obtain from an abortionist a written prescription, which can be electronically forwarded, in nanoseconds, from the baby murder facility.

    Is that newsworthy because it serves the party of class hatred?

    Here is my nominee for most important under-reported story. Hundreds killed as Obama and Holder arm Mexican drug gangs to advance the anti-freedom agenda.

  • RR says:

    Catholics should applaud Obama’s decision if for no other reason than to encourage more such decisions. But the other side has a point when they say that too many people don’t know what they’re talking about. Plan B is a contraception, not an abortion pill. It prevents ovulation and fertilization. There is no person to abort. You don’t need a prescription for it. Currently, it’s available to anyone 17 or older. It was recommended that it be made available on the shelves to anyone. The Administration decided against that and the left is universally criticizing Obama for it.

  • Phillip says:

    “Plan B is a contraception, not an abortion pill. It prevents ovulation and fertilization.”

    Still reasonable concern that it prevents implantation of the fertilized ovuum and thus acts as an abortifacient. The medical court is still out on that but one cannot in truth categorically make the statement that it only prevents ovulation and fertilization.

  • T. Shaw says:

    All this “pomp and circumstances” is based on the fact that Obama-worshiping MSM journolistas define news as that which serves Obama and the agenda.

    The news serves the party ergo it is truth. BARF

  • Human pesticide it is RR. I no more applaud the administration for this than I would applaud an edict from the Obama administration opposing cannibalism for those 16 and under. Obama is obviously attempting to head to the center for the 2012 election and the Leftists are alarmed. Silly Leftists, he means none of this! Rest assured that whatever crumbs of moderation he tosses to the public will be rescinded if he wins re-election.

  • No Paul I remain completely optimistic that Obama is electoral dead meat. The fact that in a recent poll Gingrich is ahead of him in Ohio is a clear sign of his plight. Back in January of 80 by comparison Jimmy Carter was ahead of Reagan and the rest of the Republican field by a sizable margin in polls taken at that time.

    http://www.harrisinteractive.com/vault/Harris-Interactive-Poll-Research-CARTER-NOW-FAR-AHEAD-OF-BOTH-REAGAN-AND-BUSH-1980-01.pdf

    Obama is fighting against a very bad economy, and in American presidential politics that is almost always a political death sentence.

  • Paul Zummo says:

    The most obviously ignored story of the year on conservative blogs will be the news today that the Obama Administration has blocked the sale of Plan B to minors.

    Wow, really nailed that one. Other than, you know, all the blogs – including this very one – talking about it.

    Did you also buy Citrix stock in March 2000 and natural gas shares in August 2008?

  • Elaine Krewer says:

    “Back in January of 80, by comparison, Jimmy Carter was ahead of Reagan and the rest of the Republican field by a sizeable margin in polls taken at that time.”

    I suspect that it was the Iranian hostage crisis (particularly the failed rescue mission) and the Administration’s response (or lack of it) to the Soviet invasion of Afghanistan that really did Carter in. Both of those developments were still pretty new in January ’80. Only after they had dragged on without resolution for months did they become fatal to the Carter campaign. The persistently poor economy with its high inflation and fuel prices hadn’t been enough, on its own, to take down Carter at that point.

    Likewise, I am not sure that the poor economy we have today will be sufficient to defeat Obama or to overcome the instinct of many people to stick with the devil they know over the one they don’t. It will take some kind of new domestic or foreign crisis (or both) to truly seal his electoral fate. And even then, never underestimate the power of the GOP to shoot itself in the foot. After all, Don, you were equally confident last year that Gov. Quinn was “electoral dead meat” and we are stuck with him still.

  • “After all, Don, you were equally confident last year that Gov. Quinn was “electoral dead meat” and we are stuck with him still.”

    True Elaine, but I believe you agreed with me at the time, along with virtually every pollster who looked at the race. The outcome surprised virtually everyone.

    In regard to the Iranian hostage situation that actually helped account for Carter’s high poll numbers early in 1980, as he was the beneficiary of a “rally around the flag effect”. That lasted long enough for him to fend off a primary challenge from Ted Kennedy. However the effect did not last, as Carter quickly showed that he was as incompetent at rescuing the hostages as he had been about virtually everything else he tried to do as President. It was the economy which did Carter in. I recall the roars of approval that met Reagan’s stump speech line: A Recession is when your neighbor loses his job. A Depression is when you lose yours. And Recovery is when Jimmy Carter loses his!
    Reagan clobbered Carter in the one and only debate shortly before the election with this absolutely devastating closing line:

    “Are you better off now than you were four years ago? Is it easier for you to go and buy things in the stores than it was four years ago? Is there more or less unemployment in the country than there was four years ago? Is America as respected throughout the world as it was? Do you feel that our security is as safe, that we’re as strong as we were four years ago? And if you answer all of those questions yes, why then, I think your choice is very obvious as to whom you will vote for. If you don’t agree, if you don’t think that this course that we’ve been on for the last four years is what you would like to see us follow for the next four, then I could suggest another choice that you have.”

  • Elaine Krewer says:

    “I believe you agreed with me at the time”

    Yep, I did, so my political prognostication abilities are far from infallible. Also, the 2010 Illinois governor’s race vote was extremely close and I would not be surprised if the POPULAR vote in the POTUS turns out to also be very close (1-2 percentage points).

    If Obama does win reelection it will be by the skin of his teeth in both the popular vote and in the Electoral College.

  • If Obama wins, then this country is doomed. It cannot recover from another four years of Obama.

    First, the destruction and havoc he is wreaking on the moral sensibilities of the nation is intolerable. Yes, the infection of post modern neo-paganism existed long before his rise to power, but he has single handedly raised it to a national epidemic. Open homosexuality in the military and exportation of the abortion culture abroad are simply a few of the many examples.

    Second, elimination of access to cheap energy (which as I recall is the topic of this particularly bog entry) destroys the ability to fuel a highly technical society. Obama has opposed energy from fossil fuels (with more and more EPA regulations, and more and more denials of access to drill) while touting useless green energy schemes, giving these schemes hundreds of millions if not billions of dollars (e.g., Solyndra), and has appointed the most anti-nuclear person yet to be Chairman of the US NRC – Gregory Jackzo – who himself has declared that there will be a slow down in licensing new nuclear build. Imagine that! Why would you appoint to the Chairmanship of the US NRC a man who worked for Representative Ed Markey against the continued operation of the Vermont Yankee and Pilgrim Nuclear Power Stations, and who worked for Senator Harry Reid against the Yucca Mountain spent fuel geologic repository? Why? Yes, there is a whole history behind this that I can spend pages describing, but the bottom line is this (in my opinion): Obama is anti-American and hates anything that’s truly American.

    PS, when Clinton was President, he appointed a university particle physicist – Shirley Ann Janckson – as US NRC Chairman. The whole tone and tenor of the NRC changed from being a regulator ensuring safe OPERATION to being a regulator intent on shutdown. She even gave a speech once that she envisioned 50% of our nukes would be shutdown and replaced with natural gas. Imagine how the CEOs for natural gas reacted! Then Bush became President, Nils Diaz was NRC Chairman, and Bush started GNEP and we begain talking about a rennaisance. Then when it became inevitable Obama was going to get elected, the NSSS companies (GE, Westinghouse, etc) began layoffs and Jackzo ascended to the nuclear throne. Now here we are. Plenty of fuel – fossil and nuclear – and no way to use it.

    If we do not get Obama out of office, then we are doomed. I now have to get back to nukes’R us.

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