John Ransom

The New Year brings us back to the number one reason liberals give regarding their war on America’s energy industry.

Why does it take us there? Because this is more than a new year-- it’s an election year, and there are two different visions of the country that need to be contrasted for voters this year.

And it’s not just the responsibility of candidates and political parties and super PACs to talk about what America can be.

It’s your responsibility to do it too. You can do it over the fence post, or a soccer game or a cup of coffee, or over the Internet.

It’s a story that needs to be told.

Just to recap, the fossil energy industry, thanks to hydraulic fracturing, is situated to deliver us from the worst fiscal crisis since the Civil War, when greenback were printed to make up for the lack of investor interest in American debt.

And a report last year confirmed what I’ve been saying for three years now: There’s enough fossil energy available domestically for the United States to not just be energy independent, but for the U.S. to be the great exporter of energy for the world.

“Shale oil (light tight oil) is rapidly emerging as a significant and relatively low cost new unconventional resource in the US,” writes PWC in its February, 2013 report Shale oil: the next energy revolution. “There is potential for shale oil production to spread globally over the next couple of decades. If it does, it would revolutionise global energy markets, providing greater long term energy security at lower cost for many countries.”

The big winner in all this would be the United States because it has large reserves of this type of energy.

So, along the way to energy independence, the U.S. can add ten million jobs and $20 trillion in additional GDP over ten years at a time our GDP stands at $16.5 trillion.

That is, it can happen if we don’t screw it up.

Big “if” I know, given the little heads in Washington.


John Ransom

John Ransom is the Finance Editor for Townhall Finance.
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