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Monday, March 23, 2015

Why Obama opposes fracking

The Wall Street Journal looked at hydraulic fracturing, which taps into natural gas and oil deposits in shale thousands of feet below the surface, works elsewhere in the world.

Not so well, it turns out.

The underground deposits are too small to be commercially viable in many places. Other places have rocks that are too tough to drill. Many local people protest, which causes political problems. Only Argentina, Canada, China, and the United States have succeeded -- and China is scaling back as protests rise.

"It turns out that the U.S. has a rare convergence of factors that facilitates shale production. It has shales that are relatively easy to fracture; regulations in many states that make it easy to get permits for drilling wells; and, unlike in many other countries, underground resources in the U.S. tend to be held by private landowners. That means people can sell the gas beneath their homes — giving a real incentive to welcome fracking over potential environmental and health objections," the Wall Street Journal reported.

Fracking has made millionaires of poor farmers in North Dakota, and restored America's energy independence.

Which is the real reason Barack Obama wants to shut it down. It brings self-reliance.