Its fair to say humility isnt one of the presidents virtues, and so its no shock he took a bow for his self-declared status as savior of the American economy in his State of the Union address. He shouldnt have. The major — and even in some years the sole — driver of growth in employment and output since 2009 has been the shale oil and gas boom. Those most responsible for Americas energy revival have been Floyd Farris, inventor of hydraulic fracturing, and Harold Hamm, the driller who put the technology into action in North Dakota, creating tens of thousands of jobs. Funny, but neither were showcased guests at the State of the Union. Obama, who has made no secret of his abhorrence of the oil, gas and coal industries, has done almost everything imaginable to stop domestic oil production by regulation, by a virtual drilling moratorium on federal lands and by not building pipelines. He simply cant take credit for the fossil fuels revolution.
Posted on: Sat, 24 Jan 2015 23:00:01 +0000
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