A subject that is rarely discussed by the White House is just how energy independent the United States could be. Combined with Canada, the two countries have the energy resources to make North America totally independent of foreign liquid fuel supplies by 2024, according to a new report commissioned by the American Petroleum Institute.
No more long military commitments to Middle Eastern thugs and despots. No more wars without end.
The report states, The United States is "on the cusp of energy self-sufficiency and security through reliable, affordable, and abundant supplies of domestic oil and natural gas that can sustain and empower us well into the foreseeable future."
The American Petroleum Institute goes so far as to say, "In fact, the U.S. is already the global leader in oil and natural gas production and together with Canadian energy supplies could produce more than 100 percent of its liquid fuel needs by 2024."
So what’s stopping this from happening?
According to Jack Gerard, president and CEO of the API, he cautions, "The question before us today is whether we have the vision and wisdom to take full advantage of our vast energy resources."
He is obviously referring to the controversial Keystone XL pipeline. The pipeline by itself can transport up to 830,000 barrels of oil daily from Canada and the U.S. That would be Bakken shale formation to American refineries.
Due to environmental influence on the president, the deal is stalled.
The massive regulations have diminished the number of drilling permits on federal lands by 36 percent between fiscal years 2008 and 2012. Meanwhile, oil production increased 31 percent and natural gas production was up 25 percent on private and state lands.
The decision seems to be easy, but politics are tying he hands of those who can make it happen.
Presently, the wait for a federal drilling permit averages 228 days in 2012 compared to 10 days for a state permit in North Dakota, where much of the Bakken formation is located.
The API says that oil and natural gas sector supports about 529,000 U.S. jobs, and the industry pays around $85 million a day to the U.S. Treasury in taxes, royalties, and other fees.
What are we waiting for?
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