Friday, September 30, 2011

The oil boom that is, and the one that could be

Here's an NPR story on the transformation that North Dakota has seen in the wake of its oil boom.  The story is centered on the town of Willison, but the ramifications are worldwide.  Here are the money lines:

Two years ago, America was importing about two thirds of its oil. Today, according to the Energy Information Administration, it imports less than half. And by 2017, investment bank Goldman Sachs predicts the US could be poised to pass Saudi Arabia and overtake Russia as the world's largest oil producer.
 Places like Williston are the reason why.
Coincidentally, the Wall Street Journal has a column today outlining how the Federal government is standing in the way of the energy revolution.  If NPR and the WSJ can see the benefits of cheap and abundant domestic energy, why can't the Obama administration?