Thursday, January 10, 2013

Oil independence

Here is some good news that has come to the attention of very few people outside of the awl bidness:

America is about to reach a new energy milestone: According to recent government forecasts, oil imports will will drop to the lowest level in more than 25 years in 2014. The FT reports that imports will fall to six million barrels per day, half of the 12 million barrels per day we imported from 2004–07, putting America well on the road to energy independence.
Credit much-increased domestic production, thanks to technology rather than government policy. Oh, and remember how wrong the "peak oil" crowd turned out to be, just like the "limits to growth" and "population bomb" religionists before them.

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