Tuesday, 11 March 2014

Europe channels Sarah Palin: Drill Baby, Drill

Instapundit slyly points out that Europe sounds like Sarah Palin. Europe is pushing the States to up its energy exports so they can be independent of Russia's gas.  Obama doesn't want to hear what Sarah was saying but may have to.  A reminder: Once Obama releases gas export permits, the US is far ahead of the rest of the world.  (Most of the world except for Canada, that is.)  Read this:

"America remains the sole state to capitalize on its shale oil and gas resources.... The shale revolution was more than just the result of applying the dual techniques of hydraulic fracturing and horizontal well drilling to underground hydrocarbon reservoirs. Rather, the US energy revolution was the product of a mature oil and gas drilling industry, replete with robust supply chains. The boom depended on a unique set of mineral rights that provided landowners with a financial incentive to invite drillers on to their land, on a deep pool of capital, and on a variety of small wildcatting firms willing to take on the risk of drilling exploratory wells. . . .

Despite having some of the thicker—and therefore easier to drill—shale in Europe, faulted stratigraphy, stunted support infrastructure, and a byzantine regulatory environment are preventing Britain from imitating America’s shale success."

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