You don´t hear the term, Peak Oil anymore!

This article tries to credit obama for this.

We have no idea what our oil reserves are, and less what they might really be.

Gov´t has taken many steps to create this ignorance. No exploration off the US east coast allowed since the 1970s. Areas of the US across the country put off-limits to exploration and drilling. No drilling off California, and more obstacles.

And don´t forget that formerly-depleted oil fields have had seen new oil [which is chemically-different from the original oil found there] appear in them. Earth´s still making the stuff.

Mother Earth is a surprising old witch. She is still creating black gold? She cleans her oceans of flowing oil, She even rearranges the land mass and lets off steam now and again.

In that the Department of Energy was created to lessen our dependence on foreign oil and private business has solved the matter, how about eliminating the department that was incapable of of solving the problem and save the US taxpayers billions of dollars.

It’s such great fun watching Obamie trying to bottle up all this new energy in order to save his ME friends.

I don´t buy this story at all.The saudis and other OPEC countries still have a virtual monopoly on the world´s oil supply and nickel and dime oil contributions from elsewhere isn´t going to change that.

Iraq is really the key on flooding the market with oil that would drop prices but they can always send some insurgents in there to sabotage the machinery.

From what I remember,Iraq bought in Chinese contractors to build up their oil infrastructure and they have gotten some results but internal political rivals in Iraq are holding things back.There´s still a lot of Saddam´s thug ministers running the government there,who don´t want to share the wealth.Iran´s meddling makes things that much worse.

But anyway,supply and demand are non factors in the oil world anymore,it comes down to some fat cat,left wing futures manipulators that set prices,regardless of supply.

Even if you have oil tankers as far as the eye an see,there´s not enough refining capacity and Obama wouldn´t dare let a new refinery be built,even though it would be more efficient and less polluting.

South Texas and North Dakota are showing the USA what is possible in oil production.

We could expand our refineries if we eliminated the EPA´s ridiculous and onerous air pollution regulations that attempts to make Houston´s air cleaner than the air found deep within the Amazon River rain forests.