Its raining soup out there, but we’re stuck with dimwits who think that shuffling paper around will solve our economic problems:
Dozens of fruitful wells beneath the rich Bakken shale in North Dakota continue to fuel a hunch among oilmen and geologists that another vast crude-bearing formation may be buried in the state’s vast oil patch.
Lynn Helms, director of the state Department of Mineral Resources, said recent production results from 103 newly tapped wells in the Three Forks-Sanish formation show many that are “as good or better” than some in the Bakken, which lies two miles under the surface in western North Dakota and holds billions of barrels of oil.
“I think it’s a big deal and we’re pretty fired up about it,” Helms said.
Drill, baby, drill. We have 275 billion tons of coal in our ground, 30 billion barrels of oil, 238 trillion cubic feet of natural gas and we invented nuclear power…and that is just proven reserves. Lord only knows what we’ve missed because we’ve been slack in using our own natural wealth. We don’t have a shortage of energy, dear people; what we have is a shortage of good sense. We need to make, mine and grow more of our own things and we have vast and scarcely tapped energy resources – all we lack is the will to exploit them to their fullest extent. Obama talks about creating “green jobs”, as if windmill manufacturing will some how solve our energy problems, and replace the millions of jobs lost in the manufacturing, mining and farming sectors of our economy over the past few decades…meanwhile, we’ve got enough coal in the ground to last us nearly three centuries…certainly enough for us to slowly and carefully transit from carbon to non-carbon energy sources, don’t you think?
Potential wealth is the stuff you’ve got in and on the ground in its natural state. Actual wealth is what you’ve got when you have in some way modified natural materials into something usable. Wealth is not Wall Street pinheads and DC bureaucrats shuffling paper around and maintaining a good old boy network where you go from DC to Wall Street and back again in an endless cycle of well paid jobs which produce nothing of worth.
We ran up a massive amount of debt thinking that we could ponzi-scheme ourselves on to easy street – at least as long as we lived, and who cared what came after. Well, “came after” is here, today. Those who warned back in the 1930’s that welfare State nonsense wouldn’t work were right; our grandfathers should have listened to them, but the siren song of getting something for nothing drowned out common sense. So, here we are, flat broke and trillions of dollars in debt – a good portion of which is owed to Chinese tyrants who threaten our lives and our global position with their massive and entirely un-called for military buildup. Do we really want change? Then we’d better start changing – and that means giving up the get rich quick schemes of the past and getting back to work.
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