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February 22, 2013

ICYMI: Peak Oil Remains a Myth

February 22, 2013
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HOUSTON — IER founder and CEO Robert Bradley’s latest Political Energy column at Forbes.com, Peak Oil Will Be Fully Discredited When Peak Government Is Realized, traces oil-supply scares to false notions “of a world of static technology and a known, fixed supply,” as well as government policies inhibiting oil and gas production that fool the neo-Malthusians time and again:

Peak Oil Will Be Full Discredited When Peak Government Is Realized
By Robert Bradley Jr. — 2/19/2013

President Obama recently nominated Sally Jewell to head the Department of Interior. Her bona fides include growing a business — Recreational Equipment Inc. (REI) — to nearly $2 billion in revenue last year. But in her new job, the question is whether Secretary Jewell will grow America’s vast, untapped domestic energy resources.

Jewell is now at the gulf between what is and what could be. The Interior Department is responsible for oil and natural gas drilling off the U.S. coast – which is to say, the agency is wholly responsible for the complete absence of new drilling off the U.S. coast.

Consider ExxonMobil’s $14 billion plan to develop one of the largest oil fields in the North Atlantic. That drilling will be off Canada’s Newfoundland. But the Hebron oil field is believed to extend southward into U.S. waters with its billion-barrel potential. Unfortunately, the United States won’t see a drop of it — unless Secretary Jewell and others in the Obama hierarchy open our coast. Simple permission, not taxpayer funds or new regulations, is all that is required.

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