Monday, November 10, 2014

Gas price

It is common knowledge that politics interferes with most everything and the energy business is no exception. All the talk now is about the Keystone Pipeline and in reality it is only a minor player. The big oil fields are in the Green River Formations of Utah, Wyoming and Colorado. A recent report by the U.S. Government Accountability Office estimated that if half of the oil bound up in the rock of the Green River Formation could be recovered it would be "equal to the entire world's proven oil reserves." The biggest aid to the so called middle class during the Obama years has been the recent decline in gasoline prices and this is the result of increased production primarily in Texas and North Dakota and the current administration has done nothing to help to promote this. It has happened in spite of administration policies designed to move away from fossil fuels. Now The President is claiming this as a success for his administration.

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