Three faces of fracking
Per Glenn Reynolds: Because of fracking, (1) the U.S. is suffering only a moderate fuel price shock from the Saudi oil-field strike, (2) China is losing $97 million a day from the same, and (3) while "the U.S. Navy used to have to keep the straits of Hormuz open. Now it only has to be able to close them."
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2 comments:
Bad link, I'm afraid.
When a nation has to have a "strategic oil reserve", oil is not a luxury but a strategic critical resource. Anything that stands in its way, must be removed, if one actually cares about their national standing.
The fact that America (the white hats) does not do that is weird. To the rest of the world "War for Oil" is not a uniquely American sin. After all, their nations have done far worse for resources far less critical than "oil".
Do you know how much oil is in Antarctica and Greenland? Do you know that the US has never even tried annexing those places? When they had bases on Antarctica, they voluntarily created a treaty in the UN, unviolated to this day, to remove all corporate, private, and industrial processes from that continent full of natural resources as reported by Byrd surveying using an American aircraft carrier battlegroup.
When nations do the opposite of what is in their strategic interests, it makes analysts like me antsy and suspicious.
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