Saturday, March 21, 2015

Frack it! Fracking only works in North America and Australia.

And the biggest, most consequential energy innovation in the last half century could only happen in places with private mineral ownership. This is because state ownership means that the only way the individuals involved in the process can profit from it is through restraining and delaying the process until they extract rents commensurate with their political power. And it makes the land owner a victim with no upside to compensate him for the inconvenience.

Imagine: perhaps $150 trillion ($50 times 3 trillion recoverable barrels) dollars of wealth available to Americans, Canadians and Australians that is all but inaccessible to those who have been "saved" by their glorious governments. What a stunning price to pay to be manipulated by lawyers.

"And they'll make us all poor because we're easier to please that way".

In other news the Obama EPA is issuing new regulations to strangle fracking on public lands in its crib. It's been banned ere these long 6 years of hope and change while the Obami "promulgate" (in English: delay while furiously coming up with ways to stop -without being seen to stop- the creation of wealth by and for people who are outside of our political coalition and barring that, loot as much of the economic surplus for us as we can) regulations for its production.

We have met the enemy and they are "leading" us.

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