Freedom Is the Key to Energy Security!
A few days ago I wrote a post asking “What About Coal?” based on the 2024 Statistical Review of World Energy. The interest in that post was very high, so let me share a bit more from this invaluable report.
I took a look at the raw data for proved reserves of oil and natural gas in North America. It's pretty spectacular in illustrating how important freedom, which we are losing at an increasing rate every single day under Joe Biden, is the obvious key to energy security. Here are two charts I prepared to depict this:
First, understand that proved reserves are directly rated to price. When prices are higher it becomes economical to pursue new sources requiring greater investment. When prices are lower less exploration and development is warranted. Proved reserves are those financially feasible to develop. The amount of oil and gas below is almost irrelevant because the higher the price, the greater the possibilities of grabbing the resources. Growing reserves ensure energy security.
Now, look at Mexico. It’s reserves are disappearing. Why? Because it’s a socialist state where the freedom to explore and develop is restricted by government ownership, bureaucracy and the lawlessness wrought by incapable political institutions with no idea how to restore order. The cartels run everything and ruin everything. Mexico is dependent on everyone else for its long-term energy security.
Now, gaze upon the Canadian stats, which show huge but dropping reserves of oil and only modest and slightly increasing reserves of natural gas. Why is that? Well it has to do with a rotten Federal government, run by WEF frat-boy, that stands in the way of Alberta oil and gas development.
Alberta ought to declare independence, but It's not only the spoiled brat at the Federal level that’s an obstacle. There’s plenty of natural gas in New Brunswick, for example, but Provincial leadership there is scarcely better than that provided by Trudeau. Fracking has never had a real chance in Canada and that's because it's really a free country but, rather, one run by petty tyrants.
The United States, by contrast, largely enjoyed freedom up through 2020. Fracking made us energy independent and dramatically increased our reserves of both oil and natural gas, delivering real energy security. Sadly, the Obama-handholding Biden Administration has relentlessly attacked oil and gas development in this nation, instead pursuing China and grifter friendly policies that will put us in the same position as Canada and Mexico if they are not quickly reversed.
The numbers tell all. We are under siege by a fully corporatist Democrat party and its leadership behind the curtain. Can we force a retreat? That remains to be seen.
#Oil #Energy #NaturalGas #Reserves #Canada #Mexico