Add Colorado to the list of states – including Texas, North Dakota, and Pennsylvania – that are experiencing firsthand the new domestic energy abundance brought on by tapping into America’s shale oil and natural gas regions.
At last week’s North American summit, President Obama testified to the many benefits that have accrued to Mexico, Canada and the U.S. as a consequence of lowering trade barriers through the North American Free Trade Agreement. And the president made clear that much of last week’s summit focused on ways to reduce any continuing trade frictions.
The president and his senior advisors would be wise to remember that the American heartland produces more than just food for the world. It also produces increasing volumes of energy products like oil and natural gas.
America’s recent increase in oil output – not the total production figure, just the increase – is more than the daily production from major oil-producing nations like Venezuela, Nigeria, Kazakhstan, Angola, and Libya.