EnergyFactor By ExxonMobil | Pespectives has a new home

Energy Security

A free trade tour de force

Posted: September 12, 2014 by Ken Cohen

The case for free markets has seldom been made as forcefully or as eloquently as it was this week by Larry Summers.

Without the generous new supplies of oil and natural gas currently being supplied from shale and tight rock formations, we’d probably be in the midst of a bona fide energy crisis.


Call it the million-barrel milestone. In April, according to North Dakota’s Department of Mineral Resources, the state’s oilfields pumped more than one million barrels of oil per day.

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.



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