No shortage of oil or natural gas in America

Is the world running out of oil? Does America have to depend on the Middle East for energy? Doug Bandow, Senior Fellow at the Cato Institute, says no. Comments Bandow: “The world has endured a number of energy ‘crises’ over the years, but most of them were fakes, basically the result of government policy. America is not running out of energy, in fact we have an international marketplace, but new technologies are bringing a lot of new energy supplies on station, including shale oil and natural gas. In one field in the west of America contains up to 3 trillion barrels of oil, and as much as 60% of that is recoverable today with today’s technology.”

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About the Author: Craig Rucker

Craig Rucker is the executive director and co-founder of CFACT.