Environmental activists have achieved fracking bans in Vermont, Buffalo, N.Y., and Pittsburgh, Pennsylvania. In Europe, the “green” movement has succeeded in prompting the French, Polish and Bulgarian governments to ban fracking. Similar efforts are vocal and growing in Ireland and Britain.
Is that a mistake?
“Everybody around the world has taken notice,” said Daniel Simmons, an energy scholar at the Institute for Energy Research, a Washington-based think tank and research organization. “They’re starting to wonder if they can get a part of the same energy revolution that we have here.”
The independent Beijing-based publication Caixin recently reported the Asian superpower is planning a “huge fracking industry” and that “the model for China’s anticipated success is the U.S. shale gas sector.”
Texas-based FTS International Inc., a leading fracking equipment company, has announced the signing of joint venture deals with partners in Brazil.
With the new technologies, America may no longer need Middle East oil, she said, adding, “With the right policies in place, America could meet 100 percent of its liquid fuel needs through safe, reliable North American sources by 2024.”
The International Energy Agency predicts America will overtake Saudi Arabia before 2020.
So, are we getting ready for a new crop of Jed Clampetts?
Could you be one of the overnight millionaires?
“Up from the ground come a’bubblin’ crude. Oil that is, black gold, Texas tea …”