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America's Big Fat Advantage

89Luke Wrote: Mar 21, 2013 1:52 PM
American Exceptionalism! ......USA!......USA!......USA!

For all the Obama-era talk of decline, there is at least one reason why America probably won't, at least not quite yet.

"Peak oil" and our "oil addiction" were supposed to have ensured that we ran out of either gas or the money to buy it. Now, suddenly, we have more gas and oil than ever before. But the key question is: Why do we?

The oil and gas renaissance was brought on by horizontal drilling and fracking that opened up vast new reserves either previously unknown or considered unrecoverable. Both technological breakthroughs were American discoveries, largely brought on by entrepreneurial...