And they'll convert this power into a new kind of American socialism. Just like Hugo Chavez has done with Venezuela's oil riches.
Obama will take America's natural bounty, convert it into a giant political slush fund. Soon, you'll see the crowds out cheering for him, demanding a 3rd term.
It's Not A ? Of If, But How Soon ?
The 1st thing you have to realize about this shale development is the sheer size of the trend. G-Sachs is predicting the USA will be the leading producer of oil in the world by 2017.
It sees American oil production reaching 10.9 million barrels a day by 2017. That's more production than Russia, Saudi Arabia.
US production at those rates would eclipse the 1970's 10-mln-bp-day all-time high daily production in the US !