Economist and CNN analyst Stephen Moore says the United States is poised to become not just energy independent, but energy dominant globally thanks to shale energy. Trillions of new tax dollars could be generated to fund public programs. Writes Moore:
At the Unleashing American Energy event last week, Donald Trump renewed his promise of an era of American global energy dominance. He said that this energy superpower status would be gained by using all of our energy resources. He also noted that in just six months, we’ve reduced the petroleum share of the trade deficit by 5 percent. What a welcome change from Barack Obama, whose administration took every possible step to stop American fossil fuel development.
Trump recognizes what almost all his critics choose to ignore: We are entering an age of American energy renaissance that will last many decades. While the left keeps placing bad bets on expensive and unreliable green energy, Trump has a more robust and realistic strategy: Make the United States the 21st century’s Saudi Arabia. We are well on our way, given the continuing story of the shale oil and gas explosion.
Since 2007 America has increased its oil and gas output by 75 percent, with most of it coming from North Dakota, Texas, Oklahoma, West Virginia and Pennsylvania.