Robert A Whit
10-23-2012, 04:39 PM
NEW YORK (AP) — U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer.
Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7 percent this year to an average of 10.9 million barrels per day. This will be the fourth straight year of crude increases and the biggest single-year gain since 1951.
The boom has surprised even the experts.
Despite the efforts of Obama to curtail oil production, the private property owners plus private companies has managed to thwart Obama.
I am still suggesting posters read the book by Wapshott about Keynes and Hayek to further learn economics.
I cracked my college economics book again just the other day and it does not mention Hayek. It preaches the trickle down government approach so believed in by Keynes and intensly endorses the Keynes approach.
Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7 percent this year to an average of 10.9 million barrels per day. This will be the fourth straight year of crude increases and the biggest single-year gain since 1951.
The boom has surprised even the experts.
Despite the efforts of Obama to curtail oil production, the private property owners plus private companies has managed to thwart Obama.
I am still suggesting posters read the book by Wapshott about Keynes and Hayek to further learn economics.
I cracked my college economics book again just the other day and it does not mention Hayek. It preaches the trickle down government approach so believed in by Keynes and intensly endorses the Keynes approach.