Economic experts know that if President Obama and his administration increased offshore drilling, tapped the shale reservoirs, opened the Keystone XL Pipeline (to deliver oil from the tar sands of Canada to refineries in Houston, Texas), supported increased exploration of natural gas, told the Iranians to take a flying leap across the Strait of Hormuz, released the U.S. Strategic Petroleum Reserve stored in salt caverns along the Gulf Coast (as even congressional Democrats have advocated) or any combination of just three of the above, gas prices would drop significantly.
In November 2011, Bloomberg’s Business Week reported, “Unlocking vast reserves of shale gas (petroleum-like liquids that are extracted from sedimentary rocks when heated) could solve the energy crisis, the jobs crisis, and the deficit.”
Proof again came just last Tuesday when a three-university study revealed that drilling for natural gas into Ohio’s Utica shale alone will create more than 65,000 jobs and $9.6 billion of related economic development by 2014, according to the Akron Beacon Journal.
Increasing U.S. petroleum-based energy production (not restricting and reducing it, as Obama’s administration has done) is key not only in lowering our gas prices but also in restoring our economy. And that is exactly what former Speaker of the House and GOP presidential candidate Newt Gingrich is proposing.Continue reading on www.wnd.com