The Fracking Industry Deserves Our Gratitude

It has given America virtual energy independence, freeing it from the leverage of often hostile Middle East regimes.

Less than ten years ago, America’s energy future looked bleak.

World oil prices in 2008 had spiked to more than $100 per barrel of crude.

“Peak oil” — the theory that the world had already extracted more crude oil than was still left in the ground — was America’s supposed bleak fate. Ten years ago, rising gas prices, spiraling trade deficits, and ongoing war in the oil-rich Middle East only underscored America’s precarious dependence on foreign sources of oil.

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