Well This Can't Be Good

[Hardheaded1]

I attended a lecture as the guest of a Jewish friend at his synagogue earlier last year. The presenter was a geologist with New Mexico State University. It has a significant school in support of the state's oil and gas industry. He predicted that the U.S. would see the fall in gasoline prices that we now see realized, the driver being the fracking used plus other reserves discovered in the Western Mediterranean off the coast of Lebanon. He also predicted the U.S. oil industry was in the process of converting the port oil terminals to allow them to be reversed so that they could being to export. We will see that legislation pass soon and the U.S. will resume exporting.

The totality of it bodes ill for climate change as the glut will only encourage overconsumption of fossil fuels.