The Boom America is Forfeiting

May 2, 2011 04:55

Australian GDP has expanded during 39 out of the past 40 quarters, largely on the strength of its resource-rich economy.  The U.S. possesses far greater natural resources, but it is stymied by the anti-growth agenda of the left.

By Jeffrey Folks at American Thinker


Australians are partying like it’s 1999, but for Americans it’s more like 1937.  That’s the year recovery from the Great Depression, already under way when FDR took office, collapsed under the weight of Keynesian spending and settled into four more years of economic stagnation.
One reason why Australians are so well off is that under the benign policies of conservative leader John Howard, their energy and mining industries were allowed to function unimpeded.

As a matter of fact, facilities for LNG export already exist on both the Gulf and west coast of America: all that is needed is regulatory approval to convert import facilities to export.  But on this, as on every other aspect of oil and gas development, regulatory agencies controlled by Democrats are dragging their feet, hoping that by delaying and driving up costs they will be able to kill development altogether.  At the same time, the EPA has announced its intention of tightening regulation of natural gas production in the U.S. — in other words, its intention of strangling this promising new resource, along with oil and coal.
Cutting off fossil fuel development is, of course, a central political strategy of the Obama administration.


Help Make A Difference By Sharing These Articles On Facebook, Twitter And Elsewhere:

Interested In Further Reading? Click Here