The U. S. Interior Department has lifted a 79-year old executive order banning oil-shale development in Wyoming and Utah. According to Bloomberg.com, the Department issued a notice that will open up 6 million acres in Wyoming and 1.7 million in Utah for leasing pending analysis to determine if the land warrants special protections. The plan would take effect next month.
There are two things to note here. First, Barack Obama would have the power as President to overturn this measure. Second, I have a question--in the current era of relatively cheap gasoline and oil, is oil-shale available at a price that would be competitive?
Just as a note, I would like to say it would be wonderful to have sources of energy here that didn't have diplomatic strings attached. Europe is learning that lesson now as Vladimir Putin is consolidating his control over the oil that flows into Europe. We need to learn from what is happening there and from what has happened to us in the past.
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