BETWEEN THE LINES: Compromise essential for American economic survival
The chaos in Egypt has once again reminded Americans of the dangers of depending on oil from the Middle East, where recent political instability is causing a rise in gas prices.
The current crisis re-ignites the debate between environmentalists and proponents of fossil fuels as to the proper approach our country needs on our nation’s energy policy. The Green Movement sounds good in theory, but the reality is that we are decades away from alleviating our need for fossil fuels. In the interim, we are forced to deal with reality, not wishful thinking.
Being dependent on oil is one problem, but being beholden to countries who are not particularly our best friends is another.
My wife’s retired uncle from Nebraska frequently sends me e-mails, many of which are humorous, others quite informative. Last week, he sent me one concerning the Bakken formation which perked my interest, so I did a little investigative journalism.
The e-mail said the geological formation, which is part of the Williston Basin, has more oil than the entire Middle East combined. Now that caught my attention. Oil was actually discovered there in the early 1950s. However, until the advent of horizontal drilling in the 1990s, the formation produced little in the way of fossil fuels.
Geologists have defined the basin as the western two-thirds of North Dakota, northwestern South Dakota and the extreme eastern sections of Montana. The Canadian province of Saskatchewan also is included.
The hoopla over the Bakkan began in earnest after the issue in April 2002 of a favorable U.S. Geological Survey report on the estimated undiscovered oil reserves there. The problem of accurately estimating these reserves is astronomical. The variables are numerous, and involve measuring porosity and permeability.
Even the definitions of the terms can be misleading, such as the difference between "technically recoverable" and "economically recoverable."
A little "googling" and a few hours of reading revealed the extrapolations made from the USGS report on the projections of the Bakkan oil reserve indicated future independence of petroleum exports at some point in the future were grossly exaggerated.
The North Dakota shale oil discovery certainly will be helpful, but it is no panacea. The promising predictions were obviously meant to lure prospective investors.
Like desperate cancer patients willing to try non-approved drugs to cure their disease, people looking for simple solutions to complex problems suffer from the same malady. Discerning the truth when the information provided is biased, at best, makes it extremely difficult to separate fact from fiction.
When the game is defined by people who have their own self-interests at heart, the public often will find themselves on the losing side. When fringe groups such as environmental extremists dictate policies such as the elimination of offshore drilling or delaying the construction of nuclear power plants, Americans will continue to pay unnecessary costs for power.
If something appears too good to be true, like the Bakkan oil estimates, it usually is. Conversely, if we continue to cater to the whims of the Green Movement, whose followers would be quite content to eliminate fossil-fuel usage altogether, we will suffer the consequences.
We cannot ignore that life has inherent risks. As a nation, we must attempt to make the best choices, while at the same time understand that we cannot have our cake and eat it, too.
No one has a monopoly on the truth. Truth often lies somewhere between the two opposing positions.
Laughlin is a Christian Libertarian. He is an economist, teacher, father, husband and most recently a grandfather. He has written a weekly column for The Tribune for 12 years. He and his wife Gina reside in Meadowlakes. To contact him, e-mail ablaughlin@nctv.com. He is an independent columnist, not a staff member, and his views do not necessarily reflect those of The Tribune or its parent company.