David Frum

04.30.13

Peak Oil Still Isn't Real, You Guys

David McNew/Getty Images ()

And despite all the Malthusian nonsense, we've still got plenty of oil and natural gas, reports the National Journal's Amy Harder.

The United States has double the amount of oil and three times the amount of natural gas than previously thought, stored deep under the states of North Dakota, South Dakota, and Montana, according to new data the Obama administration released Tuesday.

In announcing the new data in a conference call, Interior Secretary Sally Jewell also said the administration will release within weeks draft rules to regulate hydraulic fracturing, technology that has come under scrutiny for its environmental impact but that is essential to developing all of this energy.

“These world-class formations contain even more energy-resource potential than previously understood, which is important information as we continue to reduce our nation’s dependence on foreign sources of oil,” Jewell said in a statement.