Over the past decade, we have seen an astonishing recovery of America’s position as a major producer of fossil fuels. In the case of natural gas, the reserves in North America appear extensive enough to sustain most of the energy demands of the American, Canadian, and Mexican economies and still export substantial amounts of that crucial energy well into the next century.
J. Paul Getty advised young people to rise early, work hard, and strike oil. It was the recipe to success for many an American robber baron of the nineteenth century, a fortune in both senses of the word being made all over again as hydraulic fracturing enables American energy production to burgeon. American energy production is advancing our national security, as well, emboldening our friends and impinging on our enemies
The revolution in U.S. energy production is one of the big stories of our time, and it has consequences for the future of America’s primary geostrategic project of generating, leading, and defending a liberal capitalist world order. Not every result of American energy production will be positive, but the net effect will be to support America’s ability to play a leading role in world affairs.