America's Flatulence Problem

flat·u·lence
1. Self-importance; pomposity.
2. The presence of excessive gas.

"When all is said and done, much is said and little is done."

This seems to be the motto of the US Congress in the continuing saga of obscenely high energy prices. It would be bad enough if we were - like most of Europe and Asia - bereft of resources to draw upon in this sector. Yet we possess one of the richest troves of energy stores in the industrialized world.

Between, Alaska, the Gulf of Mexico and the Outer Continental Shelf, the United States is estimated to hold some 406 trillion cubic feet of natural gas as well as over 70 billion barrels of oil. These numbers do not, of course, include the trillions of cubic feet of gas and multiple billions of barrels of oil readily available from our close allies and trading partners in Canada and Mexico.

Why then are we being told that we live in an era of scarcity? The problem, of course, is flatulence! See definition 1. above: "self importance, pomposity" What better description than that is there of the US Congress. The hundreds and thousands of pages dedicated to the useless posturing and pomposity of our elected representatives and still nothing is being done to unlock the treasure trove of energy available off our shores.

And yet, we are afflicted (blessed) with the second part of the definition of flatulence:

2. The presence of excessive gas

Trillions of cubic feet of excessive gas! Congress should ease regulations prohibiting the extraction of energy resources from Alaska and the Continental shelf. We would then see an easing of prices and the resultant relief to the US economy. Time is of the essence though, winter is fast approaching and although the lead times necessary to bring these fields online is measured in years not in weeks, quick Congressional action would calm the speculative fever that has gripped the trading floors of London, New York and Chicago.