Renouncing opportunity

US citizens should worry about not benefiting fully from their country's surge in oil production from unconventional resources onshore. The Energy Information Administration expects the total production to reach 8.5 million b/d of crude oil and lease condensate next year, highest since 1972. In addition to boosting domestic energy supply, the increase, from a recent low of 5 million b/d in 2008, lifts employment, incomes, and tax revenues. But it comes disproportionately from nonfederal land. Stinginess with federal acreage by the administration means the imbalance probably will grow. During the first 5 years of Barack Obama's presidency, US production of crude and lease condensate increa...

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