NEW CASTLE —
A stunning report from The Associated Press appeared in yesterday’s edition of the New Castle News.
It offered the prediction that the United States soon may surpass Saudi Arabia as the world’s largest oil producer.
This news comes after years of concerns about dwindling petroleum resources, not only in this country, but in other parts of the world as well. As a result, increased dependency on oil from the Middle East and other potentially unstable areas has become the norm.
One consequence of this situation is that any hint of political instability in the Middle East, or the threat of war, causes a spike in oil prices. When a key resource is constantly endangered by potential violence, it becomes a drain on the economy.
So in that regard, it’s welcome news that America is boosting oil production. Experts anticipate a 7 percent rise in production this year, to 10.9 million barrels per day — the fourth annual increase in a row and the largest since 1951.
How is this possible, when America’s oil was said to be rapidly draining away? The answer, it seems, is technology.
It’s the same technology that’s prompting a boom in shale gas exploration in Pennsylvania. Scientific advances are allowing drillers to tap into deep layers of rock and fracturing them to free the fossil fuels pooling there.
Anything that reduces this country’s dependence on energy from unstable parts of the world has to be seen as a positive. Yet there can be negative consequences. For instance, a major oil spill in the Gulf of Mexico two years ago wreaked havoc on the region, and its full impact remains unknown.
And as the number of drilling operations expand in areas not used to them, there will be conflicts and controversies. We already have seen a few of these in Lawrence County and we’re sure there will be more to come.
Meanwhile, some people may wonder why the price of gasoline at the pumps remains so high if domestic oil production is rising so rapidly. One reason is that despite the domestic oil boom, this country continues to import a substantial percentage of its energy needs.
But equally significant is the fact plentiful domestic oil doesn’t necessarily translate into cheap oil. Drilling deep underground, or far out to sea, are expensive processes. Despite transportation factors, it costs much less to drill and recover oil in the Middle East, than to produce it in America.
This means that strong incentives remain for promoting energy efficiency in order to reduce consumption and to pursue research into cost-effective domestic energy alternatives. America may have dodged an energy bullet with the aid of new drilling technologies, but we are looking toward science to render even more assistance down the road.
Editorials
Our Opinion: In sharp turnaround, nation challenges Saudi Arabian production
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Our Opinion: Privatization of county jail is worthy of examination
Generally speaking, we support government efforts to seek more efficient ways to provide essential services. So we have no problem with the decision by the Lawrence County commissioners to solicit proposals for the private operation of the county jail.
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Our Opinion: We endorse candidates for New Castle board
The New Castle school district is often a study in contrasts. There are complaints about the district on everything from taxes to nepotism, from test scores to ethical slights. Yet at the same time, plenty of students within the district excel. It’s a tribute to the hard work of those students, their families and the educators who support them.
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Our Opinion: You should be frightened, outraged by IRS abuse of power
When people talk about government posing a threat to citizens, a common topic these days is unmanned drones. But a more credible threat may be the Internal Revenue Service. This agency, responsible for collecting taxes and enforcing related rules, has the ability to make life miserable for the average individual.
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Our Opinion: Our endorsements for City Council race
The city of New Castle needs help. Financially distressed and operating under Pennsylvania’s Act 47, New Castle must find ways to reverse its population loss and fiscal challenges.
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Our Opinion: Court frowns on gerrymandering, but only slightly
Pennsylvania legislators have received the green light to put their own political interests ahead of yours. That’s a key point in the latest Pennsylvania Supreme Court ruling on legislative apportionment in the commonwealth.
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Our Opinion: Study says distracted driving deaths are under reported
Suppose you operated a piece of heavy machinery at your job. And suppose it’s machinery that moves quickly with little effort. What would happen if you decided to take one hand off that equipment — while it was still in motion — and instead focused your attention on a telephone call?
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Our Opinion: Senate seeks to give states more taxing power
Congress is taking a stab at tax fairness. At least, where states are concerned. If you’re looking for meaningful reform of the federal tax code, that’s going to have to wait.
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Our Opinion: Look at handling of bombing suspects is warranted
We welcome an investigation into the handling of intelligence related to suspects in the Boston Marathon bombing. That probe may reveal little of value.
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Our Opinion: Right to know reveals intermediate unit problem
At this point, we have few details regarding the resignation of the director of this region’s intermediate unit. Apparently, there was a problem with purchases Cecelia H. Yauger made with a government credit card through the state agency that provides support services to area school districts.
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Our Opinion: New wave of ethics initiatives arrives in Harrisburg
There may be hope yet for Harrisburg. Recent signs suggest that even lawmakers are grasping that the ethics situation in the state capital is taking its toll. Maybe they are hearing from constituents who are fed up with the commonwealth’s seemingly endless string of scandals.
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