As we pause to reflect on another year ticking away, I want to give you my last pearl of wisdom from 2011. Whether you are Chris, my primary antagonist, who believes government can’t be big enough, or Erv, who believes it can’t be small enough, this may make sense to all.
The biggest boon to taxpayer income in 2011 did not come from your government in 2011. It came from one of the most despised industries in this country. The oil industry.
Due entirely to fracking, natural gas prices fell to two year lows. Down from $13 per million British thermal units in July, 2008, it is trading at $2.989. This has put billions in the pockets of Americans. Even if you don’t heat with gas, your power company has probably used natural gas to create some of your electricity at a cost lower than other options.
In addition, thousands of jobs were created here in the US. And, millions, if not billions, were paid to landowners for the rights to drill and for royalties on gas produced.
Without a dime in your taxpayer money, unlike Solyndra, this is happening. And, with little attention from the media. Hours and hours of debate about payroll tax forgiveness, and this may have been a much bigger benefit.
If you still hate the oil industry and love the government, I can’t help you(Chris), but if you have an open mind think about who is really going to help households balance budgets and get Americans back to work. In one case, it’s like elephants mating, lot’s of roaring, but nothing happening for 18 months(new president and congress) and in the other heating bills go down and people go back to work. Something we need more and more of in 2012.
Happy New Year.
