U.S. oil and natural gas production has skyrocketed in recent years thanks to hydraulic fracturing, a technology that allows engineers to access deep-underground resources from rock formations once too expensive to develop. This technology has made the United States the largest producer of natural gas in the world and on track to surpass Saudi Arabia as the leading producer of oil by 2015. The entire U.S. public benefits from this inexpensive domestic source of fuel.
Tagged: private property
This time of the year, whether in good economic times or bad, is when Americans gather with their families and friends and enjoy a Thanksgiving meal together. It marks a remembrance of those early Pilgrim Fathers who crossed the uncharted ocean from Europe to make a new start in Plymouth, Massachusetts. What is less appreciated is that Thanksgiving also is a celebration of the birth of free enterprise in America.
Some of those who support government regulation–and most mainstream contributors do so–maintained that being opposed to government regulations is like being opposed to laws. And since laws are necessary for a just society, the inference was drawn that so are government regulations.