It looks like Barack Obama is going to reevaluate his relationship with the Energy Department. According to a report by the National Energy Council prepared for the department, “the U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future.”
In other words Drill, baby, drill!
The U.S. has drastically cut imports and transformed itself into the world’s biggest producer of oil and natural gas by tapping huge reserves in shale rock formations. But the government predicts that the shale boom won’t last much beyond the next decade.
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