Ta-Da! Give them a Nobel Prize

As I pointed out here and here, North America is now an oil and gas producing powerhouse and it will only grow over time.

What more proof? Check out the graphic and the article here at Pragmatic Capitalism.

The United States has surpassed Saudi Arabia in oil production (at least in November of 2012). Ta-da! (That's the sound a magician makes when he pulls the rabbit out of the hat.) Why, it seems like just four short years ago when America was on an inevitable road to energy decline with no road to redemption. Don't you just love irony?

Now, the fortuitous side effect is what again? Oh, yes, less war over oil. Add to this a seven million barrels a day unmet capacity in Venezuela - just recently removed from the yoke of Hugo (por que no te callas!) Chavez - and suddenly it's not looking like being an oil sheikh is such a hot gig.

The people that developed the fracking technology should get a Nobel Peace Prize.