In 1977 President Jimmy Carter signed onto the new government agency called the Department of Energy. It currently operates on a budget of 30.6 billion dollars a year. During that time to 2013 the Department of Energy hasn’t produced one drop of  oil and gas prices went from 30 cents a gallon to $3.60.

            The price of natural gas, however, is at a 20 year low. At the pump natural gas is $1.50 to $2.00 cheaper than gasoline.  It is 80% cheaper than oil. It’s all because of fracking and free enterprise.  The output of natural gas has increased 30% between 2008 and 2012 with no end in sight. That coupled with the output of oil could make America energy independent in the foreseeable future.

            Bentek Energy of North Dakota predicted that that state’s production is likely to increase sixfold in the next 10 years driving the price of natural gas even lower. We just need to get government out of the way and let free enterprise operate.

            Yet we spend over 30 billion dollars for the department of energy that doesn’t produce one drop of oil and is unconstitutional. It is, by the way, one of 5 departments that Ron Paul campaigned to eliminate if he were to be elected president.

Ron Baert.

Total US Debt To GDP: 105%

Now that we have the first estimate of Q1 GDP growth in both rate of change and absolute current dollar terms ($16,010 billion), we can finally assign the appropriate debt number, which we know on a daily basis and which was $16,771.4 billion as of March 31, to the growth number. The end result: as of March 31, 2013, the US debt/GDP was 104.8%, up from 103% as of December 31, 2012 or a debt growth rate that would make the most insolvent Eurozone nation blush. There was a time when people were concerned about this unsustainable trajectory, but then there was an infamous excel error, and now nobody cares anymore.

New leadership elected today including Keith Downey, Chris Fields and Kelly Fenton. Click here for article.

Our board meeting has been moved this month to Friday April 12th 6pm at the St. Cloud Airport. John Pederson will be our guest speaker. Please come out with questions for John.

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