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.