Victor Davis Hanson: America’s Big Fat Advantage

NRO contributor Victor Davis Hanson is a senior fellow at the Hoover Institution. His The Savior Generals will appear in the spring from Bloomsbury Books. © 2013 Tribune Media Services, Inc.

For all the Obama-era talk of decline, there is at least one reason why America probably won’t, at least not quite yet.

“Peak oil” and our “oil addiction” were supposed to have ensured that we ran out of either gas or the money to buy it. Now, suddenly, we have more gas and oil than ever before. But the key question is: Why do we?

The oil-and-gas renaissance was brought on by horizontal drilling and fracking that opened up vast new reserves that were previously either unknown or considered unrecoverable. Both technological breakthroughs were American discoveries, largely brought on by entrepreneurial mavericks and engineers exploring on mostly private lands. Couldn’t the Saudi, Venezuelan, or Nigerian oil industry have discovered these new methods of resource recovery, given their nations’ reliance on petroleum exportation?