Henry Waxman’s influence, through Section 526 of the Energy Bill, will block U.S. progress toward energy independence similar to Ronald Reagan’s opposition to synthetic fuels.
The USA possesses the world’s largest reserves of “unconventional” oil — coal, and oil shale — estimated to be the equivalent of 1 trillion barrels of oil or more. One trillion barrels of synthetic fuels produced from American coal and oil shale could supply the U.S. with an additional 15 million barrels of oil per day for the next 180 years. Future technology could double or triple that amount. Why, then, is the USA exporting its wealth to foreign countries instead of using the money to develop synthetic fuels from American coal and shale? Why are U.S. citizens allowing it?
