Reason for Optimism

He has "a little over 1200 days left in office," a scandal-ridden Barack Obama recently reminded an audience. To which one New York newspaper editorial writer responded, "I imagine that he is not the only person counting down the remaining days of his presidency. ... Given his high recent disapproval polling numbers, I doubt that President Obama will have trouble finding people willing to help him pack his bags as he prepares to vacate the White House."

Given, too, his grossly heavy hand on the free-market economy, no doubt every business sector (and every job seeker) is anxious for that new day.

One business sector isn't waiting, though. As this graphic by AEI's CarpeDiem blog shows, U.S. crude oil production has soared in the last couple of years to 1990 levels.

Bottom Line: A two million bpd [barrels per day] increase in US oil output in only 24 months, almost exclusively from the dramatic increases in shale oil production made possible by revolutionary drilling technologies, is an important energy milestone and has to be one of the most remarkable success stories in the history of US energy production.

Welcome to America’s shale energy revolution, which continues to be one of the strongest reasons to be optimistic about the US economy.

If the energy sector can accomplish this feat despite Obama, just imagine what all other business sectors can do after he leaves office and his anti-free market policies end.