With everything going on in the world, it's surprising that our energy costs haven't started to skyrocket. What's saving us from rising costs? Fracking! But, of course, the EPA and big government are doing all they can kill this industry. Surprised? You shouldn't be. Glenn explained on radio this morning.
"I read something amazing last night on why we are paying so little for our energy costs. With everything that is going on, why has our electricity bill not skyrocketed more than it already has? The answer is fracking. Fracking is so incredibly important to the United States of America, especially with everything else that is happening in our country. When they're taking apart energy left and the right, the only thing that has saved us is natural gas. The natural gas industry has pulled off a miracle. You want to talk about divine providence, here it is: Natural gas and fracking," Glenn said.
"Fracking unleashes natural gas in untold units. We had no idea how much energy we really sat on. We all guessed that we were an energy leader in the rest -- for the rest of the world, but it's absolutely true."
Glenn explained that when entrepreneurs first started fracking, they expected to reduce costs by about a third and as a result generate more natural gas that they could sell a lot of for a better price.
"They unleashed much more than they ever thought possible and it made the price of natural gas plummet to where it's almost free. They can't pump it out of the ground. They can't get -- they can't afford to do it. Now these smaller companies are starting to go under because they invested in all of this infrastructure and because the price of natural gas is so low, they can't pay the mortgage payments on all of their infrastructure. Some of them are going out of business. Others are just starting to turn everything down, turn the pumps down, because they can't afford to pump it. And so now our natural gas prices are expected to rise. They have to," Glenn said.
"Here is American ingenuity and entrepreneurs showing you how to find clean and plentiful energy and to do it not with the government, in spite of the government and look what's happened."
"Now the government, of course, can't help them. In fact, states are trying to stop fracking. The EPA is after everybody now. Anybody who's trying to produce energy, fracking is dangerous. Is it, really? Here's the additional problem: The coal industry, which is -- the Obama administration is trying to put out of business, a lot of them took their coal fire plants and converted them over to natural gas-fired plants, knowing that fracking had just changed the game entirely, but now that natural gas has to necessarily skyrocket, what do we do with the coal fire plants that are no longer coal fire plants, they're natural gas plants?"
Glenn explained that EPA Region 1 Administrator Curt Spalding had even been caught admitting how Obama's policies are killing whole communities!
Spalding was caught on tape saying:
But know right now, we are, we are struggling. We are struggling because we are trying to do our jobs. Lisa Jackson has put forth a very powerful message to the country. Just two days ago, the decision on greenhouse gas performance standard and saying basically gas plants are the performance standard which means if you want to build a coal plant you got a big problem. That was a huge decision. You can’t imagine how tough that was. Because you got to remember if you go to West Virginia, Pennsylvania, and all those places, you have coal communities who depend on coal. And to say that we just think those communities should just go away, we can’t do that. But she had to do what the law and policy suggested. And it’s painful. It’s painful every step of the way.
"I want you to understand what he just said," Glenn said, "He's talking about an actual community, towns. You just have to go away."
"Yeah, but he's the victim," Pat joked. " I'm destroying your life completely and it really hurts me to do that. Oh, I'm in pain! Don't you people understand my pain?! Yes, you're without a home and a community. I had to tell you that! I hurt. Okay?!"
"This is not just shutting down an industry. This is stomping out the entire community," Glenn said.
Glenn heavily criticized the media for not covering this story and blamed it on a bias against the rural communities, and warned that if the Obama administration and the EPA are successful at killing energy industries that use fossil fuels, the impact will be irreversible.
"This isn't something like you make this mistake and go, 'Oh, man, we shut down the coal industry. That was a mistake. You know what? Call them back up and tell them we're going to buy some more coal'."
"Wake your neighbors up. Another four years of this is going to kill us. It's going to absolutely kill us," he said."