US Won't Stop Fracking -- "Frack and Trade" -- The Bakken, North Dakota, USA

The US, I believe is about $15 trillion in debt. I could be wrong; I thought I heard the other day that we would soon be approaching that number.

Be that as it may, the ultra-super-secret committee (USSC -- I was unable to find a synonym for "committee" that started with an "r") on resolving the debt is proposing saving $6 billion over 10 years by replacing paper money with coins (won't happen).

Two points: first of all, I doubt I am the only one that finds it ludicrous that the USSC is spending time on $6 billion over ten years when we're looking at $15 trillion in debt that is growing.

Second: the US collected more than $11 billion from energy royalties in 2011, and that was despite the permitorium in the gulf, decreased drilling in Alaska, and slow-rolling the oil and gas industry on federal land. $11 billion in one year from one industry. For perspective, GE paid no income taxes in 2010; and I believe GM was coming out of bankruptcy. I doubt Solyndra paid much in taxes.

So, no, the US is not going to shut down the oil and gas industry, especially in fly-over country. But, the government will extract more money from the shale oil industry through "frack and trade."