July 9, 2012: speaking of blinders (and gnats), I don't want to beat a dead horse, but timing is everything. As noted earlier. One doesn't have to ban something to destroy/bankrupt an industry. Here's a coal company that is biting the dust, literally and figuratively: Patriot Coal files for bankruptcy protection. The man in the video must be smiling. Thinks are happening as he predicted.
July 9, 2012: I don't know if folks have blinders, or if they really don't know. Shortly after posting the original note below, I received a comment asking for the source of my comment regarding the President's statement that one can destroy an industry without banning it. I don't know how many times I have posted this video, but what a great opportunity.
Later, 5:00 p.m.: Here's a great pdf file that provides more background to the "permitorium" in Montana. Note the date of the PDF. And folks wonder why I constantly remind readers of the pending EPA fracking regulations set to go into effect sometime after the comment period ends September 10, 2012. We'll get a side-by-side comparison of federal bureaucracy and state permitting processes.
Original PostLink to American Spectator here, sent in to me by a reader.
North Dakota has 3x the proven oil reserves that Montana has, but 10x the drilling. How come?
Another is land ownership: Montana has a higher percentage of federal land, which is more difficult to drill. Regardless of how much President Obama may boast about increased domestic oil production during his term in office, the dirty secret is that most is taking place on private property, where it can't be blocked by the federal government.By the way, I have a post that compares the business climate of Minnesota with that of North Dakota.
Those matters aside, Montana's business, regulatory, and legal climate is still unfavorable compared to neighboring states like North Dakota. We've been down this road before. In spite of the fact that Montana sits on the nation's largest coal reserves, its coal production is vastly out-stripped by its historically business-friendly neighbor to the south, Wyoming, which has capitalized on much smaller reserves.