Private Enterprise and Unconventional Natural Oil and Gas Production

Posted on September 11, 2013 by

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I came across an interesting article in the Wall Street Journal yesterday. More on Fracking and the Poor reminds us that it is private initiative and activity that is the source of economic growth in the US economy. The concluding paragraph reads in part: “It’s a classic American story of innovation, human ingenuity, risk-taking and capital investment, not subsidies or the 47 federal job-training programs. The irony Washington will never appreciate is that fracking has done more for the less fortunate in the Obama years that all of its ministrations combined.” The research on which the article is based was conducted by IHS and is available for download.

Private enterprise is the bedrock on which our economy rests. People made in the image of God (Genesis 1:27) reflecting his creativity expressed in human ingenuity are the source of all economic wealth. A natural resource has no value unless people discover some way to use the resource in a new way that helps other people. Unconventional natural oil and gas production is an example of free enterprise providing the path to human flourishing.

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