Oil to Burn

Late night comedian Jay Leno said the following in one of his monologues on the high price of gas:

“There was a sign at the gas station near my house that said, ‘We take Visa, Master Card, Discover Card, and American Express.’ And sure enough, after I filled up they took my Visa, Master Card, my Discover Card, and my American Express.”

I don’t have to tell you what it now costs to fill up your car with gas.  For instance, in our case, just to drive round trip to Albany, New York, to visit family, now runs over $200 in fuel (and tolls).  Money that for decades has primarily gone overseas to the Persian Gulf.  But that is all about to change.

Anu K. Mittal, the Director of Natural Resources for the Government Accounting Office recently testified under oath before Congress:

“The GAO estimates that the Green River Formation, a vacant tract of federal land where Colorado, Wyoming, and Utah come together, contains as much recoverable oil as (get ready for this) all the rest of the world’s proven oil reserves combined.”  That’s over 3 trillion barrels of oil just there.  And this total does not include the oil reserves offshore and in the arctic.    

But this is not just the government talking.  Those in the private sector are expressing the same view Harvard Professor, Neil Ferguson, adds:

“If there’s been one consistent thread running through the United States financial story since 2008, its been the steady drumbeat of gloom.  Recession, if not depression, stubbornly high unemployment rates, and mounting debt, have been the topics of discussion when it comes to the world’s biggest economy.  But now an unlikely champion for U.S. prosperity under the Obama administration has emerged, fracking (forcing rocks open by injecting fluid into cracks) and it already is a game changer.  So much so that two weeks ago the International Energy Agency made the jaw-dropping forecast that the United States would pass Saudi Arabia  as the world’s biggest oil producer by the end of this decade and soon thereafter achieve complete energy independence.”  Then Professor Ferguson concluded with this statement, “I predict the result will be America leading the world into a golden age of prosperity.” 

That last line caught my attention because I have been preaching for years that the rapture will not occur in the midst of a global economy caught in unrelenting poverty but one basking in unbelievable riches. 

Remember what Jesus said of the world near the end of time, But as the days of Noah were, so shall also the coming of the Son of man be.  For as in the days that were before the flood they were eating and drinking, marrying and giving in marriage… (Matthew 24:38,39) And recall what John said of the end-time church, Because thou sayest I am rich, and increased with goods, and have need of nothing… (Revelation 3:17).

The bottom line?  Things are going to get a lot better in this old world before they get a lot worse.