“The technically recoverable coal resources in the United States are unsurpassed and total 50 percent of the world’s coal reserves. At 486 billion short tons, it can supply our country’s electricity demand for coal for almost 500 years at current usage rates.”

Coal produced on federal lands has decreased less than that of oil and natural gas. Coal production on federal and Indian lands peaked at 509 million short tons in fiscal year 2008 and has been decreasing slightly each year since then. In fiscal year 2011, coal sales from production on federal and Indian lands reached 470 million short tons, a 2-percent decrease from fiscal year 2010 and an 8-percent decrease since the peak in fiscal year 2008. [1]

At today’s prices, the value of the government’s estimated coal resources in the lower 48 states is $22.5 trillion for a total fossil fuel value on federal lands of $150.5 trillion.…

Ed. note: This three-part post series (Part II: Coal Issues tomorrow; Part III: Federal Lands Potention on Friday) is taken from testimony presented by Mary J. Hutzler on February 5, 2013, before the Subcommittee on Energy and Power, Committee on Energy and Commerce. The hearing was titled: American Energy Security and Innovation: An Assessment of North America’s Energy Resources. A summary of her remarks is here.

The United States has vast resources of oil, natural gas, and coal. In just a few short years, a forty-year paradigm that the U.S.  was energy poor has been reversed. The world’s mineral-energy resource base is enlarging, not depleting–and leading the way is the U.S. with private firms exploring and producing from private lands.

In December 2011, IER published a report entitled North American Energy Inventory that provides the magnitude of these resources for the United States, Canada, and Mexico.…

“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. To the naive mind that can conceive of order only as the product of deliberate arrangement, it may seem absurd that in complex conditions … adaptation to the unknown can be achieved more effectively by decentralizing decisions…. Yet that decentralization actually leads to more information being taken into account.”

– F. A. Hayek, The Fatal Conceit: The Errors of Socialism (1988), p. 76.

Stephen Chu, Secretary of the U.S. Department of Energy (DOE), announced last week his intention to step down once a replacement is found. His 3,800-word resignation letter should be critically studied by students of energy policy and, indeed, public policy more generally.

I offer ten critical points to bear in mind as Chu’s letter is read (other points can be added in the comments section).…

“[Sean] Lennon fancifully likened drilling and gas production to awakening a sleeping dragon. His mother said later of the comparison, ‘That’s beautiful,’ but, thinking on it some more, suggested ‘it’s a sign of a devil, actually. In my mind it’s more like a snake. A dragon is too big; you’re giving too much respect for this thing.’”

– Eric Roston, “On New York Shale Gas, Yoko Ono and Sean Lennon Say Let It Be,” Bloomberg.com (January 23, 2013).

That’s Sean Lennon and his famous mother, Yoko Ono, speaking to reporters taking a tour of Susquehanna County, Pa., in an effort to highlight the supposed dangers of natural gas development. They were accompanied by Susan Sarandon, Josh Fox (producer of Gasland) and Ghandi’s grandson, not to mention a bevy of local anti-development celebrities.…