I surely am happy to see the US turn itself into what Mark Perry calls, “Saudi America” through its continued development of its oil and gas resources. And while I am nonetheless (even if this had not happened) not worried about “Peak” Oil or Peak Anything for that matter. Nonetheless, I am NOT optimistic that the oil and gas boom will be long-lasting or have much spillover into the rest of the economy. Ought “we” permit its expansion? Sure. Ought “we” be happy about it? Sure. But I would recommend strongly against using this as some “turning point” for America. And I would warn even more that if the boom continues, it may even perhaps be a curse and not a blessing. If resource revenues come pouring in, then where is the urgency to get our entrepreneurial, legal, fiscal, etc. houses in order?