Suddenly we have a lot more oil than we thought we had.
Because of new technology, Newt Gingrich asserted in a rally yesterday afternoon in Rosemont, Illinois, "In North Dakota they have now announced that where they thought they had 150 million barrels of oil, they now believe they have 24 billion barrels of oil."
"They think the long run potential with the next generation of technology is that there is 500 billion barrels in North Dakota," he summarized.
When he said this, I was thinking to myself about how President Obama and the Democrats are ludicrously preaching oil scarcity.
The former House Speaker then talked about what the oil boom has done to lower the Peace Garden State's unemployment rate--which has also led to 16,000 unfilled jobs there.
"So one of my proposals is that we modernize the unemployment system--so that if you sign up for unemployment you have to take a business-led training program so that you're actually increasing your marketable skills in return for us giving you money," Gingrich said." He added, "That's the kind of change we need if we are going to compete in the world market."
Also, we need to be ready for more oil booms is how I view it.
Gingrich spent the last two days campaigning in northwest suburban Chicago in advance of Tuesday's Illinois Primary.
On the former House Speaker's side is his wife, Callista. Behind both of them is signage touting Gingrich's $2.50 per gallon gasoline pledge and his #250gas Twitter hashtag
McHenry County Blog has a report on Gingrich's Lake-in-the-Hills appearance.
Video: Newt on brain science and gasoline
Video: Newt on shipping packages and illegal immigration
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