Right now the United Sates is reaping the very predictable rewards of our misguided energy policy for the last 30 years. This should be no surprise. Why are we dependent on foreign oil for 60% of our needs?
Let's look at what we've been doing. It has all the ingredients of a perfect storm...
1) Environmentalists have forbidden drilling in the Alaskan National Wildlife Reserve (ANWAR) even though present technology can explore ANWAR, which has 19 Million acres, with a footprint of only 2,000 acres. This is the equivalent of the size of one letter on the page of a full size newspaper!
2) Drilling on the outer continental shelf (OCS) has been forbidden for decades.
3) China has been allowed to buy drilling leases 40 miles off the Gulf of Mexico, from Cuba - a location that is forbidden to American companies - while we wring our hands about carbon footprints.
4) We haven't built a nuclear reactor for 3 decades because of the agonizing, expensive and complex years-long regulatory permit requirements.
5) Because of our lax border security, tens of millions of illegal immigrants have swelled our population, adding to the energy requirements of the nation.
6) The was againt terror has cost over $600 Billion. Not only has it drained our treasury, but by borrowing from foreign countries to pay for it, the very value of the dollar continues to decrease, making everything - including gasoline - cost more in dollars. In addition, some the money that we pay to the oil producing countries ends up in the hands of peope friendly to the terrorists - prolonging the war and making it even more expensive and dangerous.
7) In the western states we have oil shale and oil sands with reserves estimated to be three times the reserves of the total middle east countries. Even though technology exists right now that could extract this oil in an environmentally safe manner, Congress is not allowing us to do so.
8) Congress is posturing once again for "windfall profits" taxes. Let's think about this. If you tax something, you get less of it. If we tax oil more, is it going to get cheaper? DUH.
And now, some are actually calling for the nationalization of the refineries! Of course, they know better than to call it that. They call it "ownership by the American people". Remember, this is the same government that so well handles the problems of Social Security, health care, Medicare, entitlements, immigration and the Katrina flood...
How well does nationalization of industries work for the people? Why don't we ask the citizens of Cuba, Venezuela and Russia how much benefit they got from the government's confiscation of assets from their rightful owners? In Cuba, drivers are holding their 1952 Chevrolets and Fords together with baling wire and duct tape.
Alternate energy solutions are all very well, but at the moment they're a drop in the bucket. The public doesn't have any concept of the huge amounts of oil needed to keep our economy running. Who can visualize 85 million barrels a day?
Just the statement by the U.S. that we were serious about recovering our own resources, would immediately drive down the price of oil. Speculators have been bidding the world price up due to fears of shortages.
We haven't seen the worst of this yet. If we don't start responsibly developing our own vast proven oil and shale reserves, our economy is going to come to a grinding halt like we haven't seen since the Great Depression...
As of today, over 1,000,000 people have signed Newt Gingrich's American Solutions Petition: Drill Here, Drill Now, Save Money!
©BrianSchulman2008
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