There Are No "Oil Giants" in America
Exxon-Mobile is a tiny oil company (even though it is the biggest of the U.S. oil companies.) At 18th in the world, it ranks way down in the scales. The other 17 companies are the real oil giants. They are all government-owned oil companies. Saudia Arabia. Kuwait. Venezuela. Pemex in Mexico. It is a very different picture from what you may have been thinking, or hearing from Congress.
You want to go after the "oil giants"? Good! Then look somewhere else. None of them are U.S. oil companies, which have shrunk and shrunk over the years, under environmentalist attack in the U.S., and through being shut out of foreign oil by the governments who own all the oil in their countries.
You really want to go after the "oil giants?" (Remember now, all of them are oil giants owned by the governments of other countries.) Then drill here! Drill now! What is happening to our energy is going to hurt everyone in the U.S. and in the world.
Someday we may have enough alternative fuels, on a massive-enough scale and cheap enough, to take oil's place. We need to keep trying. But until then, right now, we need to INCREASE THE SUPPLY OF OIL. If we wait, we will get poorer and poorer and have less and less money to finance a great effort to increase our domestic oil supply. And if we don't start now, it won't be fixed at all, much less 10 years from now.
Please - get on the right side of this! If you want to know how bad it can get, start with looking at the "oil shock" during the Carter years. That was inflation rates of 12%, interest rates of 12%, and the highest unemployment rates since the Great Depression.
And this time can get even worse than that. The 1970s Oil Shock was a minor shock, deliberately caused by OPEC. This time, OPEC is involved, but there are also much greater other problems, real, stubborn and huge, between soaring demand for oil and a shrinking supply. That equation will only get worse, for years to come. It will affect global politics, global warfare and the global economy. Everyone in the world will be affected, even Americans.
If we don't drill now, and drill here, we are going to be very, very sorry. The resulting pain will bring down many a politician and raise national misery to a level we have not seen in 2 or 3 generations. We are already getting a very small taste of what lies ahead.
For your own sake - do whatever research on this you need to be convinced of the actual facts. They are very different from what Congress has been saying. And the solution is not less U.S. oil, but way, way more.
(May I suggest you start with what economists say, instead of your friendly politicians?)
You want to go after the "oil giants"? Good! Then look somewhere else. None of them are U.S. oil companies, which have shrunk and shrunk over the years, under environmentalist attack in the U.S., and through being shut out of foreign oil by the governments who own all the oil in their countries.
You really want to go after the "oil giants?" (Remember now, all of them are oil giants owned by the governments of other countries.) Then drill here! Drill now! What is happening to our energy is going to hurt everyone in the U.S. and in the world.
Someday we may have enough alternative fuels, on a massive-enough scale and cheap enough, to take oil's place. We need to keep trying. But until then, right now, we need to INCREASE THE SUPPLY OF OIL. If we wait, we will get poorer and poorer and have less and less money to finance a great effort to increase our domestic oil supply. And if we don't start now, it won't be fixed at all, much less 10 years from now.
Please - get on the right side of this! If you want to know how bad it can get, start with looking at the "oil shock" during the Carter years. That was inflation rates of 12%, interest rates of 12%, and the highest unemployment rates since the Great Depression.
And this time can get even worse than that. The 1970s Oil Shock was a minor shock, deliberately caused by OPEC. This time, OPEC is involved, but there are also much greater other problems, real, stubborn and huge, between soaring demand for oil and a shrinking supply. That equation will only get worse, for years to come. It will affect global politics, global warfare and the global economy. Everyone in the world will be affected, even Americans.
If we don't drill now, and drill here, we are going to be very, very sorry. The resulting pain will bring down many a politician and raise national misery to a level we have not seen in 2 or 3 generations. We are already getting a very small taste of what lies ahead.
For your own sake - do whatever research on this you need to be convinced of the actual facts. They are very different from what Congress has been saying. And the solution is not less U.S. oil, but way, way more.
(May I suggest you start with what economists say, instead of your friendly politicians?)
posted by Old Neocon at 1:07 PM
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