Here we go again. Gas is closing in on $4 a gallon, locally, and all we do is wring our hands and complain about it. Diesel, my fuel of choice (need) has already hit that mark, and will no doubt move higher as we get closer to summer. This certainly raises concerns for me and others in my business, as well as any business that relies on the movement of goods or services. What effect will this higher price for fuel have on my business, and our economy in general? Hard to quantify, but it's probably safe to say that the effect won't be positive. Less money in the pockets of consumers is rarely good for anyone, let alone a business like mine. The sad thing is that this need not be the situation we find ourselves in, I believe.
Our President appears to be, and even claims to be, helpless in the face of this increase. What would you propose as a solution, Drill more? As if that were somehow too ridiculous to merit serious discussion. This while talking up algae--yes algae--as a viable energy source. Yet drilling is precisely the solution to the problem. Oil doesn't drill itself.
If I were in his shoes, I would have a fire-side chat with the American people. I would look directly into the camera--from my bully-pulpit--and announce to all of America that energy exploration and production just became my highest priority. I would announce my goal to turn the United States around, in an energy sense, from an importer of two-thirds of its oil, into an energy exporter. I would set a timeline of five years for this, and I would make every attempt to open areas for exploration--federal lands--that have been closed for years and decades. As the Bakken oil reserve in N. Dakota, and the Marcellus natural gas finds have shown us, there is more oil and gas under our feet if we're willing to look.
By some estimates we now have a hundred year plus supply of natural gas at our disposal, due in large part to a practice known as "fracking", that has revolutionized the gas drilling business. By some estimates (the U.S. Geological Survey for one) the Bakken reserve in N. Dakota holds many billions of barrels of recoverable crude. There is more to be found and drilled, from the Gulf of Mexico to the Arctic, on our shores (or off-shores). If our President made such a statement to the American people, the price of gas--driven by the futures markets--would come down very soon. By demonstrating a resolve and committment to solving this problem using our own land and resources, and eliminating any dependance on foreign sources (most of them unfriendly) we also strengthen our country from a national security standpoint. The Straits of Hormuz (yawn)? Sorry, doesn't affect us. No more wars fought for oil.
Then there's the potential revenue to our Treasurey from the sale of all that oil to foreign customers. Those numbers could put a serious dent in our now approaching 16 Trillion dollars of national debt. Like nothing else I know of. How about creating millions of new, high paying jobs? Also goes with the territory. Ask N. Dakota about that.
But don't worry, none of this will happen under this President. He has demonstrated, time and again (Keystone pipleline shoot-down among many others) where his priorities lie (algae). So the price of gas will continue to rise until, or if, we decide to fire him in November. Perhaps you can guess my political persuasion by now; sorry, I didn't intend to turn this blog into a political forum, but one can only ignore the obvious for so long. I make my living in a green industry, and consider myself something of an environmentalist, whatever that means. I also recognize our need for energy and oil, and would rather that we control our own destiny in those arenas than rely on the whims of the world marketplace. I guess that makes me what I would call a "Pragmatic Environmentalist", rather than the radical kind. A pragmatic environmentalist balances the needs of people with the needs of the planet. Building a bridge over the wild and scenic St. Croix river valley (next to a coal-burning power plant)? Bridge one, radicals zero. We have oil needs that will cripple and bankrupt us if we don't drill a lot of wells? Drilling two, radicals zero. You get the picture.
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