datalink1995

Thursday Outlook: Crude Awakening

Our country is sending $600 billion for imported oil to countries that, for the most part, hate us. I read somewhere that if we were able to tap in to all the off shore and Alaska oil that it would only reduce our imports by 20%, and would mean very little to our trade imbalance. If you take 20% of $600 billion, that is $120 billion. That is a sizable sum! We need to ignore the tree huggers and tap this source.

If I were a presidential candidate I would be making the following campaign promise.

1. Since oil is a natural resource like our forests and national parks, I would establish a Federal Trust under the Dept. of Energy to develop and manage the oil which would be sold at market prices. In effect, nationalizing these oil wells. No I’m not a Socialist.
2. The money would go to the states bordering the wells and to Social Security, Medicaid, and other entitlements that are running out of money.
3. Lift the ban on construction of new refineries.

Of course this will never happen because none of the candidates have the guts to go up against all of the special interests who would be adversely affected by a plan like this.

Hey…but what the heck do I know!