Saturday, February 25, 2012


To blame the price of a barrel of oil on the present administration is a bit disingenuous, in my opinion. Besides, there are several factors today that go into the price of a barrel of oil, a commodity used around the world as an investment instrument by hedge fund managers.

The first oil embargo took place in October 1973. The United States has had over 38 years to become energy independent. Of those 38 years, 26 of those years were under a Republican administration. But, we should know that oil and politics, unlike oil and water, does mix. Policies as they relate to oil, its importation and refining into gasoline, diesel and jet fuel is controlled by the oil industry. To jump on the present administration is a bit too late. A plan that would take us towards complete energy independence should have been started 38 years ago under the Nixon administration, but that administration had its own problems to deal with. President Ford did not have very much time because he was voted out in 1976. But President Reagan had 8 years and President George H.W. Bush had 4 years, and his son President George W. Bush had 8 years to deal with our problem. So why with all these Republican Presidents, who know so much about business, do we not have today an ENERGY POLICY? Could it be that the Saudi family runs our energy policy through our presidents?

Bush 43 Stamp by F.D. Zigler, acrylic on canvas board, 2011.

Sunday 2/26/12.
Perhaps the worst part of our inability to develop a policy of energy independence is that it has affected our national security. As a nation, we should have developed alternative sources of energy, so, even though oil is a commodity that is traded around the world as an asset in an alternative investment portfolio, we would not be almost totally reliant upon oil. An army does not put all their resources in one weapon system. So too, a nation should not put all of its resources behind one source of energy - oil. We would be a stronger nation with multiple sources of energy upon which our country could run. If hospitals have backup sources of electricity so if the power goes out from one source they can switch over to another source, shouldn't a country be as well prepared? Energy independence is not just an issue for our domestic economy, but an issue of national security as well.

1 comment:

winslow said...

Now we have a dilemma....the U.S. is beginning to produce more and more oil from shale deposits. The U. S. is also EXPORTING oil and gasoline at this point. However,our capitalistic society mandates that each oil company always strive to increase shareholder wealth, thus, the refined oil MUST be shipped out of America where there is better profit. Ha! We've screwed ourselves with our own system.