No Progress in Oil

37 Years and Still No Advance

Just a couple of nights ago, I was reminded of a speech that President Nixon made that included some real concerns on America’s dependence of foreign oil. Nixon and each subsequent president worked on several initiatives to solve the dilemma of the high cost of oil including coming off the gold standard. There was inflation and the dollar was in trouble. Any of this sound familiar?
History repeats itself often and since 1973, history is repeated often as it relates to OPEC, the value of the dollar, but most of the America can’t seem to invoke the solution when it comes to relying on oil from the Middle East.
America was once the frontier full of innovation, advanced science, entrepreneurial spirit and most of all cutting edge solutions. This remains true if the Federal Government stays out of the way. Federal government intervention has stifled the solution of our dependence on oil regardless of where it comes from. Many other countries are now leading the pack in alternate energy sources and usage.
Solar is old news just as is geo-thermal as solutions to wean us from any kind of oil consumption. Wind use goes back even further. The alternative methods of energy production and usage are really a comedy and an embarrassment 37 years or more later.
The biggest tragedy in this issue remains that our dollar that pays for every barrel of oil leaves this country, leaves jobs for offshore but makes other countries wealthier not only in their respective economies but in their ability to advance in power and presence. America is moving towards the caboose end in economic competition, presence and industry. Who is to blame? Congress is the culprit but American voters allow Congress to remain derelict in their duty.
Congress cannot be trusted either by revealed legislations or those that are hidden and bundled in other laws. Royalties paid by oil companies in the United States are the largest revenue streams to the Federal government outside of taxes. Congress is killing the industry, can you explain that?

Posted in Energy Agenda, Industry Jobs Oil Economics.

Denise Simon