U.S. Energy Crisis

The U.S. Congress

The current energy crisis is the direct result of the U.S. not having a coherent energy policy. Not having a policy is a direct result of our broken political system that is controlled by special interest money that influences every major political issue that effects the U.S. today. The Arab oil embargo of the 1970s should have been a wake up call to our government but it wasn’t. The U.S. has had a moratorium on offshore oil and natural gas exploration and drilling for about 27 years. The moratorium will expire on October 1, 2008 if the Congress does not extend it. Even if offshore drilling is allowed, a U.S. Energy Department study states that there will be no significant impact on prices until 2030. This is because of the length of time required to bring new sources of oil to the marketplace. Some politicians are promising that the energy crisis will quickly disappear if we allow offshore drilling. They will do anything to stay in Washington. A lot has changed in 27 years. There is no shortage of oil, but world demand has skyrocketed. In China alone, in excess of 1,000 new cars are bought daily. India now has a middle class that is larger than the population of the U.S. and they all want new cars.

This energy crisis is a serious threat to the United States. It has an adverse effect on virtually every American citizen: on the nation’s security; and on our rapidly eroding position as a world power. It is crushing our economy which was already fragile. As commerce continues to slow, more jobs will be lost and businesses closed or moved off shore and homes foreclosed. As our dollar weakens, foreign interests are buying into our major corporations. Saudi Prince Waleed now owns 4.9 % of Citicorp’s stock and could increase his stake to 14.9%. A Kuwait fund and a Singapore fund now control over 6% of Merrill Lynch’s stock. Arab interests are also very active in the real estate market buying choice commercial property throughout the U.S. When VISA Card went public recently, the China Wealth Fund bought $100 million of VISA stock. By the way, VISA is the only credit card being accepted at the summer olympics this year in China.

We owe our current situation to the two major political parties (Republicans and Democrats) that have sold out to the special interest groups; and we as voters are also responsible for this mess because too few of us vote. Many of us that do vote, do so along party lines without researching to determine if the persons and parties that we are voting for really represent our interests. Is it in the interest of any middle class American to vote for a Republican who always puts the interest of corporations ahead of the American middle class taxpayers? The answer is NO. Is it in the interest of any middle class American to vote for Democrats that actually encourage the entry of illegal aliens into the U.S. which lowers the quality of life for American citizens because of the pressures put on our health care and education systems and the increased crime that results from the illegal drug trade across our borders? The answer is NO.

The energy crisis will not be solved in a few months or even a few years. It will not be solved by concentrating on only one technology or asset. We need the government together with American industry to focus on using any and every asset and technology that will gradually allow us to become energy independent. It will mean increased exploration and drilling for oil and natural gas. It will mean increased use of bio fuels. It will mean increased use of solar, wind and nuclear energy. It will mean use of “clean coal” if this technology can be used effectively. Clean coal is being advertised but doesn’t really exist yet. Energy independence will happen slowly, but it will only happen if we develop all the assets and technologies that will take us there. The benefits will include many thousands of new jobs, a much improved economic situation and a far more eco friendly environment. It will spur the use of these technologies throughout the world and will provide huge economic benefits to U.S. citizens.

The U.S. emerged from World War II as the most powerful nation on earth. This happened because both the U.S. government and the population focused intensely on winning the war. That effort led to an enormous expansion of the middle class and to many years of a robust U.S. economy. We are now in a new type of war and if we don’t concentrate, will find ourselves on the losing side. The voting public must force the Congress and the new administration to organize our assets and capabilities to overcome this situation as quickly and as efficiently as possible.

Read about the energy situation and what is happening to our institutions and economy as a result of our energy crisis at the websites below.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=adlgNMu.LrHg

http://www.newsweek.com/id/142130/page/1

http://www.mms.gov/ooc/press/2008/pressDOI0730.htm

http://query.nytimes.com/gst/fullpage.html?res=9D0CEEDA103EF931A15751C0A967958260&sec=&spon=&pagewanted=all

http://www.iht.com/articles/2008/01/15/business/banks.php

http://www.directorship.com/china-wealth-fund-buys-into

The Congress recessed again two weeks ago without addressing the energy crisis. They are all back in their home districts glad handing potential voters; hoping to slide back into office in the new Congress in January. If you see any of them, be courteous. Take the opportunity to say GOOD BYE to them. Then in November, VOTE THEM OUT.

ENERGY
Oil
Natural Gas
Bio Fuels
Coal
Solar
Wind
Nuclear
Hydrogen
GeoThermal
Hydro

Friday, August 8, 2008

U.S. Energy Crisis