Why Is Everyone Lying About Energy?
By Alan Caruba
"In terms of our enormous energy needs, Congress and the White House are seriously mismanaging America. Energy is the “master resource.” Without it everything else slows, stalls, and stops. The nation’s economy is entirely dependent on our ability to function in a world where oil, natural gas, and coal are global commodities. They don’t have a nationality. They have a price. And that is set by supply and demand, not the federal government.
In one of the most brilliant analysis of America's dependency on oil, "Gusher of Lies", by Robert Bryce, the author spells out the realities of a world in which, not just the United States, but all nations are going to be importing oil for as long as crude can be pumped from places around the world that include the Middle East, Russia, Africa, South America, and the deep ocean waters.
The problem is not a lack of known reserves of oil. The problem is the way the lack of knowledge by the consuming public is being exploited.
Yes, the price of a barrel of oil has reached and surpassed $107, but that price is subject to a myriad of factors that have nothing to do with scarcity. As OPEC president, Chakib Khelil, told reporters recently, "There is sufficient supply. There's plenty of oil there." He's telling the truth. One factor is the falling value of the U.S. dollar. Oil that is priced in Euros has not risen nearly as much.
"Energy independence," says Bryce, "is hogwash. From nearly any standpoint-economic, military, political, or environmental-energy independence makes no sense. Worse yet, the inane obsession with the idea of energy independence is preventing the U.S. from having an honest and effective discussion about the energy challenges it now faces." Read on....
"In terms of our enormous energy needs, Congress and the White House are seriously mismanaging America. Energy is the “master resource.” Without it everything else slows, stalls, and stops. The nation’s economy is entirely dependent on our ability to function in a world where oil, natural gas, and coal are global commodities. They don’t have a nationality. They have a price. And that is set by supply and demand, not the federal government.
In one of the most brilliant analysis of America's dependency on oil, "Gusher of Lies", by Robert Bryce, the author spells out the realities of a world in which, not just the United States, but all nations are going to be importing oil for as long as crude can be pumped from places around the world that include the Middle East, Russia, Africa, South America, and the deep ocean waters.
The problem is not a lack of known reserves of oil. The problem is the way the lack of knowledge by the consuming public is being exploited.
Yes, the price of a barrel of oil has reached and surpassed $107, but that price is subject to a myriad of factors that have nothing to do with scarcity. As OPEC president, Chakib Khelil, told reporters recently, "There is sufficient supply. There's plenty of oil there." He's telling the truth. One factor is the falling value of the U.S. dollar. Oil that is priced in Euros has not risen nearly as much.
"Energy independence," says Bryce, "is hogwash. From nearly any standpoint-economic, military, political, or environmental-energy independence makes no sense. Worse yet, the inane obsession with the idea of energy independence is preventing the U.S. from having an honest and effective discussion about the energy challenges it now faces." Read on....
posted by HeavyHanded at
4:49 PM
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