Posted on 10/14/2014 7:45:55 AM PDT by LRoggy
We don’t need more supply (production is at 30 year highs). We are bordering the point now where it’s too much for refining capacity. Unless the laws are changed and we can begin exporting all the new supply will do is collapse prices to the point where it’s unprofitable to extract new supply from the ground. We are reaching that point around $80/bbl.
Nope, just open up American oil to world markets, allow pipelines to be built, and allow refining capacity to expand. I’d toss in a single gasoline mix for the entire nation and eliminating the EPA, but that’s just me.
I’ll trade American dollars for cheap oil until they run out. We should also sell our oil on the open market.
That is going to wreck USA independent drillers.
Plus, give a severe beating to the stock prices of big USA oil firms.
Forty years ago we got our first OPEC oil shock.
America has probably invested a trillion dollars in alternate energy since then.
The result?
We have completely destroyed our coal industry.
We are trying to destroy our nuclear industry.
We still have no viable energy solution for our transportation industry.
We have fought 3 wars against the Muslims.
Israel still lives under constant threat.
And “renewables” make up maybe 5% of our energy equation.
That is so insane.
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