Now we need to promote the use of natural gas in this country as a transportation fuel. It would be nice if we could eliminate the need to import 10 to 12% of the worlds oil. Once oil prices drop, Iran for one would need to pump and sell more oil to maintain their domestic programs. More oil on the world market should lead to much lower prices.
Correct. NG, diesel and improved ICEs. also in the big cities congestion taxes (let the NYers pay for democrats)
The petrodollar arrangement has been very good for us but, unfortunately, it's a jesus nut and, as such, we spend a lot of time, money, and energy ensuring that that nut doesn't come off because if it does, it's COMWEC time.
Furthermore, I'm not sure lower oil prices are a good thing for America. If supply is too high and/or demand is too low, prices drop and shale oil extraction becomes cost prohibitive.
This is my present understanding of the situation.
Reagan defeated the Soviet Union by deregulating oil prices in America. We need to do the same with regard to environmental laws that effectively do the same. The problem is how do we assure responsibility while dismantling the government's ability to hold producers accountable? There is a way to do that via tort reform and insurance deregulation in a carefully designed market structure. This is where the laboratory of natural law competition among the states would shine.
How about just taking the lid off of all American energy resources? Coal is still viable in many regions, but wouldn’t it be great to have mini-nuclear reactors serving 10-20,000 homes/households? That kind of distributed power would end a lot of the risks of terror or cosmological damage to our power system. If each were built with a 100% over capacity you’d be well covered. Simply add additional buried units as a population expands and hook it up to the grid.