Oil and Theory
Joe Biden said yesterday that oil prices were down 14%. And, on the international front, Nancy Pelosi brought good wishes to Zelensky from Billy Jean King. We are structuring a Middle East peace program around Iran. We are taking on debt to fight inflation. These are our leaders. Parody is coming front and center.
Our management of energy in the near future will be a touchstone of the quality and honesty of the country's leadership. And maybe of the reliability of the democratic system.
We have decided not to buy Russian oil. The announcement of this completely symbolic act was done without the officials wearing vestments. We can now return to the TV non-discussion over no-fly zones.
We have turned down our energy production as we financed the Russian mugging of Ukraine through our buying Russian oil, we are negotiating--with the help of the Russians!--with Iran(!) so we can buy their oil, using the promise of financing Iran's nuclear ambitions as an eager partner of the Middle East suicide pact, and we have opened negotiations with Venezuela--Venezuela(!)--for their oil. And, of course, we rely upon the kindness of the Saudis.None of this stands the most superficial scrutiny.
The current mantra in the White House vihara is that American use of Russian oil, however abhorrent, depends upon the tendencies and preferences of the Europeans, the EU and NATO. So, as always, the magician distracts.
The point is not the use of Russian oil. It is only 4% of our consumption. And, if we stopped it, that would make oil more available to the Europeans. The essential point is American production, not American consumption. Our own production could make our own demands independent of foreign production, a concern we have with all of our other essential products--semiconductors, rare earths, steel--whether for convenience or security.
The current mantra in the White House vihara is that American use of Russian oil, however abhorrent, depends upon the tendencies and preferences of the Europeans, the EU and NATO. So, as always, the magician distracts.
The point is not the use of Russian oil. It is only 4% of our consumption. And, if we stopped it, that would make oil more available to the Europeans. The essential point is American production, not American consumption. Our own production could make our own demands independent of foreign production, a concern we have with all of our other essential products--semiconductors, rare earths, steel--whether for convenience or security.
America's economic and military future will depend on scarcity. Only oil, seemingly, is exempt from the discussion of the importance of having domestic production as a solution to possible scarcity and security risk.
If Trump had allowed such a vulnerability through overt policy, he would have been impeached.
2 comments:
Jim, still worried about the RUSKIES
Suggest you ask Biden for air cover with f22’s and f35’s
It's interesting that the Russians have been allowed to write the rules of their own invasion.
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