We rely on petroleum for much more than just powering our vehicles: It is essential in everything from jet fuel to petrochemicals, plastics to fertilizers, pesticides to pharmaceuticals. According to the Energy Information Administration, our total domestic petroleum consumption last year was 19.5 million barrels per day (bpd). Motor gasoline and diesel fuel accounted for less than 13 million bpd of that. Meanwhile, we produced only 4.95 million bpd of domestic crude. In other words, even if we ran all our vehicles on something else (which won’t happen anytime soon), we would still have to depend on imported oil. And we’ll continue that dependence until we develop our own oil resources to their fullest extent.
To pretend we can do without oil is to marry a fantasy. With the weak dollar the need to use our own resources is even more urgent. Not to mention the jobs it produces during a time of very high unemployment. She concludes thusly:
Alternative sources of energy are part of the answer, but only part. There’s no getting around the fact that we still need to “drill, baby, drill!” And if those in D.C. say otherwise, we need to tell them: “Yes, we can!”
While the Dollar continues to be weak we should strike while the Iron is hot:
Energy: Since a weak dollar increases the price of energy imports we should take the opportunity to drill domestically. The cost of domestic materials do not change based on an exchange rate.
Manufacturing: A weaker US dollar means that US Steel is cheaper as the raw materials for it’s manufacture are available domestically. In addition with states in dire economic straits there have incentive to make deals with holders of foreign capital looking to produce here.
Labor: High unemployment means a larger than normal skilled work force is available and can be had for a lower price than normal. Also those wages are being paid in a depressed currency.
Rents: Housing and rental prices have plummeted, foreign capital can acquire locations for a song, and may even be able to lock in favorable rates for a long term commitment.
Exports All the basic exports from America are now cheaper. American Agribusiness is still very productive and American food products are some of the safest in the world. A smart operator would make long terms deals now while the prices are low and the producers need the business.
Tourism: The US is a big country and provided you steer clear of the gangs of Chicago and the boarder area where the Mexican drug wars are overflowing it is still the safest place to see. The Natural beauty isn’t affected by the dollar’s weakness, Hollywood and Disneyland are still there and if one is into history from Lexington to Little Big Horn and all the Civil war battlefields in between you can find plenty. Almost every foreign community in the world has it’s mirror in the US. (Fitchburg for example has a Finish consulate) so people can find both the familiar and the unfamiliar.
And lets not forget that America is still the most stable country in the world, where hundreds of thousands can protest the government without dirtying the grass.
If we can’t change the circumstances of the dollar a smart administration can that the lemons we have and make lemonade.
The 9/11 attacks were planned in Afghanistan, and if we are not successful there, al Qaeda will once again find a safe haven, the Taliban will impose its cruelty on the Afghan people, and Pakistan will be less stable.
Our allies and our adversaries are watching to see if we have the staying power to protect our interests in Afghanistan. I recently joined a group of Americans in urging President Obama to devote the resources necessary in Afghanistan and pledged to support him if he made the right decision. Now is not the time for cold feet, second thoughts, or indecision — it is the time to act as commander-in-chief and approve the troops so clearly needed in Afghanistan.
This is a question of saying bluntly what needs to be said, but she said it on FACEBOOK so of course on Morning Joe they are snarking over it. After all don’t we all know that only a Wuss would be afraid of Al Qaeda.
The British newspaper The Independent reported today that Gulf oil producers were negotiating with Russia, China, Japan and France to replace the dollar in pricing oil with a basket of currencies. According to the Wall Street Journal, Arab oil officials have denied the story, but even the possibility of such a talk weakens the dollar and renews fears about its continued viability as an international reserve currency. In fact, today a United Nations official called for a new global reserve currency to replace the dollar and end our “privilege” to run up huge deficits. We can see the effect of this in the price of gold, which hit a record high today in response to fears about the weakened dollar.
All of this is a result of our out-of-control debt. This is why we need to rein in spending, and this is also why we need energy independence. A weakened dollar means higher commodity prices. This will make it more difficult to pay our bills – including the bill to import oil.
These are basic truths she bottom lines it:
Though the chant of “Drill, baby, drill” was much derided, it expressed the need to confront this issue head-on before it reaches a crisis point.
This is all about saying out-loud what people don’t want to say and the media want to ignore.
Update: Some in Headline comments disagree but I think the wisdom of the facebook strategy is self evident, no media filter and instant access by millions of subscribers who will see what she actually says before the MSM can play with it.
Peg (whom I still owe a favor to, I’d better make sure I disclose it to the FTC since I can’t afford the fine these days) talks a bit about this piece on inequality:
Since Ronald Reagan was elected nearly 30 years ago, Democratic politicians have promised that their program could reverse the steady post-1970s growth of income inequality without sacrificing America’s economic dynamism.
But having promised win-win, they may deliver lose-lose.
I think it is ironic that the logical end result of all of this tinkering is what a cultural hero of our leftist friends once sang against:
Dash is denied the opportunity to play sports because his power of super-speed means that he might excel. When he fights with his mother, pointing out that he is special, she insists that “everyone is special.” Dejectedly, he looks down and mumbles, “then no one is.” Similarly, Mr. Incredible gets in a fight with his wife, trying to intercede on his son’s behalf, and bemoans the fact that the school stages a fourth-grade “graduation.” This, he insists, represents the constant modern-day effort to find new ways of rewarding mediocrity.
“The basic principle of the new education is to be that dunces and idlers must not be made to feel inferior to intelligent and industrious pupils. That would be “undemocratic.” These differences between pupils – for they are obviously and nakedly individual differences – must be disguised. This can be done at various levels. At universities, examinations must be framed so that nearly all the students get good marks. Entrance examinations must be framed so that all, or nearly all, citizens can go to universities, whether they have any power (or wish) to profit by higher education or not. At schools, the children who are too stupid or lazy to learn languages and mathematics and elementary science can be set to doing things that children used to do in their spare time. Let, them, for example, make mud pies and call it modelling. But all the time there must be no faintest hint that they are inferior to the children who are at work. Whatever nonsense they are engaged in must have – I believe the English already use the phrase – “parity of esteem.” An even more drastic scheme is not possible. Children who are fit to proceed to a higher class may be artificially kept back, because the others would get a trauma — Beelzebub, what a useful word! – by being left behind. The bright pupil thus remains democratically fettered to his own age group throughout his school career, and a boy who would be capable of tackling Aeschylus or Dante sits listening to his coeval’s attempts to spell out A CAT SAT ON A MAT.
In a word, we may reasonably hope for the virtual abolition of education when I’m as good as you has fully had its way. All incentives to learn and all penalties for not learning will be prevented; who are they to overtop their fellows? And anyway the teachers – or should I say, nurses? – will be far too busy reassuring the dunces and patting them on the back to waste any time on real teaching. We shall no longer have to plan and toil to spread imperturbable conceit and incurable ignorance among men. The little vermin themselves will do it for us.”
Thus I am even more pleased that in her post she rebels against this abominable standard that would have kept us in the dark ages in the best way possible, by excelling!
With my favorite partner, Bill Kent, we won a four session event to get a subsidized trip to Reno next March, along with the right to compete in the North American Pairs event there. We won by an incredible margin of 7 boards (probably akin to winning a football game 63-3) and won each of the sessions with excellent games each time. Our percentage average was over 61%; generally, 55% or 56% will win the event. Am I bragging? You bet!
I don’t play enough Bridge and would love to have the chance to learn to play better from a master. Maybe if our liberal friends address bridge inequality I’d have a chance.
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