Energy and Idiocy

By William L. Garvin

If you had a fortune in your bank account, would you go out and borrow money from a malevolent loan shark? Of course not. Such financial strategy would be idiotic but that in essence is our energy policy in the United States. Can you name another country that is so rich in natural resources yet willfully refuses to use them for their own self interest? Of course you can’t. As a result, the United States is economically and strategically vulnerable to hostile international forces and powers.

When the national average price of gasoline reached $3.36 in February of this year, it was the highest average ever for that month of year. It has gone up another $.50 in the last two weeks and is currently hovering around $4.00 per gallon. The Administration is even considering releasing oil from the Strategic Oil Reserves despite the fact that there is no oil supply shortage, there has yet to be a disruption in the supply line, and that is not the reason for the Reserve! Why?

United States’ energy needs have increased seventeen-fold over the last fifty years but domestic energy production has decreased by forty percent over that same period. In February, 2009, oil was $33 per barrel. (Don’t forget to blame that on George Bush!) It is now $105 per barrel. Who should we blame that on? In 2008, when oil and gasoline prices also spiked, the incessant media drumbeat was the Bush-Cheney-Halliburton connection. According to the Business and Media Institute, the president and oil were connected fifteen times as much by the media then as they are today. When will media begin to examine and question today’s insane energy policies?

While this President may think that oil is the energy of the past, solar, wind, and other alternative energy sources can only provide 7% of today’s energy needs. Alternative energy is unreliable, expensive, and can only survive with massive government subsidies. The President poured billions of dollars into Government Motors, gave them massive tax breaks and competitive advantages, provided them with billions more in virtually interest free loans, and made their creditors bow out for pennies on the dollar. Who couldn’t turn a profit with that sort of government subsidy and corporate welfare?

What do we get in return? The Volt…a $40,000 plus ugly car that according to Consumer Reports is “not particularly efficient” and fuel economy “that is not as good as a gas vehicle.” Even the heating system fails to keep the occupants’ hands and feet warm! Maybe that’s why they sold a whopping 281 vehicles in all of February even with a $7,500 federal tax credit. The public knows a lemon when they see it. In addition, there is the problem of “recharging.” Guess who makes all the recharging stations? Why it’s General Electric…and who is the CEO of General Electric? Why it’s Jeffrey Immelt, who is also the President’s chief economic advisor. Isn’t it time to admit that the Republicans don’t have anything close to a monopoly on “corporate cronyism”?

If Libya stops producing its 1.4 billion barrels of oil per day, we could replace that by drilling in ANWR which could easily produce a million barrels each day. We could also use the trans-Alaska pipeline at full volume since it is currently operating at only one-third capacity. Or we could actually approve the permits to drill in the National Petroleum Reserve…or we could approve the pending permits for Gulf drilling and put those 8,000+ oil workers back on the job who have suffered from the illegal moratorium. China, Mexico, and Cuba are all currently drilling there and none of them show the environmental sensitivity of the United States.

We could utilize our vast reserves of shale oil, coal, uranium, and natural gas. We could build new refineries and nuclear plants. But we won’t. The current Administration has the most fanatical, pro-green dream ideology of record while at the same time showing the most anti-oil, anti-gas, anti-coal, anti-nuclear position in American history. Current energy policy force feeds the former and destroys the latter. The OPEC loan sharks are laughing all the way to their banks with our money.