Accelerating long-term dependence on Arab Oil
I can't remember when and where I saw it - a couple of years ago in The Economist, I think. Anyhow, it was a graphic that showed proven reserves in each country. Saudi Arabia has so much more than even the second place country that it's not even close. 6:1, I think. Anyhow, the point was made that anyone who decides to cut himself off from Saudi Arabia is simply going to speed up the day when his own reserves are gone, and Saudi Arabia will be all the more dominant.
The Pump ANWR fervor will only lead to faster depletion of the stocks within our own territory, at the expense of what is supposed to be untouched country. Yeah, it's probably pretty desolate up there. Yeah, there's probably less than a gross of people who have ever visited. But what's the point? We're better off in the long run letting oil prices rise so that people will shift their spending habits.
And after looking at the Energy Bills spewing forth from both parties a while back, I suspect there's no small amount of pork in the offing.
The Pump ANWR fervor will only lead to faster depletion of the stocks within our own territory, at the expense of what is supposed to be untouched country. Yeah, it's probably pretty desolate up there. Yeah, there's probably less than a gross of people who have ever visited. But what's the point? We're better off in the long run letting oil prices rise so that people will shift their spending habits.
And after looking at the Energy Bills spewing forth from both parties a while back, I suspect there's no small amount of pork in the offing.
Labels: energy




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