Saturday, December 10, 2011
Victor Davis Hanson, writing at TownHall, is painting a rosy scenario for the USA which is based on it's own energy resources. It would be great if the Republicans,when they get rid of Obama, follow his dream of independence from arab oil to get America back to the mighty nation we expect it to be.... for the world's sake and it's own.
....America will soon again be able to supply all of its own domestic natural gas needs -- and perhaps for the next 90 years at present rates of consumption. We have recently become a net exporter of refined gas and diesel fuel, and already have cut imported oil from OPEC countries by 1 million barrels per day.
With expanded exploration and conservation, the United States could also eventually supply half its own petroleum needs. If we were to eliminate just 5 million barrels of our current daily 9 million barrels of imported petroleum, the annual savings could reach nearly $200 billion per year. Eventually, the new gas and oil could add another 1.6 million new jobs and add up to nearly $1 trillion in federal revenue.
That windfall would cut out about a third of our present annual trade deficit -- well apart from additional income earned by new natural gas exportation. "Investments," "shovel-ready jobs" and "stimulus" would finally become more than empty sloganeering.
But America's new oil discoveries are not occurring in a vacuum. The entire Western Hemisphere is enjoying a fossil fuel boom, from northern Canada to Brazil and Argentina. America's backyard will soon be comparable to the oil-rich Persian Gulf, keeping more American money -- and troops -- at home. Illegal immigration should taper off as well, as oil-rich Latin American economies reap huge cash bonanzas. Hugo Chavez's Venezuela will soon be simply one of many regional exporters.
Current crises in American foreign policy -- Iran's efforts to obtain the bomb, the protection of an embattled Israel, stopping the funding of radical Islamists -- might be freed from the worries of perennial OPEC threats of cutoffs and price spikes.......
On illegal immigration issues in California