Cartoon Of the Week
President Donald Trump is driving and America is speeding to a red light with regard to its energy policies.
As I have outlined here, in the Oily Stuff Dumb As a Box of Rocks Award for 2018 and again here, our nation does NOT have the oil resources left to be trying to "dominate" the world with "cheap" oil exports. That is bad policy based entirely on the false premise of abundant shale oil reserves in America that have NEVER been profitable to produce, not in the ten years of the shale oil phenomena's existence. The US light tight oil industry is deeply in debt and in essence, can't even pay for the wells it drilled years ago. Calling on it to now provide oil to help stimulate other country's economies will cost trillions of dollars that the American shale oil industry does not have, nor can generate from the sale of oil unless prices rise to $90 a barrel and remain there.
"NOPEC" legislation currently be debated in Congress is also based on the false premise of abundant, "profitable" US shale oil reserves. It is equally bad policy.
Our entire hydrocarbon future in America is now being managed by executive branches aptly known as the Three Stooges. Our children deserve better.
Conservation is not a four letter word.