More Financial Crises and More Bailouts
So the news was full again this morning about more financial woes. Besides the northern auto industry, now Las Vegas is in trouble. No one seems to be attributing any of these problems to the rapid rise in fuel costs or at least they are not discussing it. So, three years ago, when we started to see fuel prices dramatically increase, the housing market also started to slump. Yes, some people took on risky mortgages. It no doubt was a problem. Most of those mortgages were being paid. They didn't immediately go into default. The problem was that as fuel costs increased and the escalating prices of groceries and other important commodities rose, people had to feed their families and their cars to get to work. Other things went by the wayside, such as eating out and other leisure activities. People quit buying cars, especially the larger, less fuel efficient cars and yes, those with the risky mortgages couldn't afford them anymore. There, folks is what began this economic crisis we are currently in. Yes, poor decisions and bad investments were made. Yes, most people have way too much debt and don't follow sound financial strategies and don't plan for that "rainy" day. Yes, we are responsible for that. People living on the edge didn't forsee it coming and they have paid, as we all have.
What about our leaders? They should have known the fuel crisis would come. The cost of a barrel of oil has been out of our hands for a very long time. OPEC has been less and less influenced by our government's pressure for a long time. Drilling has been a subject for decades. As technology has increased, so our knowledge of the vastness of our own reserves has increased. Yet, even as world demand for oil has astronomically increased our Congress tells us to "conserve". Jeff Bingaman, our US Senator from NM, responded to my questions about drilling with, "Another major increase in the wise use of energy will come from a major increase in efficiency standards for lighting, particularly form light bulbs. These new standards will result in major savings for consumers on their monthly electricity bills, once they are fully implemented in 2018. The energy saving impact of these changes roughly doubles the energy efficiency gains from every other Federal energy efficiency standard enacted to date." Light bulbs, REALLY!We have VAST oil reserves. Many oil-producing nations, as is Alaska, are taking their profits and investing them and utilizing only a portion of the investment proceeds annually. Nations like Saudi Arabia and Kuwait and others have huge budget surpluses every year and we're talking BAILOUTS AND LIGHTBULBS!!!
As you talk about the economic crisis we're in, think about what we can do to give our children a future WITHOUT MOUNDS AND MOUNDS OF DEBT. One SIMPLE solution is to quit blathering and get drilling! Drill, Drill, Drill and BUILD MORE REFINERIES! It is about time we solve our own problems and quit being at the mercy of OPEC, which may or may not increase production depending on how they are feeling about us the day we BEG them to increase it. Which by the way, the Saudis and Venezuelans don't really like us too much.
As you are feeling great relief when you fill up your tank, just remember why those prices are dropping... The backs of people that got broken when gas hit over $4.00/gallon. Our economy is failing because our leaders failed to do something years ago to protect us from the whims of OPEC. Our leaders are still failing to deal with the "elephant in the room." We've got the answer to most of our problems in the ground.
I went to this left-wing website and signed their petition "undo the damage". They want to prioritize things for the Obama administration to tackle when he takes office. Overall the choices are very crappy to say the least. However, I clicked on "other" and wrote in: DRILL NOW in ANWR, the Rockies, and offshore. Yes, I did have to agree to get more emails from them in the future. You can easily unsubscribe when you get one. It is important that our voices be heard, especially by the radical left. They are the ones in charge. We just cannot let them blow money on bailouts without doing something to plan for the future and take advantage of our God given natural resources. Write, write, write, to your representatives. The pen is mightier than the sword.
Labels: bailouts, drill baby drill, drill now, Economy, energy

