The recent drone attacks against oil installations in Saudi Arabia, that could take up to five percent of global crude production offline, put the stupidity of the Left’s, and the Democratic Party’s, energy policy in stark relief.
The simple fact is alternative fuels are no where near economically viable, and won’t be for decades, if ever. That hasn’t stopped the ‘progressives’ from attempting to destroy American hydrocarbon production for some dream of ‘green energy’, like windmills that kill bald eagles. The Obama administration pushed this policy on steroids. Europe has taken the bait as well. Germany has reduced its domestic nuclear energy capacity so much it now has to rely on Russian natural gas to get through the winter.
With the Yemeni rebels attack on the Saudi refineries, we have a cataclysmic event in global energy supply that will produce shockwaves for years to come. In the long run, much more will have to be spent on securing the world’s energy stockpiles. In the short run, we will most likely have to suffer much higher fuel prices, how high is anyone’s guess at this point. The markets will make that clear tonight and tomorrow.
All I can say is thank God President Donald Trump had the common sense and foresight to reboot America’s energy production, making the United States the world leader in oil exports. This will allow the U.S. to ramp production to meet global demand, keeping prices lower than they otherwise would have been.
Over time, America needs to retool its refining capacity to be more compatible with the type of crude we produce, versus the Saudi and Venezuela oil we are geared for now. This will make America even more energy independent.
We won’t need to fight wars around the world to maintain our access to crude supplies.
If Hillary Clinton was president, God forbid, America would still be a slave to oil shipments emanating from the Middle East. Who knows what type of shock this attack would have produced in our economy.
I’m not tired of winning yet, are you?
- Saudi Oil Production Under Attack, Expect Reprisals
- Oil To Hit $100? Pompeo Blames Iran For “Unprecedented” Drone Attack That Crippled Largest Saudi Oil Processing Facility