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    Saudi Oil Attacks Put Leftist Energy Stupidity In Stark Clarity

    September 15, 2019
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    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?



    L Todd Wood

    L Todd Wood, a graduate of the U.S. Air Force Academy, flew special operations helicopters supporting SEAL Team 6, Delta Force and others. After leaving the military, he pursued his other passion, finance, spending 18 years on Wall Street trading emerging market debt, and later, writing. The first of his many thrillers is "Currency." Todd has been a national security columnist for The Washington Times and contributed to One American News, Fox Business, Newsmax TV, Moscow Times, Novaya Vremya (Ukraine), the New York Post, National Review, the Jerusalem Post, Zero Hedge and others. He is also founder/publisher of CDM. For more information about L. Todd Wood, visit LToddWood.com.
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