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Thursday, April 06, 2006

Oil Cusp

I signed up for a trial version of Google's Page Creator software, and have started to put spillover analysis on my home page, OIL CUSP. I placed a permanent link on the sidebar.

For the typical frustrating eye-rolling read, Tech Central Station never fails to deliver. Max Schulz from Manhattan Institute rosily recalls how the USA and allies historically benefited from a thriving oil economy to beat back the evil axis time and time again. He gives pretty convincing examples of oil playing a big part during WWI, WWII, and the Cold War. But then he assumes this will continue indefinitely ... for no other other reason that, apparently, it must.
What is clear is that in the event of a "hot" war, primacy of oil supplies is critical. For all the fear about rising American oil imports, we still have little to worry us in 21st century America. Though we import 60 percent of the oil our economy uses -- and that figure is expected to rise to nearly 70 percent in the next
several decades -- the United States still produces more than 8 million barrels of oil domestically per day. Keep in mind the Department of Energy manages a Strategic Petroleum Reserve holding nearly 700 million barrels, and our country should have enough in the unlikely event a large-scale hot war erupts. Our country holds a great deal of security in the oil we produce at home.


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