We keep hearing over and over how much we have to drill drill drill so that we can get the price of oil under control.. I've long since been of the belief that the supply and the price has been relatively unchanged during the last 7 years ... but before you think I need to be bopped over the head with a 2 x 4 or something -- let's postulate that the value of the dollar has been the leading cause for the high cost of energy..
So this afternoon when I came across this article that actually talks about the reality that a sinking dollar is largely to blame for our current energy prices..
To put it even more succinctly: no matter how much we drill and find tomorrow -- the cost for oil is going to be the same because the market decides how much oil is going to sell for.. Until the value of the dollar improves -- we can drill in every nook-and-cranny and squeeze every droplet of oil from the ground -- it's not going to make one iota's bit of difference if our dollar value continues to tank..
The "drill drill drill" mindset is nothing more than one giant red herring set out by those who have a concealed interested in the profitability of drilling in ANWR or on the outer continental shelf.. At its absolutely optimistic *PEAK* we may get as much as one fifth of our daily consumption.. With little or no change in the value of the dollar -- the only ones that clearly benefit from this are the ones setting record breaking profits at the moment..
We need to make a considerable investment in the exploration of hydrogen energy, we need to build more nuclear energy plants and take control of the sun, the wind and the water as much as we can.. We can't base our "energy strategy" to be loosely conceived by a couple of guys running to Vegas and hope they break the bank..
It has to be more solid and realistic..
It needs to happen soon..
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