Daily Editorial: Funding zillionaires
Vail CO, Colorado
A recent report in the Los Angeles Times investigated how soaring oil prices affected people around the world.
There weren’t any real surprises. Those who depend on petroleum to scrape out a living are hurting, and those who profit from oil are having a hard time figuring out how to spend all their newfound money.
Among the big and small baubles are jumbo jets for Saudi princes and solid-gold baby bottles for Russion oil lords. Beyond the wretched excess, though, a lot of petro-cash is being funneled to the governments of nations that have no goodwill for the civilized world.
Iran, of course, is pouring cash to various terrorists and jihadis, while Venezualan dictator Hugo Chavez is using his oil money to foment unrest throughout Latin America.
The way to stop this is obvious: stop buying oil from these thugs.
An easy first step is to stop buying Citgo gas, since the company is a wholly-owned arm of the Venezualan government. Conservation is always a good thing, too.
But the uncomfortable fact is that no source of energy in use right now packs as much punch or costs less than dirty old oil. That means in the short term, the United States needs to bolster domestic supplies as a way to cut down on the money we’re sending to the bad guys in the war on Islamic terrorism. That means we need to swallow hard and drill for the stuff at home, perhaps even in places like the Gulf of Mexico and the Arctic National Wildlife Refuge.
But it’s also true that oil is a finite resource, and the world is going to need alternatives to fuel a growing world economy.
We’ll never see it from our poisoned-by-partisanship Congress, but it would be nice to see authorization to drill more oil balanced by a small tax on new domestic oil production that’s dedicated entirely to alternative energy research and development.
That way, we could get more of what we need in the short term, while still planning for the future, as well as taking at least a few dollars out of the bank accounts of those who wish us harm. In the meantime, we can’t all buy more fuel-efficient cars and trucks, but try to save a few gallons when you can.
” Scott N. Miller for the Editorial Board