Oil makes our world work. Oil is in every aspect of manufacturing, agriculture, mining, transportation, power generation, construction . . . you name it. Oil is the lifeblood of industry.
No matter your ideological stance on the oil industry, the fact remains that we all need it in larger and larger amounts and the oil industry will supply it for as long as it is available. We will not wean ourselves completely off petroleum anytime in the next few centuries – but we can start.
To face the problem of our addiction to, increasing need of, and the “non-renewable” nature of this resource we have to address it in a multi-prong attack. To limit ourselves to focusing on only a few options is asinine, illogical, and self-defeating. A narrow view will only ensure the continued and increasing need for oil – and the corresponding increase in costs to the consumer.
Let me state that I am NOT a petroleum market/industry expert in any way and I don’t have lots of stock in any petroleum/power industry companies. I’m posting this as a consumer who has spent a substantial amount of time reading what I can on this subject, who is sick of watching costs rise, and mad at our Congress who makes things worse.
I do not know the whole answer but do know how we should be working toward that answer:
1) Do not penalize oil industry companies because they are making a profit. This knee-jerk, liberal, feel-good idea is moronic. What other companies do we create new taxes for if they make a 10-12% profit? From 2007 and 2008 financial statements we find that Walmart had a 28% profit margin, Google had around 25%, Planned Parenthood had 11.3%, and Texaco had around 11%. Yep, that’s right . . . a “not-for-profit” organization that kills unborn babies for money had a larger profit margin (revenue after expenses) than the “evil” oil giant.
2) Provide tax incentives for companies researching promising new energy sources. It costs lots of upfront money to do this research and our government needs to encourage this by offsetting at least some of the cost.
3) Congress must stop trying to kill our economy through asinine, power-grab bills. The Climate Security Act (in the Senate NOW) would give Congress more power and raise the cost of EVERYTHING that uses energy . . . and that means EVERYTHING! Our domestic industries would have additional costs added to their services and products while overseas competition (India, China, etc) will NOT. Incredibly stupid idea. We all need to call our Senators and tell them we’ll kick them out if they support this crap. They don’t live paycheck-to-paycheck like most of us, so a cost increase for just about everything won’t really affect their standard of living.
4) We must allow our oil companies to expand the supply. Enviro-whackos cannot be allowed to block drilling in ANWR any longer. There is a vast supply of petroleum on the northern coast of Alaska that was cannot use because someone in Seattle or San Fran worries about some carribou grazing areas!?!?!
5) Stop the NIMBY (not-in-my-back-yard) attitude. If new power generating system needs to be built in your area, don’t oppose it . . . we need it. So many scream for new wind farms, nuclear power plants, solar arrays but are the first to fight the projects if they come anywhere near them or their precious view of the hills/desert. If you are the NIMBY type, then you should at least be a huge proponent of ANWR drilling!
Petroleum is here to stay but it doesn’t have to be our only power source. Whether our power/fuels come from petroleum, biomass, coal, solar, nuclear, wind, water . . . we must force our government to help make it happen – not restrict it further.