A follow-up to an earlier post: A couple of weeks ago I started a post on our need to drill our own oil, and try to become more energy independent. Some comments suggested that it would cost us more money to get our own oil as opposed to purchasing oil abroad. I disagree with this position on a few grounds. Here is an example of one of my reasons for supporting energy independence for our nation.
Recently Mr. O was in Brazil. He gave a speech or two there to various groups. In one of the speeches he spoke about the need for our nation to find , in his words, Safer sources of oil from friendlier countries. With that in mind he said that we would loan Petrobras ( the partially state-run oil company in Brazil ) several billion dollars ( which we don’t have and will have to borrow ) to them to aid them in developing deep water drilling off their coast. In this way, he claims, WE will save money by purchasing Brazil’s oil as opposed to a less friendly supplier.
This goes right to the heart of what I was talking about in my last post. I’m no economist by any stretch of the imagination. One thing I am very knowledgeable about, however, is math. And let me tell ya, the way I see this, we’re already out several billion dollars before we get to buy one barrel of oil from these new foreign wells. Several billion dollars we don’t have , I might add, again. Meanwhile, Obama and his administration are doing their level best to stop almost all drilling here in our own country. So, unless the Brazilians are just going to give us several billion dollars of oil for free, I’m not seeing how any of this saves us money as Obama claims it will.
What we should be doing is , since we’re going to borrow the money regardless. We should spend that money improving our own oil wells. Sink the money into improving the technology to make it even safer than it already is. Not that facts matter, but the BP spill was the first major oil related accident since the Exxon Valdez. That’s a pretty sharp safety record already. The point is, that sending MORE of our money overseas to buy our energy needs is NOT, I repeat NOT a cost saving endeavor. I mean, we could be even smarter and not borrow the money in the first place and let the oil companies spend their own money for research. That would save us billions of dollars right off the bat, not to mention the savings of not having to pay the interest on those loans.
Drill here, drill now, drill yesterday. Keep us energy independent of EVERYONE. Keep more of our money here and not filling the coffers of tin pot dictators the world over. Last I heard, good ole Momo over in Libya is sitting on 10s of billions of dollars. Where do you think he got all that money that he’s now using to pay mercenaries to kill his own people? Wouldn’t it have been better in the long run to have drilled our own oil instead of helping to finance this nutjob? Think about it, there’s more to the cost of a barrel of oil than JUST the sticker price.