Archive: Opinions

A few years ago, when oil reached $150.00 a barrel, some were calling for an all out, no holds barred approach to drilling. From the Artic Wildlife Preserve in Alaska to off-shore oil platforms in the Gulf of Mexico, supporters of drilling began to chant, "Drill, Baby, Drill." A sense of urgency filled the air as Americans debated the question and weighed the risks of such an approach.

Some offered a more cautious approach and proposed a radical change in the way we think about our country's energy requirements. Before the debate could reach a crescendo of name calling and accusations, the BP Drilling Disaster, off the coast of Louisiana, put a hold on all drilling as this nation examined its need for oil and the risk it was willing to take.

Turmoil in the Middle East has reignited the drilling debate. With governments like Egypt and Tunisia toppling and others-Libya, Yemen, and Bahrain- engaged in armed conflict, oil prices have approached the $100.00 a barrel mark sending shockwaves across the global economy. Uncertainty in the Middle East along with possible disruptions in oil production could send oil as high as $150.00 a barrel. Some energy consultants are predicting gasoline prices rising to $5.00 a gallon by summer.

The United States consumes approximately 20 million barrels of oil each day. With the price of oil at $100.00 a barrel, our nation spends $2.0 billion a day on oil. That is 2,000,000,000 dollars a day multiplied by 365 days in a year. The total reaches an unbelievable $7.3 trillion dollars or $7,300,000,000,000.

China, which now boasts the second largest economy, is second in usage at 7.7 million barrels a day, but that number will increase dramatically as their economy grows and demand increases to meet the needs of its nearly 2 billion people. Overall world consumption is approaching 90 million barrels a day.

So what are the options for a nation held hostage to fossil fuel addition? Oil, natural gas, and coal are limited resources. These fuel sources will run out. Exploration is costly, dangerous, and could have tragic environmental and health costs. Whether one talks about offshore drilling or opening the Artic Wildlife Refuge for oil, mountain top removal for mining coal, or hydraulic fracking for natural gas, the need to purchase foreign oil will continue to increase at a cost that will be unsustainable for our economy.

One option that our political leaders ought to consider is a full fledge war against fossil fuels. Rather than spend $2.0 billion a day on imported oil, the government would set aside a certain amount to pay for homes and businesses to be refitted for renewable energy. Geothermal energy combined with solar panels and wind turbines would replace conventional heating and cooling systems that rely on oil, natural gas, propane, and coal.

The initial investment would be a fraction of what we paid to bail out the banking and lending industries. The return in savings would begin immediately as homes and businesses switch to renewable energy with the simple flip of a switch. Rather than spending large amounts of money to heat or cool our homes and businesses, that money would be "freed up." This money would be reinvested by individuals to purchase goods and services, or in the case of businesses, to invest in research and development. During peak hours of sun and wind, each system could "sell" back extra energy to the grid increasing wealth and supplying additional energy.

It is a win-win situation for everyone and for the country. Homeowners, business owners, schools, universities, hospitals, nursing homes, churches, governments, and communities around the country would have a reliable source of energy to heat and cool their buildings.

Our manufacturing base would be transformed into hundreds of factories hiring thousands of workers to build these geothermal, solar, and wind energy systems. Thousands more would be hired to install and maintain these systems creating an entire new line of skilled workers. All of this can be accomplished with a fraction of what we pay for our energy needs today.

President Obama spoke about a "Sputnik" moment, referring to time back in the 1950's when the nation rallied behind a cause that not only saved our country, but propelled us into the future. Now is our Sputnik moment. Now is the time to seize the opportunity and transform our way of life from one enslaved to the whims of the Petroleum Industry, market speculators and OPEC, to a healthy nation, fueled by renewable energy.

This is not some pipe dream. This is our reality. We need to encourage our leaders to implement legislation that will take us from a 19th century outlook based on outdated sources of energy to a 21st century investment that will guarantee a future where everyone can enjoy the undisturbed natural beauty of our mountains and beaches, are able to breath the air and drink the water without fear of contamination, and live in a thriving economy. And that is to the point.

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