Originally Posted by
Falcon7
I agree. Energy independence and development is a national strategic imperative. Much like the interstate highway system. I'd be willing to pay a little more at the pump to fund it.
However, if the citizens are funding this during the lean times, I don't expect these corporations to gouge us if prices once again rise.
We don't need prices to rise which is why OPEC always controlled output. We just need our domestic companies that have literally revolutionized the industry in the last decade to stay solvent. If we can keep them running and turn U.S. into the swing producer of the world, then we win the battle.
Saudi Arabia has a 750 Billion dollar bank account. They can produce oil at under $10 bbl but their budget is based on $85 or something like that. With the current prices they run about a $50 Billion defecit per year. In under 10 years Emirates, Ethiad, and Quatar will have no more state funded money if the U.S. can keep producing oil and keep the prices under $50 bbl.