Forward Thinking

I recently talked about the state of the world oil economy. Venezuela, with all of the oil wealth is providing subsidized gas and petroleum to disadvantaged areas of the world to curry favor. They are sitting on all of that mineral wealth and instead of using the benefit of their geography to improve the overall economic prosperity for their citizens, they are squandering it on trying to make “friends” and twist them to their socialist ideas. We have already proven that socialism is a failed ideology.

A bright spot on the oil monopoly front this week was Saudi Arabia. One of their government officials stated that oil prices could not sustain these high levels for very long. That with gasoline prices floating around $3.00 per gallon, the world (America) will start looking for alternative sources of energy to fuel their economies and when they start down that path, the dependence on their countries for oil with drop from gotta have to ho hum. They will be setting on a treasure trove of a commodity that no one wants because they have moved to a renewable source. Whether it ends up being hydrogen, which is most likely, or some form of electric, we will be powering our vehicles using an energy source that does not consume a non-renewable resource.

While the rest of the world looks at OPEC and the oil rich nations and laments about the high cost of fuel, the oil bloc should be using their soon to be exhausted mineral wealth to improve their economies and create industry and businesses that will continue to make their nations grow and prosper. Instead we get the short sighted new world vision of making our gains today at the expense of tomorrow. I wish I could say that America had any better vision but unfortunately, we have created a nation of instant gratification seekers instead of long range planners. Oh hold on, I’m getting a text message. (Just kidding, I do not use that service. It cost money!)

Icool

Cobb