Oil Solution and a Curious Problem
Eric Bolling, host on Fox Business Network and contributor to TheStreet.com, lays out a logical and completely reachable solution to our current "oil crisis". I put that in quotes because, as Bolling points out, this is not a matter of the world running out of oil. In fact, there are billion of barrels there for the taking. And as he says, "Certain people in Congress would have us believe that those barrels are 10-plus years away from our refiners' cracking towers. That's just not true".
Drilling the Outer Continental Shelf, protected areas of the US, and adding nuclear power are all outlined. However, there is an aspect that he touched on toward the end of his piece that really grabbed me.
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After many discussions with these drillers, I am convinced that there is great reason to believe that Cuba has not only discussed the possibility of allowing China and Venezuela to drill on her sovereign leases, but has already begun seismic studies. This may seem innocuous, but it is not. You may say, "so what ... let Cuba ruin its coastline ... we are going to protect ours." There is a very important fact that no one has addressed. They all agree that these oil finds are immense. The scary scenario plays out like this: Cuba, China and Venezuela develop some of these oil fields. They sit on Cuban land, which is adjacent to U.S land. The majority of the oil may actually sit underneath our land. If they get a jump on us and develop those fields, they may be pulling oil right out from under our feet. |
If this is even a possibility, we have too take action to make sure this never happens. To ignore our own fields may be naive on our part, but to allow other countries to steal oil from our own fields under Unites States land would be criminal.