How Did Our Oil Get Under Their Sand?

0

Note:   The writer of this essay, Dylan Ratigan plays hard ball.  But he does not lose his dignity.   Peace, Roy

Article by Dylan Ratigan from Reader Supported News posted on October 24, 2011.

It’s somewhat rare to hear a Senator tell the truth about American foreign policy, but we did get a glimpse of reality last week when Senator Lindsey Graham lustily talked about the death of Gadhafi. He said, “There’s a lot of money to be made in the future in Libya. There’s a lot of oil to be produced. Let’s get on the ground and help the Libya people establish a democracy and a functioning economy based on free market principles.”

A rebel militiaman guards a Libyan oil refinery in rebel-held territory, 02/27/11. (photo: John Moore/Getty Images)Though rare, this is not the first time a high profile American politician has accidentally told the truth about our foreign policy. In March, 2003, Secretary of Defense Donald Rumsfeld told a Senate appropriations committee that the war with Iraq would be paid for by Iraqi “frozen assets” and “oil revenues.” This was not completely crazy – the first Gulf War had largely been financed by foreign countries who saw value in the oil supply lines we were protecting.

At the same time last week, the American solar industry filed a trade complaint against Chinese solar makers, who produce 55% of the world’s solar panels. They allege that China is selling its solar panels below cost, which would be consistent with the Chinese industrial policy of preparing for a post-oil world. According to Stephen Leeb’s new book “Red Alert,” China spends over $350 billion a year on renewable energy infrastructure, locking up critical supplies of zinc, silver, gold, copper, and rare earth minerals. Meanwhile, America spends its money keeping sea lanes open for dwindling oil supplies.

The Chinese are improving their skill at making solar panels, whereas American policymakers are explicitly avoiding building a post-oil energy infrastructure. Chinese elites want to secure oil and coal, of course, but they are also rapidly preparing for the day when these resources cannot be profitably extracted and used. American elites are engaged in a more short-sighted strategy of destroying any possible bridge to a post-oil energy future to protect their status quo profits. Leeb believes that this is a choice that could mark the end, not just of American dominance, but of American civilization.

To continue reading this article click here.

 

Be Sociable, Share!

Leave a Comment

Fields marked by an asterisk (*) are required.


− eight = 1