A great problem to have!

 

 

"Despite the President's best efforts to keep this from happening, America has become an energy giant!"

Watching a bit of business news last night, the pundits were speculating on why the market fell 100 points yesterday. Ironically, one reason was energy stocks. Why? Thanks to Canada and North Dakota, the worldwide supply or crude oil keeps going up. Even though the thirst for oil is high and growing in developing countries, supply continues to meet the demand.

Our new found supply of oil is good for so many reasons. First off, many energy experts believe the depression of crude oil prices will continue throughout 2015, and maybe beyond. Translation - $2.50/gallon gasoline could be common next year. The side benefits are even more tasty. It seems the world's troublemakers have financed their shenanigans by using high oil revenues. With the depression in crude oil prices, it has put them in a financial pinch. Shame. Yes, I am talking about Russia, Iran, ISIL (who steals oil and then sells it), and Venezuela.

The only downside to this glut people holding energy stocks. They might not be doing as well in the near future. Also, this growing oil supply might also end up being a limiting factor to long term low prices. Should the price tumble low enough, oil companies in North Dakota might cut back or curtail production. Low prices might not make high production financially feasible.

In the meantime, the Golden Fleece still hangs somewhere on a tree. The Golden Fleece of course is the technology to produce unlimited, clean, affordable energy.  Whichever country can come up that technology first, will probably control the financial future of the world.

In the meantime, a true comprehensive energy policy would have included "all of the above". Besides exploiting our petro resources, we would reopen Yucca Mountain and then authorize the construction of more nuclear reactors. We would refine the technology to allow more vehicles to run efficiently and cheaply on natural gas. We could finish fuel cell technology to make it a viable and affordable source of energy to years to come. Finally, accelerate passive solar collector technology which would allow families to capture a portion of the energy needed to power and heat their houses.

So there it is. It is all good. The extra money we are saving on gas has gone right back into the market to buy Christmas presents and other sundry items. Today when my wife and I are running around doing errands, I will pull into a gas station and proudly say, "Fill her up!" And I can say that without the worry of putting a big hole in my wallet.