Middle Eastern counties who sell us oil, including Saudi Arabia, have never been our “friends.” To pretend otherwise is dangerously stupid. We have depended on them for their oil, plain and simple. Oil equals energy and energy equals freedom and prosperity for the U.S. In the 1970s OPEC, the Organization of the Petroleum Exporting Countries, flexed its economic muscles against our country and brought us to our knees with an oil embargo that caused shortages and prices to skyrocket. MDN editor Jim Willis recalls growing up in the 1970s when gas was rationed and you could only buy gas every few days (odd and even days) based on your license plate number. A scary time in our country. Thing is, our enemies haven’t changed–they are still there. They’re just a whole lot richer than they were back then, richer with our money in their pockets. The shale revolution changed all that. We are close to being 100% energy independent–without the need to import oil. Oh, we’ll have to keep importing for the foreseeable future. We don’t have enough refineries here to process the type of oil we produce (light sweet crude). But in a pinch, we’d figure out a way. OPEC and Saudi Arabia have badly misjudged America. They thought they could flood the market with cheap oil and bankrupt America’s shale drillers. Didn’t happen. In fact, we got better. We figured out how to drill for less money. Little known fact: Bakken drillers can now make money with oil selling as low as $29 per barrel! In other words, it’s now time to put the last nail in OPEC’s coffin and kiss them goodbye. We sincerely hope finally defeating OPEC will be a top priority in the new Trump Administration…
Middle Eastern counties who sell us oil, including Saudi Arabia, have never been our “friends.” To pretend otherwise is dangerously stupid. We have depended on them for their oil, plain and simple. Oil equals energy and energy equals freedom and prosperity for the U.S. In the 1970s OPEC, the Organization of the Petroleum Exporting Countries, flexed its economic muscles against our country and brought us to our knees with an oil embargo that caused shortages and prices to skyrocket. MDN editor Jim Willis recalls growing up in the 1970s when gas was rationed and you could only buy gas every few days (odd and even days) based on your license plate number. A scary time in our country. Thing is, our enemies haven’t changed–they are still there. They’re just a whole lot richer than they were back then, richer with our money in their pockets. The shale revolution changed all that. We are close to being 100% energy independent–without the need to import oil. Oh, we’ll have to keep importing for the foreseeable future. We don’t have enough refineries here to process the type of oil we produce (light sweet crude). But in a pinch, we’d figure out a way. OPEC and Saudi Arabia have badly misjudged America. They thought they could flood the market with cheap oil and bankrupt America’s shale drillers. Didn’t happen. In fact, we got better. We figured out how to drill for less money. Little known fact: Bakken drillers can now make money with oil selling as low as $29 per barrel! In other words, it’s now time to put the last nail in OPEC’s coffin and kiss them goodbye. We sincerely hope finally defeating OPEC will be a top priority in the new Trump Administration…