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It was in the beginning of the 20th century when we did not cringe in disgust at the $4 Exxon sign, when we did not shed blood on behalf of the black gold. Americans drove freely from home to work without relying on Saudi Arabian or Canadian oil to fuel their trip. A purely home-drilled and home-refined journey. The American Dream of freedom and independence.
Yet we have begun to see the bottom of our chest of black gold, no longer able depend on a steady domestic oil supply to fuel American society, no longer able to appease the fancies of our foreign oil providers. It is time to regain solidarity in our energy system by realizing a new dream: a definitive shift to alternative energy sources.
But adherents of the "drill baby drill" camp refuse to acknowledge that the old dream is over, convinced that we must keep snoozing to the reassuring lullaby of American drills, the soothing flow of American oil, the comforting tradition of Manifest Destiny in the Pacific reserves. In midst of 11 revolutions in the oil-rich Middle East, oil prices have been rising, and the American economy is certainly paying for it. In an age where oil accounts for economic prosperity, political leverage, and national security, by depending on this fuel, we are threatening our sovereignty and global power status.
We are left vulnerable to OPEC's political and economic collusions. Although the United States imports the majority of its oil from Canada and Mexico, OPEC, with its monopoly over 80% of the global oil supply, still manipulates the prices we pay for this global commodity. It is the economics 101 supply and demand curve: OPEC decreases the supply of oil, which increases the price, or it increases the supply of oil, which decreases the price. And it has done both. The oil price hikes in the 1970s devastated the U.S. economy, giving OPEC nations leverage in the Yom Kippur War where the U.S. aided Israel. In the 1990s, when post-Soviet Russia was developing its oil industry, OPEC increased its supply to decrease prices, crowding out Russia's oil from the market. The oil cartel is unrelenting in maintaining a monopoly over the oil market.
Some say we turn on our drills for American oil. OPEC will not stand still. With a simple command to its drill, it will decrease its oil supply and escalate world oil prices. Furthermore, our increased supplies will only hold out in the short term. After all, our nation's current oil supply's life span is dwindling to 10 years, an eight of the Middle East's span. Then we are back to square one, but now stripped of emergency reserves to cushion future unrest in the Middle East. We are left defenseless. Moreover, China and India, with their rising energy needs, will only increase consumption of Middle East oil, having already formed pacts with Saudi Arabia and Iran, further empowering the oil cartel.
We cannot merely change around the barrel's flag; we must replace the barrel. To be masters of the fuel that powers our industries, transportation, and economy, we must increase private and public funding in the alternate energy sector. This means an end to tax incentives for oil companies and an increase in public supports for electric and bio-fuels to stimulate private investment.
While our lady liberty used to be the token of progress, we must now follow Brazil's precedent: a revolutionized transportation sector powered by domestic sugar cane- based ethanol. Brazil has demonstrated that flexible-fuel vehicles, able to run in any proportion of ethanol and gasoline, are on the path to energy independence. When OPEC increases oil prices, Brazilians can decrease the proportion of gasoline in their vehicles. Brazil is no longer subject to OPEC's political whims and economic fancies.
The drill-baby-drillers retort that ending off-shore drilling would pose a national security risk. Yet is it not a greater risk if we deplete our untapped reserves now rather than wait till a serious energy shock in the future? Would we not benefit our economy and lower unemployment if we created long-lasting jobs in the alternate energy sector rather than temporary jobs in the oil industry? According to the Center for American Progress, investing $150 billion in clean energy can produce 1.7 million new, long-term jobs.
We cannot merely oscillate between sleep and awakening based on the number on the oil price tag. It is time to wake up once and for all from our outdated prophesy of "endless" oil supplies in the Pacific. A manifest destiny that resists change, that leads us to sink in a draining pool of oil. We must instead strive for the American Dream to flourish as a sustainable world power, leading the way into a new energy age.
