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U.S. Oil Independence; Not:

By       Message Mike Folkerth     Permalink
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Good Morning Middle America, your King of Simple News is on the air.


Way, way back in ancient times, all the way back to 1973, the members of OPEC threw the U.S. into a recession by establishing an oil embargo. In other words, they cut us off from their oil and the U.S. suffered its first fuel shortage since the end of WWII.


OPEC consists of Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Qatar, Indonesia, Socialist Peoples Libyan Arab Jamahiriya, United Arab Emirates, Algeria, Nigeria, Ecuador, Angola and Gabon. As you can see, these are all well governed stable countries and friends of the U.S. who we can trust.

For those of you who believe that, I am looking for investors for my new invention that burns plain dirt in your automobile.

But getting back to 1973; never underestimate our government leaders’ abilities to deal with the most challenging of adversaries…by giving a speech. Richard Nixon gave a dandy in November of 1974.

Mr. Nixon was on a roll that day and trotted out his “Project Independence.” The United States, Nixon asserted, should be independent of all oil producing countries, “including our Canadian friends,” by 1976. Canadians “can be pretty tough on us sometimes when they are looking down our throats.” I suspect that Mr. Nixon may have previously been enjoying another famous Canadian import, fine blended whiskey.


The U.S. of course, would never take advantage of our neighbors…unless under the unusual circumstance of our having something that they wanted.


Nixon went on to promise massive public funding for the exploration of American’s remaining energy resources-Alaskan oil and gas, offshore oil reserves, nuclear energy and synthetic fuels from coal and oil shale. Well, if that won’t do it what would?


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Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, (more...)

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