Energy is a trade issue.  Imported energy produces 1/3 of our trade deficit.  China represents another third - which is why I focus on China a whole lot.  Everybody else represents the other third - and the border adjustable tax issue is a large cause of that fractional amount.

Consider this:

Since 1999, annual oil revenue for OPEC countries has more than quadrupled, to an estimated $670 billion in 2007, says energy economist Philip Verleger Jr. What's less clear is whether OPEC has merely benefited from tight oil markets or has acted as a true cartel, restricting output and raising prices. The right answer is: both.

Does anybody think Ben Franklin and George Washington would ignore this problem?  Would they dither?  Where are our leaders? as Lee Iacocca wrote.

TrackBack URI for this entry

Comments (0)

Subscribe to this comment's feed

Write comment

Name

Title

Comment

smaller | bigger

Subscribe via email (Registered users only)

I have read and agree to the Terms of Usage.

Add Comment