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.

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