Petronomics 101

Fox News
Posted: May 9th, 2008 by Thomas L. Knapp
Author: Lt. Col. Oliver North (USMC, Ret.)

“Here at the U.S. Army’s biggest base on the east coast, soldiers and their dependents are eagerly awaiting the arrival of their ‘economic stimulus payments.’ It’s a good thing because, like most of us, these American heroes are going to need the extra money just to purchase their next tank of gas. This week, the IRS begins mailing rebate checks to budget crunching taxpayers. Bush Administration officials hope the checks will be used for a citizen shopping spree to resuscitate the U.S. economy. But instead of getting that new patio grill, consumers are more likely to apply Uncle Sam’s payments to their next purchase of petrol. When the price of oil hit $100 per barrel in January, I wrote in this column: ‘those who wish to lead this nation in the future need to put more than hot air into solutions such as clean, safe nuclear energy for electricity and hydrogen fuel cell technology for propelling people and products around the planet.’ Unfortunately, few politicians seem to have given a second thought to the fact that this country hasn’t had an energy plan for the last thirty years, and it doesn’t look like we will have one anytime soon.” (05/08/08)

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