Wednesday Oct 16, 2013
Shock Opec
Forty years ago this week, America received a harsh lesson about the dangers of relying on others for energy. U.S. aid to Israel amidst the Yom Kippur War gave members of the OPEC cartel an excuse to embargo oil supplies to this country and drive up prices worldwide.
Ever since, politicians have promised to reduce our dependency on unreliable foreign sources. Finally, technology breakthroughs and newly discovered gas deposits could make us the largest energy exporter in the world.
If we take steps to turn our natural gas into a widely available transportation fuel called methanol, moreover, we could break the back of OPEC, once and for all. That, in turn, would help dry up the funding that has done so much to power jihadism and undermine our economy. It’s about time.Version: 20241125
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