by Richard Young | June 20, 2011 11:19 am
Could the United States ditch its dependence on foreign oil by 2020?
No way, not with the leadership we have, and the never-ending, me-first haggling of both major parties. Hubris, self interest, reelection posturing and financial self-interest all enter in. It is enough to make one sick.
If not America, where then? The answer is Sweden, which is one of a number of reasons I have been advising purchase of the Swedish krona through CurrencyShares Swedish Krona Trust (NYSE: FXS). I have taken a substantial position in this exchange-traded fund (ETF) myself, and will continue to add to my holdings.
Sweden’s government, unlike ours, is committed to a sweeping energy overhaul, and it is following through. Sweden has an aggressive plan to replace all fossil fuels with renewable alternatives.
As Sweden’s minister of sustainable development explains, “There shall always be better alternatives to oil, which means no house should need oil for heating, and no driver should need to turn solely to gasoline.”
The minister’s statement is as true for Sweden as it is true for America, but our politicians are busy with unconstitutional wars, abortion issues and school-lunch programs. Sorry if I am goring your ox, but what I am telling you is the way it is.
Sweden rightly believes that world oil supplies are peaking. The catchphrase here is Peak Oil — a theory I believe is on the money.
Peak Oil maintains that the supposedly friendly regime in Saudi Arabia does not have the oil reserves it says it has. I have been writing for a long time that America should not be doing business with the Saudis or any of the radical Muslim crowd. I mean zero business.
And I sure as hell would not be selling arms to any of these folk. Talk about abject stupidity.
My goal, like Sweden’s, is to sharply reduce the use of oil. My strategic target is for a total collapse in world oil prices.
Just think who the losers would be. Heading the list would be his imperial highness Vladimir Putin and the Russians. Next, of course, would be the Saudis. A crash in oil prices means a crash for both the Russian and Saudi economies.
These countries, as well as our politicians here at home, want you to believe that oil/military hardware politics is something other than what it is. The self-interest of the backers of America’s military/industrial complex rules the day. You and I, and our fellow Americans are paying the bill, and are being left strategically vulnerable.
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