“Energy Independence” is an idea that’s been kicked around for a long time. Back in 1973 during the Arab Oil Embargo that sent prices rising, gas lines lengthening and speed limits dropping, Richard Nixon first brought up the idea of an energy independent America. It seemed to make sense at the time. The Arab world was punishing us for their losses during the Yom Kippur War with Israel. Curtailing their control over our energy production was logical. After all, we were importing nearly 35% of our oil from the Middle East.
Since then, every president has paid lip service to the concept of energy independence but have you noticed that it hasn’t gotten any better? In fact, since Nixon’s first, tentative words on the subject, we have increased our dependence on foreign oil. We now import over 60% of our oil each year and pump prices go up far more than they go down. In other words, we have had an “energy crisis” of one sort or another for 35 years and... [Read Full Article]