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Energy independence/reducing the transfer of wealth
As Hugh Fitzgerald has said many times, over the last thirty years we have witnessed the greatest transfer of wealth in human history, with ten trillion dollars coming out of the western world and going into the Muslim world since 1973. This morning I participated in a conference call / press conference with the Arizona Consumer Alliance For Energy Security. They are lobbying to pass a bipartisan bill pending before the House of Representatives, H.R. 4761, The Deep Water Energy Resources Act, and another bill in the U.S. Senate, S. 2253, co-authored by Senators Pete Domenici and Jeff Bingaman will allow for increased natural gas exploration offshore. According to their press release:
"The Outer Continental Shelf contains enormous supplies of natural gas, a relatively untapped resource capable of providing tremendous benefits to American consumers and businesses alike. According to estimates, these supplies contain more than 400 trillion cubic feet of natural gas, or enough to power 100 million homes for 60 years. Such a plentiful supply will reverse the current trend of sharply rising energy costs, but federal policies make 85% of natural gas supplies off-limits. The Arizona Consumer Alliance for Energy Security wants to work with Congress to win an important victory for both consumers and business by urging congressional leaders to expand access along the Outer Continental Shelf."
If this will reduce our dependence on OPEC and decrease the amount of money flowing to hostile Muslim polities, I'm all for it.