Many can recall the gas lines, oil embargoes, and energy crises of the 1970s that hurt the U.S. consumer and reduced U.S. power.
The Nixon, Ford, and Carter administrations all took their lumps during that period and had to calibrate Middle Eastern and strategic options to that reality.
But because of the pro-market energy policies of President Trump those days are gone.
The president’s championship of fracking and shale has made the U.S. a net exporter of energy going into 2020.
OPEC, especially due to the world oil glut of the past several years, is a shell of its former self.
The International Energy Agency, which is an energy policy organization based in Paris, even predicted in a December statement that the U.S. is on course to become a continual exporter of oil and gas, “On a historic note, in September, the United States momentarily became a net oil exporter. This is a major milestone on its path to becoming a sustained net exporter, which is likely to be late in 2020 or early in 2021.”
The one sour note in this otherwise shiny scenario is the obsession of U.S. Dems with socialist and allegedly “green” policies that would set the energy clock back to the time of the 1973 Arab Oil Embargo. – READ MORE