South America, Loss Of A Continent
By E. Ralph Hostetter
May 18, 2007
Page 2 of 2
This costly loss of Western and capitalistic influence in South America is largely due to two closely related subjects: One is oil itself. The other is the Congress of the United States, which should have provided full energy independence for the United States but, instead, collapsed in the face of opposition from the far left, the anti-capitalist Greens, and worse.
The Chavez path to power can be laid directly on the transference of American wealth to his doorstep through excessive crude-oil pricing. The United States is financing armament build-ups in a number of areas in the world by this same manner. Had the U.S. needs for petroleum been satisfied by its own development of energy the price of oil would have remained stabilized in the range of $15 to $20 per barrel.
Forgotten are the memories of the Arab boycotts of the mid-1970s into 1980s when the price of oil went to $40 per barrel. America's economy was saved at that time by the 1980s vast oil reserves of Alaska and the Alaskan pipeline, both of which came on line in the 1970s and which brought the price of oil down to as low as $10 per barrel. Obviously there were brighter bulbs in the congressional chandelier at the time. It is America's need for oil that provides the lightning rod for our enemies. There is no shortage of oil in the world. The supply easily meets the demand.
The oil issue has become the great game of the day -- "How many ways are there to make America squirm?" They're laughing at us, folks.
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E. Ralph Hostetter, a prominent businessman and publisher, also is an award-winning columnist and Vice Chairman of the Free Congress Foundation Board of Directors. He welcomes email comments at eralphhostetter@yahoo.com.
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Note -- The opinions expressed in this column are those of the author and do not necessarily reflect the opinions, views, and/or philosophy of GOPUSA. >> Back -- Page 1 2
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