AP Associated Press (5-12-13)
Washington (AP)- A domestic natural gas boom has lowered U.S. energy prices while stoking fears of environmental disaster. Now U.S. producers are poised to ship vast quantities of gas overseas as energy companies seek permits for proposed projects that could set off a renewed frenzy of fracking.
Expanded drilling is unlocking enormous reserves of crude oil and natural gas, offering the potential of moving the country closer to the decades-long quest for energy independence. Yet as the industry looks to profit from foreign markets, there is the specter of higher prices at home and increased manufacturing costs for products from plastics to fertilizers.
If approved, according to the AP report, the resulting export boom could lead to further increases in hydraulic fracturing.
But consumer groups and some manufacturers that use natural gas oppose expanded exports, saying they could drive up domestic prices and make manufacturing more expensive. Many environmental groups also oppose LNG exports because of fears that increased drilling could lead to environmental damage.
That seems somewhat reasonable, after all were are fracturing the crust of the earth to get to this valuable natural resource. But, that is not the primary topic of this article. The perception though, that the cost of natural gas and oil products would increase here at home is something that should concern all of us.
The myth that we are running out of oil and natural gas is obviously just that a myth. Oil companies seeing that they are about to return to the days “Dallas”, are poised to sell off as much natural gas and oil that they can in order to increase retail prices here at home. High profits on both sides of the ocean. However, while big business continues to increase the cost of living, they persist in keeping wages down thus breaking the back of the middle class.
Wages are stagnant, but inflation continues to rise. While the oil industry might see more job growth, and while it might be true that other industries, dependant on this natural resource might see an employment increase, keeping wages low, and profits high only serve to hurt the American consumer.
For many years, Arabic nations have profited off of the greed of the United States. For decades we enjoyed a virtual monopoly on the production, emport, export and development of oil products. However, as other nations have developed and entered the fray, we are not the only ones fighting for oil products. As a result, we fell behind, as did our economy. Now, big business sees this new opportunity, and cares less about the American economy, and only about the greed of their own bank accounts. Enough, is enough. We, the consumer need to step up to the plate and tell our congressmen, senators and representatives, that we are not in favor of trading off our oil and prosperity in the name of corporate profit increases.
Congress needs to know, that one of the reasons that the American economy is so sluggish is that the American middle class is disappearing before our very eyes. There are those out there who believe in a two class society. The rich and the poor. However, our economy has always moved forward with strong, hard-working progressive middle class.
Yet again though, American enterprise has decided to push the American people out-of-the-way, just the way they did with the recent housing crisis, that drove us head-long into one of the deepest recession’s since the 1930’s. We are expected therefore, to just take this sitting down. We are expected to keep our mouth shut and go along with the play. I hope that is not the case this time. It is time for us to return to prosperity, and for the middle class to finally recover.
That’s my point of view…..I look forward to your comments on the issues of the day. Until then …Have a great day and as usual……….. God Bless America!