This Is A Matter Of National Security
The Dynamic Wealth Report
June 30, 2010
by Justin Bennett, Editor
The U.S. is dependant on foreign oil. This should come as no surprise.
There have been countless discussions over the years. Politicians have
used it as fuel for debate for decades.
In fact, the last eight Presidents have all talked about reducing our
dependence on foreign oil, starting with Nixon back in 1973 all the way
up to Obama today.
They’ve all wanted to kick the habit… to end America’s addiction to
crude oil.
Of course, politicians have a long reputation of empty promises. Here we
are in 2010 and nothing has changed. Maybe its lack of political will. Or maybe Americans just don’t want to change unless they are forced to.
Either way, America is in the exact same spot it was 37 years ago…
We rely on foreign countries, many of which dislike us, to fuel our
habit. And there’s no end in sight.
According to the U.S. Energy Information Administration, the U.S.
imported nearly 1.2 billion barrels of oil in 1970.
In 2008, the U.S. imported over 7 billion barrels… a whopping 19 million
barrels of oil per day. That’s a mind-boggling number…
In fact, imported oil accounts for over 60% of the oil we use.
The demand for oil in the U.S. is tremendous. With just under 5% of the
world’s population, we account for 25% of the world’s daily demand for
oil. There’s no doubt about it, we’re gas hogs.
But here’s where it gets really interesting…
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According to Securing America’s Future Energy (SAFE), a mere 4% global
shortfall in daily supply would cause a 177% increase in the price of
oil.
That’s right, even a small supply disruption would send oil from $78 to
over $216 a barrel. How does $8 a gallon gas sound to you?
Fortunately, the likelihood of an extreme scenario like this is low.
But it’s not impossible… and the odds of it happening are growing each
day we drag our feet. I have no doubt in my mind we’ll see gas prices
north of $5 a gallon within the next five years.
Needless to say, this would bring a lot of hardship to Americans. Our
economy will have many problems handling it…
This puts us in a precarious position as a nation. We are fully
dependant on other nations to carry out our daily activities. Any
interruption of oil to global markets and gas prices would become
unaffordable for many people.
I’m not trying to scare you, I’m just stating the facts.
You can easily see our dependence on oil is a matter of national
security.
It’s time to kick the habit my friends…
Government clearly isn’t going to do it for us. We have to take the
initiative. You and me… we have to make the changes the U.S. needs. We
can’t wait for government to lead the way.
As consumers, we vote with every dollar we spend. If we keep buying gas
hogs, companies will keep making them. It’s time to demand more of the
auto manufacturers.
It’s time to do our part to reduce our addiction to oil. Don’t wait for
Washington…
Now, I won’t be naïve and think this can happen overnight. And not
everybody in America will rush into fuel-efficient cars. Many Americans
rely on big engines to get their work done. Those needing a “big rig” to
make a living won’t trade it in on a Prius.
But if you just need to get from point A to point B, embrace this
opportunity to change.
Nearly 65% of the oil consumed in America goes into transportation. By
reducing the demand for transportation fuel, we can get ahead of the
game.
Here’s a simple change you can make…
If you’re in the market for a new car, buy something as fuel efficient
as possible. Forget about the gas-guzzler…
Make the switch on your own terms. Don’t be forced into change by the
price of gas. You don’t want to be buying a fuel-efficient car when gas
is $5 a gallon.
You want to be buying it now… when gas is relatively cheap.
Remember when gas prices were over $4 a gallon in 2008? The demand for
hybrids and other fuel-efficient cars was sky high. And dealers were
charging outrageous premiums.
This doesn’t have anything to do with “global warming”…
But it does have everything to do with America remaining a vibrant
country. We’re a beacon of leadership in the world, with our ideas and
love of freedom.
But, we can’t continue to be this ideal if we’re dependent on other
countries for basic energy needs.
It’s time for us to set an example for the rest of the world to follow…
it’s time to kick the oil habit.
Of course, where there’s crisis… there’s opportunity. In coming weeks,
we’ll take a look at companies who are on the cutting edge of fuel
efficiency. As gas prices move higher, these stocks could see huge
potential returns…
• Copper (Under $3 a pound)
After seeing a 13% rally off of recent lows, copper prices were hit hard
yesterday. Concerns over weakening global growth sent the industrial
metal down nearly 6% on the day. Copper is widely used in the
construction industry for piping and wiring.
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