I have a real tough time understanding the newest battle cry over the concept of energy independence; wherein, the creditable ones confidently declare, to a willing community of listeners and readers that: Never in America’s history has an annual $700 billion dollars been paid out of this country to foreign nations. These geniuses, who include, T. Boone Pickens, go on to note that this is the largest transfer of wealth in the history of mankind.
We recipients of such nonsense should believe that this so called transferring of wealth is a gift to foreign nations? Or did we, instead, acquire a commodity for resale at a profit? Now please think about what these solicitors of the absurd are declaring to us (in their eyes) ignoramuses; these hustlers of self-serving purpose are implying that the $700 Billion of purchasing has no resale for profit application. Ridicules!
The $700 B expenditure of capital is called one side of a trade; which we purchased for profitable resale; that profitable resale is the other side of the very same trade. We made the trade because and for clearly defined explicatory reasons. Profitable resale! This trading of dollars for commodities and services is global in scope; such global trading, in the form of long tail derivatives, create trillions of direct and collateral taxable revenue that benefits consumer, tradepersons, and form the tax base for the governments of this nation.
The era of President Madison was the last vestige of American independence of foreign trade or global responsibilities. Trade is security; global trade is a fact of this nation’s lifeblood. There is no such thing as energy independence; conversely, there is such a thing as global military dominance. The United States is the singular guarantor to global trade; this nation is the insurer of trade-surety, such an issuance of trade-surety is of everlasting, immeasurable value.