Earlier this year, something happened that I never thought could happen. People from another country bought more new cars than the people from the United States. And, this year, that number will grow some more. And, next year, it will grow some more. China.
China just passed Japan as the second largest economy in the world. A year earlier, they passed Germany. Their growth is in double digits. They will pass us in less than 20 years. And with that growth, they will need resources.
A couple of years ago, we saw what it was like to have gas prices above $4 a gallon. We haven’t begun to see where these prices will go, but I will guarantee you that the $4 number will be a bargain.
We are entering a new time, a time when the United States no longer controls the flow of all resources. That mantle is being passed to China. They have an economy that demands commodities at any cost. They are beginning to control the mines in Africa for copper. They are making deals with rogue countries for oil. They have something we all need, excess cash, over a $1 trillion a year. They don’t pay interest, they receive it.
While we are spend our time fiddling like Nero, they are planning. They aren’t devious. They just have a lot of people to feed. They are doing what any responsible society does, take care of their own.
And, next door, India has a billion more with the same agenda.
So, today, we have decisions to make. Do we continue operating like nothing is changing? Do we continue not to heed the warning signals that oil, no matter how plentiful, will have to be shared with countries with bigger appetites than ours? Do we not understand that conserving oil, or not getting more efficient with our resources is a national security risk?
Drill baby, drill is not an answer. It’s a punch line. And, it’s not funny. It’s a new day.