Why count on ourselves for energy when we can rely on our enemies?

Light Sweet Crude Oil (CL-FT)

107.75

Why become energy self-sufficient? The Saudis, our "friends," just gave us the perfect reason!

Although it would take some time, the United States could become somewhat energy self-sufficient. The naysayers to that fact will tell you that we need the energy now, not ten years from now so why pursue it. They will also tell you that we need to move towards some type of alternative energy source to replace our dependence on fossil fuels.

The fact is however that there is no short-term solution to oil, and that we needed increased domestic production ten years ago, need it now and will need it ten and twenty years from now. If you don't start somewhere you will never achieve the goal.

Instead we remain beholden to our "friends" and enemies for our lifeblood which they could turn off any time that they choose.

Oil hits two-year high so the Saudis decrease production!

For all the appeasing done to date by the Obama administration, the real message has been clearly received by our adversaries and partners around the world. This President is a weak and ineffective leader who is led and who does not lead. As a result the United States is more vulnerable now than we have been under any president in a long time. And, it seems that is just that way that President Obama wants it!

What have the Saudis done?

While global demand for oil may have dropped, the fact remains that oil prices are at two-year highs. That said, the Saudi move is a clear reminder that our supply's could take a hit any time other countries say!

"... Saudi Arabia confirmed it has cut output by more than 800,000 barrels a day since mid-March, after it had boosted output by some 300,000 barrels daily to help settle markets after civil war broke out in Libya.

Oil Minister Ali al-Naimi cited weak demand for the cut in output, but said the kingdom would be prepared to open the spigots again if demand strengthens ahead of the summer driving season in Europe and North America when gasoline consumption typically peaks..." (The Globe and Mail)

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