How Will Your Life Change?
We've come a long, long way from Beaumont, 1901. That first gusher in the state ushered in an era of change unlike anything we'd seen since the Alamo. It was a pivotal moment where that which we knew was displaced by the promise of great wealth and expansion. What went so wrong in the short course of one century? Some blame greed. Some blame environmentalist groups. Still others blame the government. It was all of the above and more that, bit by bit, chipped away at the successes of days gone by to put us where we are now. I don't know what President Obama's platform will be when officially begins his run for a second term in office, assuming, of course, that he actually runs for a second term. "Hope and Change" ain't gonna get it done this time. According to the Associated Press this morning, oil rose 9%...in 24 hours. And all of this is due to speculative trading based upon the events in Libya. Keep in mind, things in Libya have never been all that stable. And the events of the past week have only just began to ignite. Things can and most likely will get much worse. What do you suppose will happen if the whole region descends into war? What if we cannot get any oil from the middle east or north Africa at all? We get around 21% of our total oil imports from the Persian Gulf region of the world. I'm not sure exactly how much of that includes oil from Libya, but it cannot be much, if any. They only account for about 2% of the worlds daily output. Now, look at the impact that the flap in Libya has had on oil. What if Saudi Arabia falls? Nigeria? Mexico? Canada? Don't laugh. Canada's economy isn't exactly rosy you know. Our domestic production was, last I checked, still hovering around 55%. It should be closer to 80% or 90% in my opinion, but thanks to the efforts of those mentioned above, we're a very long way from that. How will your life change if oil prices continue to climb? Remember what happened in 2008? Gas $4 + per gallon. Diesel $4-$5 per gallon. How did your life change then? I think $4 per gallon fuel is coming back soon. What will we do? We don't have a public transportation system here that is capable of benefiting our region. A large percentage of you live in outlying communities like Iowa Park, Burkburnett, Archer City, etc..,. You work in Wichita Falls. What choice do you have but to drive into town? You have to buy the fuel. So, you'll cut back on meals out, clothes, shoes, cell phones and so on. We'll all have to make the adjustment. And the rest of the economy will suffer for it. We've had crisis like this before. 1979, 2008, no different, right? Wrong. We've never had so much public debt in our history. The debt of our federal,state and local governments is now larger than the entire US economy. America is still the greatest nation on earth. I believe the hand of God was on us during our early years and remains on us, in spite of repeated attempts by various groups to oust Him from our nation. We'll survive. The people will preserve the Republic. But our lives are going to change.