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Economic Values

Why America is in debt

Unlike Europe and much of the industrialized world, the United States is large. Petroleum fuels derived from sweet crude oil has been necessary to travel freely in our great country. Oil dependency has been an American problem since the automobile became part of the American Dream.

In recent years, global demand, supply shortages, market speculation and monetary imbalance have pushed prices skyward. The development of the global economy combined with oil speculation and global demand has altered the economic scene in America.

Over the course of time, oil companies have become more and more prosperous as the nation engages in national addiction. The viewpoint of the American citizen is that oil companies are a large part of the problem. Politicians have found it profitable to build discussion and debate over oil profits. If politicians can convince the population of the country that oil companies are responsible for high fuel prices while creating legislation that appears to solve the problem, politicians are subject to great praise and popularity. This political action does not encourage development of energy technologies.

In theory, oil companies pay taxes on profits to fill the government treasury. If not, the domain of politicians is to correct the problem in a fair and equitable way. Politicians have neglected the management of corporate taxes nor have honestly sought to pursue improvements in energy technology. Political America prefers to find a way to tax the windfall profits of the oil industry rather than changing the tax code to collect more corporate tax. They fail to subsidize change by encouraging real investment in new technologies. Neither government nor corporations have been truly motivated or inspired to create change through the promotion of efficient technologies. The government focuses on past actions while seeking out the appearance of impropriety. This action appeases the near-sighted populace of America.

"The president is too busy holding hands with the Saudis to care about American truck drivers who can't afford to fill up their tank any longer," chided Hillary Clinton. "We need a president who can stand up to Big Oil and big energy companies and say enough is enough," chimed Barack Obama.

Because of the fact that the Saudi economy is flush with dollars and is suffering from hyperinflation as a result, the Saudis are somewhat reluctant to increase oil production to receive more devalued dollars. The resulting inflation


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Why America is in debt

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Why America is in debt

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