Let’s take a fresh look at one of our nation’s greatest resources, oil. Our country has been blessed with this tremendous wealth and we are now, for the first time in history, self-sufficient in oil. Yet, we continue to ship this great piece of American wealth into the global market with a negligible effect on the price at the pump, translating only in profits for the corporate elite. It is America’s resource, and it is high time we start talking about an American market for the American people. Keeping our oil supply here in this country, and improving our refineries to process that oil, will bring the price of oil down and at the same time create a true strategic supply of oil, unaffected by world market fluctuations. Instead of the price of oil being set by OPEC, the price would be set by Americans. Lower oil prices will affect the cost to fuel our vehicles and heat our homes and will create downward pressure on prices for every consumer product, affected by the price of oil, through transportation costs.
Limiting the profit will limit the corporate profit motive. Currently, oil is still our major source of energy, precisely because the profit it gives the multi-billion-dollar oil companies, but it is not the best energy to fuel America in the long run. Oil is not clean burning and is used to make plastics, which are toxic to the environment. Americanizing the oil market will lessen that profit for the oil companies who will be forced to change their focus to other forms of energy that will become more profitable than oil. They need an incentive to follow where technology is leading the world, in the direction of cleaner and more sustainable energy sources for the long term good of every American.