Yet another dagger has been thrust into the heart of the advocates of drilling for oil in the Atlantic. And none other than by the Wall Street Journal wielded the knife.
It its June 16th editorial the WSJ laid to rest the argument that the U.S. must explore for oil in the Atlantic and drill for every drop to help us become energy independent from our enemies.
“Remember the “energy independence” preoccupation of not so long ago?” mocks the WSJ of those who still cling to that outdated view. “The U.S. is now emerging as the world’s energy superpower,” continues the editorial noting that some weeks the U.S. is exporting “more than one million barrels of oil per day.”
The WSJ now joins the Trump Administration in rejecting fears of hostile foreign governments blackmailing our country over oil.
The Administration’s recent budget proposal would sell off half of the nation’s Strategic Petroleum Reserve which was created in 1975 in a national energy security effort. Says Trump’s OMB director Mick Mulvaney, “I don’t need to take this much of your money to bury it in the ground out in West Texas someplace for domestic security and national security reasons when we have domestic supplies like we do.”
The WSJ does acknowledge that the “U.S. still imports about 25% of petroleum consumption on net” but ads that its “mostly from Canada and Mexico”.
Frank Knapp Jr.
President & CEO