Upon discovery of the Wolfcamp Shale area in Permian Basin in the great state of Texas, the USGA reports it’s expecting the oil reserves to last for decades. However, the Permian's rise on the global stage couldn't come at a worse time for OPEC. Just last November, they put together a delicate deal to manage the oil glut by cutting production.
The U.S. needs to seize this opportunity and become oil independent for ten years while at the same time developing alternative sources of energy. Not only would it filter billions back into the U.S. economy, the need for OPEC and its oil could be eliminated. However, we can’t use up the entirety of our reserves with no plan to ween Americans off oil. America must invest to work to be one of the mid-level users of petroleum products and lead the world in automotive innovation by offering only hybrid vehicles.
With the bailout of the auto industry, our government has leverage with the Big 2 automotive manufacturers. Americans find ourselves in a strategic position to require car manufacturers to design, refit, and produce only hybrid cars in the U.S. With the taxpayer help, the automotive industry bounced back, so it’s time for some payback. Retooling a factory is expensive, and with the savings from using our own oil, the Administration might consider loaning them the money as the previous administration did with the bailout. They are making a pretty penny now so they can afford it.
Oil independence strengthens our position in the Middle East, rather than leaving a void for Putin to fill, and thus ensuring the safety of our oil supply.