Posted on 10/06/2009 5:47:49 PM PDT by Al B.
The British newspaper The Independent reported today that Gulf oil producers were negotiating with Russia, China, Japan and France to replace the dollar in pricing oil with a basket of currencies.[1] According to the Wall Street Journal, Arab oil officials have denied the story, but even the possibility of such a talk weakens the dollar and renews fears about its continued viability as an international reserve currency.[2] In fact, today a United Nations official called for a new global reserve currency to replace the dollar and end our “privilege” to run up huge deficits.[3] We can see the effect of this in the price of gold, which hit a record high today in response to fears about the weakened dollar.[4]
All of this is a result of our out-of-control debt. This is why we need to rein in spending, and this is also why we need energy independence. A weakened dollar means higher commodity prices. This will make it more difficult to pay our bills – including the bill to import oil.
In his book Architects of Ruin, Peter Schweizer points out that the Obama administration is focusing soley on “green energy”, while ignoring our need to develop our domestic conventional energy resources.[5] We’re ignoring the looming crisis caused by our dependence on foreign oil. Because we’re dependent on foreign nations for our oil, we’re also at their mercy if they decide to dump the dollar as their trade currency. We can’t allow ourselves to be so vulnerable to the whims of foreign nations. That’s why we must develop our own domestic supplies of oil and gas.
Though the chant of “Drill, baby, drill” was much derided, it expressed the need to confront this issue head-on before it reaches a crisis point.
Bottom line: let’s stop digging ourselves into debt and start drilling for energy independence.
- Sarah Palin
[1] See http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
[2] See http://online.wsj.com/article/SB125484066563367821.html
[3] See http://www.breitbart.com/article.php?id=CNG.e272eaa74dccc30f21c6ff7638b0f37b.461&show_article=1
[4] See http://news.yahoo.com/s/afp/20091006/ts_afp/commoditiesgoldmetalsprice_20091006144514
[5] See http://www.peterschweizer.com/
And she is not talking about Windmills.
barbra ann
wow!
By the way, I met Sarah’s parents and brother Chuck at the Friday Beer Bash at Stoney’s here in Vegas last Friday. Bought Dad and Bro a beer! Way too cool people.
Right on!!!!!
Thanks for the linky-links.
She is on a roll. Notice when she posts one thing, she usually follows it up with a few more posts. SHE ROCKS!!
Holy crap are you fecesing me??? This lady ROCKS!
Stay safe Sarah!
BTTT - This is what I was talking about, the need to be energy independent so we won’t have to waste time and lives in the Middle East.
Sarah Palin, intelligent, America loving, common sense and fearless.
Sarah Palin understands what all of the people who went to DC on their own dime understand. That we are in this to win this, for America.
Ping!
I think I might be in love with her! I shall order her book for my local library when it is available is the UK (and buy it as well).
*Note: Schweizer’s book is a real eye-opener. The sections on ACORN are quite informative.
The lady has b*lls of steel.
Correct, but that does not conflict with what I said. Becoming energy independent is a national security issue for sure, but the problems of the Middle East will continue even when we don’t depend on it’s oil. Palin understands this, which is why she has stated support for helping, through various means the Middle East to get stable and free systems that won’t endanger the world. Terrorists and tyrants with nukes are a danger even without oil.
I disagree, but I won’t argue my point on this thread though.
Sounds like she’s been watching Glenn Beck recently.
I’ve thought for a while now that there might be something going there. She posted something a while back about watching his show. Then he started this whole thing about having a whole bunch of moms come in to the studio and had another follow-up on it and the need for moms to take action, mentioned Sarah Connor from Terminator whose name sounds awfully similar to someone else. Then the only info about her book that was leaked is that the title is from when she broke free of the McCain handlers and went “rogue” by calling Beck on her own. Beck was in Seattle recently, the closest major city to AK. His whole corruption, both parties at fault, need to throw all of them out, refounders thing. Seems more than just a coincidence. It’s almost like Beck is preparing the ground if you will.
Maybe Sarah can be like Oprah and start her own book club, since she mentioned this Schweitzer fellow. How about once a month or so, she mentions a book on an important policy topic and somehow through various radio and TV appearances and elsewhere tons of conservatives all read it and get informed and discuss it, etc... It’ll be like a college seminar. After a year, every conservative will be fully informed and educated and full of good ideas and policies.
yes!
Yep! Energy Independence should be the focus, not Globull Warming.
Grassroots revolution, Palin-style. Sign me up.
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