[nathanbedford]

Pat has been a long and earnest advocate of American mercantilism and events in the recent years may well have proved him prescient. Certainly, oil it is a potent geopolitical weapon by which we can actually revolutionize the world economy including political and military power.

A real mercantilist policy would open oil taps everywhere in America, permit the building of refineries, build all pipelines required and flood the world with oil and the results would be tumultuous. My exposure to Russians here in Germany tells me that they are panicking with oil just below $80 a barrel. The Russian economy fails with oil at $80 a barrel. Likewise, Venezuela, as mentioned by Buchanan, might actually go bankrupt to the point where it cannot survive.

The next step, legalize drugs in America and further strengthen our geopolitical situation.

[Theoria]

'permit the building of refineries, build all pipelines required and flood the world with oil and the results would be tumultuous.'

That should have been part of the GWOT. The shallow thinking of our dear leaders never put into place such actions to benefit our long view. Opening up refineries and such would have been a basic tenet for a 'authorization of force' vote.

[lacrew]

If Russia is on the verge of going bankrupt...

The Chicoms will buy more oil for their reserves (its probably a safer investment that loaning $$ to Uncle Sam anyway).

And as Pat mentions, nations around the globe, from Venzuela to Iran depend on oil sales....not to mention all the Arab nations that have absolutely no other export other than oil, and happen to be in the midst of popular uprisings/civil war/ISIS threat. They can’t hold out for long with the lower prices. I don’t think the Saudis are going to be able to pull it off this time.

[mrsmith]

But Pat is wrong here: “Are the Saudis thinking of doing to the new oil-producing champion, USA, what we are doing to Venezuela, Russia and Iran? “

It’s the Saudis who are ‘doing it’ to Venezuela, Russia and Iran (and Nigeria, Ecuador, Libya and US)!
It’s mercantilism at it’s finest: drive down the value of oil production assets and purchase them. They’ve wisely saved the money to do this- we certainly haven’t.

[uglybiker]

The next step, legalize drugs in America and further strengthen our geopolitical situation. when Venezuela goes under, we go in, take over and cover it in coffee plantations.

Then we will rule the world!

[Balding_Eagle]

You had me on the oil bit, but what do drugs have to do with oil?