The petroleum-exporting countries have kept America as a gigantic fish on a steel line for nearly 50 years, reeling it in slowly, and letting it out (relaxing oil prices), when the United States made purposeful noises about raising domestic production, cutting consumption, and going to alternate sources. As soon as OPEC fine-tuned the fishing reel, the great fish went with the docility of the addicted consumer back to its default position mainlining on foreign oil at steadily increasing prices and in ever larger quantities. Every president starting with Richard Nixon warned of the danger in this addiction, but none has done anything useful about it. There must be an emphasis on cheap and plentiful natural gas, more nuclear (with maximum safety standards), more off-shore drilling (with maximum environmental-protection arrangements), and higher gasoline taxes to raise revenues and restrain use. All of this will bring down the international price and reduce the amount of money available for the Iranians, Saudis, Venezuelans, and others to finance terrorism around the world, and will ultimately reduce U.S. defense costs. None of this has been done, though the need for it has been obvious for decades.
Conrad Black, “Why America is suffering”, National Post, 2011-06-11
June 11, 2011
QotD: OPEC’s 50-year fishing trip
April 15, 2010
Uninhabited islands could be flashpoint in Sino-Japanese conflict
A group of uninhabited islands south of Okinawa have the potential to increase tensions between China and Japan. The Senkaku island group is subject to overlapping claims from China, Taiwan, and Japan:
Japan reports that, for the third time in the past 18 months, Chinese warships have been spotted south of the Japanese Island of Okinawa. This time, it was two Chinese submarines, running on the surface. That had never been seen before, in the area near the Senkaku islands (which are claimed by China, Taiwan and Japan). The Senkakus are eight uninhabited islands, which in the past were only used occasionally by fishermen. The Senkakus are 220 kilometers from Taiwan, 360 kilometers from China and 360 kilometers from Okinawa (which is part of Japan).
[. . .]
Five years ago, a Chinese oil drilling platform, in disputed waters halfway between China and the Japanese island of Okinawa, began producing natural gas, despite ongoing negotiations over who owns what in that patch of ocean. The Chinese spent two years building that platform, in waters claimed by Japan. A second platform was later built, as well as an underwater oil pipeline for both platforms. China regularly sends groups of warships to patrol the area, to underline their belief that this bit of water is under Chinese control. Japan would probably win any naval war with China, but since China has nuclear weapons, and Japan does not (at least not right now), such a war could go seriously against Japan. This has been brought up in Japan before, and it is feared that the issue may lead to Japan secretly, or openly, building nuclear weapons (which it could certainly do, and quite quickly.)
I’m certainly hoping that this is just speculation on the part of Strategy Page (the bit about nuclear weapons), as territorial disputes over islands do have a way of getting out of hand (see Falkland Islands, for example).
