We are in an economic war—and it is bigger than Republicans and Democrats battling over tax increases and spending cuts. It is global.
The stock market has gone up and down, based on news of Europe’s financial solutions one day, and demise the next. Their success or failure impacts the global economy—including the United States.
The various troubled countries: Portugal, Italy, Ireland, Greece, and Spain are often referred to as the PIIGS. While there are myriad reasons for their difficulties, one not discussed on the nightly news is their lack of natural resources. By comparison, the BRIC countries—those with growing economies: Brazil, Russia, India, and China, are rich with resources, which they maximize.
America has an abundance of natural resources, yet our policies keep them locked up. We can’t drill in the Gulf. ANWAR is off limits. Mining is nearly impossible due to regulations. “Endangered species” threaten existing supplies.
Meanwhile resource discoveries are being made and developed the world over.
Last week, Repsol announced a new discovery in Argentina—estimated to be more than 900 million barrels of oil. The oil shale find is reported to be Repsol’s largest ever. Argentina’s potential has attracted investment from both majors and independents. Argentina’s rising energy consumption and higher prices make Repsol’s success especially welcome, representing a potential windfall for the country. Argentina is not crying.
Read More at epaabuse.com EPAAbuse.com