Don't worry about a dearth of oil, America. We have enough to supply thee and me for centuries.

Worry rather about the monster you/we have created called globalization, free trade.

Looked good on idealized corporate books, but the realization is typical ideologue disaster.

Anytime ideologues come up with an idea to transform the world, fix things, neglect pragmatism, the inevitable result is calamity.

So we have market-priced $140 oil sent everywhere while home-users starve. Where have I heard that before?

Meanwhile, the much vilified country of Hugo Chavez enjoys 14 cent per gallon gasoline for its refusal to buy into the North American paradigm, yet sells massive surplus at market value. Silly them!

Globalization, free trade is a good idea, but it must recognize that home trumps away, global pricing for domestic natural resources is traitorous, assignation of power and control to foreign entities is recipe for disaster.

Just sayin'...

Can someone help me attribute this quote?

I think it might be from Bruce Reed, In the Has Been. But I love it: " The dreamer looks at the world as it could be and says why not, but the ideologue looks at the world as it is and says: No it's not!"

We made a "deal with the devil" when we pursued fast track trade agreements for free trade rather than including labor and environmental provisions in the agreements. We gave up our leverage. We (or our politicians' corporate sponsors )wanted to open up markets for our products and ended up sending our production overseas.

DrNo,

I don't know where the hell you got the idea that we have centuries worth of oil, because I'd love to know where it is. And don't tell me about shale oil, because that shit might as well be on the other side of Pluto.

As for gas in Venezuela, that government subsidizes the price, as do many oil producing nations, which is why consumption there is soaring.

Leaving aside Revrick's objection that we have decades, not centuries of oil supply at current rates of consumption, by taking into account the tar sands of Alberta but not shale, the downside of globalization comes with the territory. We cannot simultaneously have cheap goods from Chindia and low oil prices, because Chindia has to modernize to produce them. Low prices of corn drives the Mexican farmer across the Rio Grande as it also drives manufacturing (and increasingly engineering and design) jobs offshore. We thought we could get a few free lunches, and it is not turning out that way. So I always like to ask the question, what next? Abolish globalization now that it is benefiting others? Do we quit the poker game after losing the last few rounds?