Solutions to America’s Energy Crisis

It is time for me to chime in on one of the big topics of the day; the energy crisis. Everyone has an opinion on this and everyone seems to have an answer as to what is the best course of action. However, I don’t believe that one person has offered the one and only answer to solving the energy crisis.

What I believe is that everyone who actually wants to find a solution to this problem has something to offer. It is my opinion that a collective effort by all of whom want to do what’s right for this country is truly the answer. T. Boone Pickens has great ideas to use wind power to generate up to 20% of the energy this country uses. Unfortunately, Mr. Pickens needs some engineering scientist to help find answers to storing the energy. John D. Hofmeister, the former CEO of Shell Oil Co. also has great ideas for trying to make energy more affordable. Those that advocate for greater exploration of natural gas also have great ideas.

To this point, I believe the answer to energy independence for the United States is very similar to the strategies used by investors–In one word “Diversification”. We cannot depend on one source of energy to curb our dependence on foreign oil. While I advocate drilling as much as possible in the United States, on and off-shore, I also believe in wind power, solar power, nuclear power, and the pursuit of more natural gas. Like investing in the market, we can’t put all our eggs in one basket.

None of us have to speculate as to why our government has not pursued all these options up until now. There are of course many political and financial causes for our current crisis. I do believe that we are past the point of no return on fixing the energy crisis. The issue is polling high among the American public and has become a part of the stump speeches of our current Presidential candidates. So there is no denying that implementing a solution sooner rather than later is on the agenda.

If we look at the energy crisis like it’s a national security issue which it is, then we will find that those able to implement change will then do so. Protecting our great nation from outside vulnerabilities has to be a priority for us. The time for apathy has passed and the need for real action has arrived. Diversification is the answer to the energy crisis, we just need to get the word out as Americans that we demand action now not later.

Wednesday, August 20th, 2008 Economics

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