Saturday, February 11, 2006

SOTU Speech - Middle East

One of the points made by the President during the speech had to do with our dependence on oil. If you think about the other side of the coin, the middle eastern countries are also dependent on oil. They depend on it for their revenue.
Let's say that in 10 years that the United States reduced oil consumption by 25% through technology. We then give this technology to the rest of the world if they don't already have it. What would that do to countries that depend on oil exports for survival? Is Iran or Saudi Arabia using this money to educate their children and making them productive citizens of the world? Are they generating goods and services to increase their wealth? Will they be exporting any goods and services besides oil? If not, what is going to happen when oil demand drops and prices go down if the President's program actually bears fruit? I can see why these programs would benefit Israel in the long run, can't you?

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