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Turning on the Spigots

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From The Personal And Economic Benefits Of Cheaper Oil at investor’s Business Daily:

The U.S. imports about 3.5 billion barrels of oil a year. So a $20 reduction in price is equal to a $70 billion tax cut. And since we consume more than twice that much oil each year, the tax cut is closer to $150 billion. Gas prices at the pump are down 40 to 50 cents a gallon in some areas. Not bad.

Why are prices falling? Yes, the world economy is slowing down, and with it global demand for crude. That’s especially true with welfare-state Europe looking again like an economic basket case.

But a bigger factor is that Saudi Arabia is turning on the spigots. The Saudis aren’t stupid. They see the writing on the wall from the shale oil and gas drilling revolution in America. U.S. output is surging, with production double where it was just seven years ago. By pushing down the price, Saudi sheiks may be trying to drive out high-cost drillers to slow future production.

Another piece of very good news here is that the Saudis are crippling their former OPEC partners-in-crime. The Iranians and Venezuelans are screaming bloody murder and demanding emergency OPEC meeting to curtail production. The Saudis are in no hurry to do so.

The economic reality is that as the U.S. becomes more energy-dependent and can even reach energy dominance in the years to come, OPEC is becoming a toothless tiger. It can no longer hold the world hostage to high oil and gas prices.
Read More At Investor’s Business Daily: http://news.investors.com/ibd-editorials/101714-722388-falling-oil-prices-good-for-motorists-consumers-economy.htm#ixzz3GXKvBSRw
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The Russians are also greatly hurt by cheaper oil.

While we may take some delight in hurting the economic interests of our adversaries with lower oil prices, we should be cautious. In the absence of economic gain they may seek gain by other means.

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Terrorism’s Enabler

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“In this changing climate, moreover, it did not help that Chomsky, even though he sometimes called himself a libertarian anarchist, repeatedly rushed to apologize for or side with any totalitarian despot, whether Communist or fascist and no matter how murderous, provided only that the despot in question was ranged against the United States. To the consternation even of some formerly devoted admirers, this included Pol Pot, who had slaughtered one-third or more of his own people in setting up a Communist regime in Cambodia. As a result of all this, Chomsky, too, like Buchanan, was increasingly relegated to the margins and largely forgotten.

“After 9/11, however, and unlike Buchanan, Chomsky found a newly receptive audience and one bigger than ever. Arch Puddington of Freedom House summed it up in an article in Commentary:

9/11, a pamphlet-sized book of responses to questions from foreign journalists, sold over 300,000 copies in 23 languages. According to one survey, Chomsky is the most cited living author, and the eighth most cited of all time (just behind Freud). His speeches draw packed houses. At the World Social Forum, an annual gathering of the anti-globalist movement, he is a featured personality. The current generation of young leftists treat Chomsky as a celebrity, and pay him the kind of homage normally reserved for rock stars or cult icons. He is the subject of several reverential documentary films, which depict him as an isolated voice of truth against a corrupt and warmongering establishment, and he has even inspired a one-man theater work, The Loneliness of Noam Chomsky.” 

Excerpt From: Podhoretz, Norman. “World War IV.” Doubleday, 2007-09-11. iBooks.

This material may be protected by copyright.

Check out this book on the iBooks Store: https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewBook?id=420784726

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Pat Buchanan’s tilt towards anti-Semitism on the eve of the Iraq War caused him to be marginalized by the right.  Chomsky’s equally odious slant caused him to be a celebrity of the left.  Anti-Semitism has found a much more welcome reception from the left.

 

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Beyond Containment

“But there was also a big difference here. Reagan’s arms buildup, together with his refusal to accept the Brezhnev Doctrine of “what’s mine is mine, and what’s yours is up for grabs,” signified a return to containment and deterrence. Bush, however, believed that this very strategy had been rendered obsolete by 9/11. To cite the relevant passage again:

For much of the last century, America’s defense relied on the cold war doctrines of deterrence and containment. In some cases, those strategies still apply. But new threats also require new thinking. Deterrence—the promise of massive retaliation against nations—means nothing against shadowy terrorist networks with no nation or citizens to defend…. Containment is not possible when unbalanced dictators with weapons of mass destruction can deliver those weapons or missiles or secretly provide them to terrorist allies.”

Excerpt From: Podhoretz, Norman. “World War IV.” Doubleday, 2007-09-11. iBooks.

This material may be protected by copyright.

Check out this book on the iBooks Store: https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewBook?id=420784726

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Inexperienced Foreign Policy Advisors

Bret Stephens writes The Meltdown in the September Commentary.

Excerpts:

None of these fiascos— for brevity’s sake, I’m deliberately setting to one side the illusory pivot to Asia, the misbegotten Russian Reset, the mishandled Palestinian–Israeli talks, the stillborn Geneva conferences on Syria, the catastrophic interim agreement with Iran, the de facto death of the U.S. free-trade agenda, the overhyped opening to Burma, the orphaned victory in Libya, the poisoned relationship with Egypt, and the disastrous cuts to the Defense budget—can be explained away as a matter of tough geopolitical luck. Where, then, does the source of failure lie?

For those disposed to be ideologically sympathetic to the administration, it comes down to the personality of the president. He is, they say, too distant, not enough of a schmoozer, doesn’t forge the close personal relationships of the kind that Bush had with Tony Blair, or Clinton with Helmut Kohl, or Reagan with Margaret Thatcher. Also, he’s too professorial, too rational, too prudent: He thinks that foreign-policy success is a matter of hitting “singles and doubles,” as he put it on a recent visit to Asia, when what Americans want is for the president to hit home runs (or at least point toward the lights).

Alternatively, perhaps he’s too political: “The president had a truly disturbing habit of funneling major foreign-policy decisions through a small cabal of relatively inexperienced White House advisers whose turf was strictly politics,” recalled Vali Nasr, the academic who served as a State Department aide early in Obama’s first term. “Their primary concern was how any action in Afghanistan or the Middle East would play out on the nightly news.”

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A Gun and a Grudge

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From Daniel Greenfield at The Sultan Knish, Where the Black Flags Fly

Excerpts:

About the only reliable source of wealth comes out of the ground and the countries that have it are usually too lazy to get it themselves. That’s what the armies of Western engineers are for. They don’t build their own skyscrapers with the oil money. That’s what the disposable Asian workers are for.

Killing is the easiest solution to most problems. Men kill over honor. Women kill themselves out of desperation. Children grow up torturing animals.

Clerics settle religious questions with murder. It’s just easier that way.

Theological debates are complicated and impossible to settle, but fly the black flags, seize a village, kill the men and force the women to convert to the true faith of the machine gun and the sword and the debate is over.

ISIS is how Islam has been settling questions of theology since the 7th century. Why stop now just because you can order takeout from your smartphone? Westerners are innately fascinated by new technology. For the Middle East, technology is a tool for settling medieval disputes. Twitter is just a way of showing off your latest crop of severed heads. The pickup truck substitutes for a camel.

Politicians settle political debates with more murders. Elections are complicated. Democracy is messy. It’s easier for a colonel to take everyone out back and shoot them. And then spend the next twenty years building palaces with his people’s wealth. And the people mostly like it that way too.

When life is worthless, everyone has a gun and a grudge, it’s easier to kill than not to kill. You can see that phenomenon as readily in Chicago as in Iraq. Why not shoot the guy next door because he owes you money, because your daughter looked at him twice, because he’s on your turf or because he’s a Kurd.

Or because it’s Thursday.

Under crowded conditions, life is cheap but honor is expensive. Fights start over the pettiest things and escalate into relentless violence. You can see it in Yemen or in Ferguson. Everyone is just waiting for an excuse to be angry about something and to take it out on someone else.