Moreover, America’s vulnerability to oil supply disruptions forces our brave men and women in uniform to bear the tremendous burden of protecting the global oil supply. And of course, high oil prices enrich major producers including the Organization of the Petroleum Exporting Counties (OPEC), a cartel whose members (many of which work to harm America, including by funding jihad) manipulate the market to make prices higher than a free market would dictate. It’s no coincidence that OPEC enjoyed record revenues last year, the same year Americans spent record levels on gasoline.
Effectively, the global oil market imposes a tax on American families and businesses whenever the price of oil goes up. And just as you can’t hide from the IRS, there is no real way to avoid this tax either – unless you stop using oil.
To be sure, oil is the lifeblood of the U.S. economy and will continue to be for the foreseeable future. However, new transportation options such as vehicles powered by natural gas and electricity are beginning to offer consumers the freedom to have their mobility powered by something other than oil.
A bipartisan group of Fortune 500 CEOs and former four-star military officers has a solution that will foster greater freedom for individuals with respect to the transportation sector. Their organization – Securing America’s Future Energy (SAFE), for which I am an adviser – has proposed opening up new federal lands for oil and gas exploration and utilizing a portion of the new revenue captured to bolster basic research and development of the new technologies America needs to break oil’s monopoly over our transportation sector.
The goal is to allow American families to opt-out of paying high oil prices without having to sacrifice their current vehicle performance or lifestyles. Rest assured: This concept for an Energy Security Trust Fund will not consist of Solyndra-style green energy cronyism that picks winners and losers.
No stone should be left unturned when it comes to improving our economy, protecting our security, and helping overtaxed American families keep more of their hard-earned money. New transportation technologies will delink our economy and security from the global oil market, helping offer relief from the high gas bills straining family budgets. It’s time to get serious about embracing these solutions.