In my lifetime, I never thought I'd see this line: - Granite Grok

In my lifetime, I never thought I’d see this line:

Rambler Ambassador 1965I got my drivers license back in 1973 – in fact, in October.  The exact same month that OPEC declared its oil embargo against the US.  One day, gas was 25 cents / gallon.  Then it climbed to 55 cents – hard to take as a high schooler working 10 hours / week part time at $2/hour as a stock boy.  And my first car, a white 1965 Rambler Ambassador (replica to the left) was not exactly a gas miser.

Well, a few decades later and the product of American ingenuity called fracking has turned the tables on OPEC:

OPEC Complains That United States Is Pumping Too Much Oil

Heh!  This from that OPEC was just pure self-seeking (emphasis mine):

We are often reminded that in today’s multilateral world, where continents, regions and countries are increasingly becoming interconnected, there is little room for unilateral action, especially in the vast and intricate world of commodity trading. Today, operating purely through self-interest is quite simply frowned upon. As the old adage says, a problem shared, is a problem halved.

Yet, when it comes to the supply of petroleum, there is a stubborn willingness of some non-OPEC producers to adopt a go-it-alone attitude, with scant regard for the consequences. These parties consider producing to the maximum as being the norm. To them, rationalizing the development of one’s precious natural resources in keeping with market demands appears to be an alien concept.

Yeah, OPEC is steamed that the rest of the world is upsetting its in-grown cartel ways.  Why SHOULD non-members play nice with OPEC who would cut them off at the knees if given half a chance.  No, this is a lament that they are, if not dethroned, in serious competition; the status quo has been rocked.

And as for me, I’m loving these low prices.  But I also recognize that our present Administration is still in favor of $8/gallon for gas prices and already they’re prepping a new onslaught of regulations to, effectively, steamroll our technological advantages.  After all, Obama’s main transformational action is to ensure that America is no better than any one else.  Sure, he says the right words (sometimes) but his actions tell us different.

(H/T: Instapundit)

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