Given that it's a finite resource, the wise long term plan seems to this lunk to be to continue to buy other people's oil, since we can afford it, and reserve our own reserves for the future, when the finite resource begins to tap out and things get desperate.
I got brainwwashed in college in 1971 that by 2000 all fossil fuel would be exhausted and 20% of the earths population would be killed by pollution. IIRC that was a full up professor and the book was "The limits of growth".
I came out of there and built a super insulated solar house and 5,000 sq ft garden. When I started doing consulting engineering, I had to be fastidious about what I knew and why I thought I knew it. I suddenly realized I have all kinds of perceived risks affecting my values, that should have been calculated risks.
Having designed all kinds of solar and wind powered alternative energy equipment in the early 80s, I now believe in a completely market driven energy policy.
I know some people that own oil wells. I know some people that speculate in oil futures. I am fine with all of them.
I play a game at the gas pump. I look for someone who can hear me and say, "This is getting expensive".
I almost always get and angry response.
The way that politics works is:
1/3 of the electorate is well informed and committed liberals.
1/3 of the electorate is well informed and committed conservatives.
1/3 of the electorate is ill informed and uncommitted independents.
Those independents seem to really care about gas price.
I hope gas gets really expensive so we can get rid of Obama.
