Wednesday, July 28, 2004

Oil independence is not the answer

Arnold Kling over TCS reminds us about economic reality when it comes to Saudi Arabia and our dependence on their oil. Conclusion:
The real issue is the alleged Saudi funding of terror. No matter how much demand we withdraw from the oil market, the Saudis will have revenue and we have to be concerned with how they use it.

If cutting off funding is critical to winning the war on terror, then we must press the Saudis on that point. We should tell them that we respect their rights as a sovereign nation, but they owe it to the community of nations to not fund terrorists. If that approach does not work, then it is a waste of time to wring our hands over our "dependence on foreign oil." The only fallback position is the one suggested by my wife: just take the oil.

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