The TV show “Landman,” features a foul-mouthed Billy Bob Thornton who plays the boss of an oil company fighting with Mexican drug cartels while dealing with his crazy family. While the show isn’t always realistic, or even close to it sometimes, it draws attention to the dangers of oil exploration and the how we need oil to keep our economy rolling. That is why we need it from as many sources as possible, including Venezuela.
President Donald J. Trump made his fortune in real estate, but he will go down as one of the greatest oilmen in history, despite the fact that he’s not even in the business. No one more than President Trump, with the possible exceptions of John Paul Getty, John D. Rockefeller and their fellow oil barons, has been responsible for an incredible surge in both exploration and drilling, leading the United States to the point of near dominance in the field.
A waiver for the continued sale of Venezuelan oil on the world market is set to expire on May 27th, and President Trump is considering whether or not to extend it. He should. The benefits to Americans will be in keeping oil prices down on the world stage, therefore, here at home. But also cheaper for everyone else, too, including developing nations and our allies.
There is no perfect solution to the situation – cutting off Venezuela complete has its support but comes at a cost that is always born by those who can least afford it: the poor, both here and around the world. The wealthy can handle increases in the cost of gas and energy with little notice, low-income people can’t. Rising energy costs, especially for gasoline, are a regressive fee that does real damage to the lives of real people. An extension of the Venezuelan waiver would spare people that pain. Likewise, it blunts the influence of our adversaries – China, Iran, and Russia – in the region.
It would be nice if there were a real-life Billy Bob Thornton who could be sent out stick a bunch of drills into the land and fight off all the bad guys as he brings this miracle substance to the world, but that’s not the way the world works. Sometimes the practical and pragmatic must take priority for the best possible to get done.
Oil, wherever it comes from, may well be responsible for the most good done by any substance human beings have discovered how to harness. Until it is somehow replaced by something better, we need all we can get to the surface. Ensure that “black gold” keeps flowing will not only make the world a better place, but it is also key to making American great again.