Here is a suggestion for our sitting on his hands President.
Open the local oil/gas tap. Drill. What will this action do?
- First it will create thousands of jobs. Jobs that pay taxes.
- It will also boost corporate revenues so they will pay more taxes.
- It will turn the United States into a global exporter of oil. More tax revenue.
- It will increase the amount of slack in the global oil market, so will drive down the price of oil.
- It would give this country a tool to help allies. It would buffer countries like Britain and France from being held hostage to the likes of Libya or Iran.
- It will also reduce the outflow of American capital to oil producing countries that have horrible human rights records. For example Venezuela.
I hope this polite suggestion helps the President of the United States understand all the positive benefits for increased oil exploration and production.