One Way Out of America's Economic Slump

One of the major reasons for America's economic slump is the rising cost of fuel. The price of crude oil has dropped significantly over the past few weeks (even though gasoline and diesel have not dropped much), however the lower prices will not last. It's time for a major overhaul, and the technologies already exist to do this.

I typically believe in smaller more efficient government, however there are times when this strategy needs to change. Similar to the Tennessee Valley Authority that was established by the U.S. government in 1933, we need a similar government owned company to handle alternative energy production (among other projects that the TVA were involved in). It's time to spend money to create jobs, and launch the U.S. towards a hydrogen fuel based economy. The first steps will be hard, but the long term affects will be tremendous.

The apprehension by the government to do this is apalling. It also appears that whether Obama or McCain win the presenditial election that neither will do enough to make this drastic of a change. The change can be much easier than it sounds.

This change can either be made drastically or gradually. To break out of the economic slump it needs to be made drastically. Gradual change has not been working, and promoting the use of ethanol (while it seemed good at first), has been a contributing reason as to why food costs have increased. People in the government need to step up and move forward. Enough with short term patches and minor solutions because they are getting us no where. We need the change now.

Is America's Solution Drilling for more Oil?

On the surface, drilling for more oil seems logical for the mid-term, but it is neither a short-term or long-term solution. I have read that it will take between 5-7 years for the new drilling to have an effect on oil prices. Even if we have more oil, our refineries are pretty close to the limit of max production, and there are no plans to build any new refineries.

Drilling for more oil definitely is not a long-term solution. The politicians should stop wasting time, and push completely towards the use of hydrogen as fuel. The new oil wells will dry up, and then we will be left in this same exact situation again 15 years later. People need to start thinking far enough ahead and not just for the hear and now.

If the government would get behind private investors to push the building of cars that can use hydrogen (either through fuel cells or combusting it), then we will all be better off in the end. As a matter of fact, the government can do this on their own without private investment as well. This is a big enough project that it surely could warrant the cost.

The politicians need to get together and look at this clearly and with eyes to the future.