Oil produced in America, half of that oil drilled and found in America is sold to other nations. China is in good shape. The Republican idea of energy independence consist of protecting the oil profits for oil found in America that is sold in other nations.
<quoted text>I think China opened up to capitalism when the Soviet Union collapsed. They saw communism collapse so they looked for a new model to survive. Yes, our corporations are just as guilty as China in that they took our manufacturing base out of the country. The rich turned on the U.S. in many ways - from the bankers getting rich while taking the real estate market down, the bank bailouts where they all got bonuses after they took the banks down, the war in Iraq was for Exxon and BP to get control of that oil in Iraq, plus the big defense corporations made billions off of no bid contracts, plus the corporations moved to China, gutted our manufacturing base. They ran up a lot of debt with the war in Iraq. So they abandoned the U.S. in a lot of ways, and then it all came crashing down here at the end of Bush's second term.
I think the end of cheap oil will push China out of the market of manufacturing and selling in mass to other countries. I think globalization will end soon from the end of cheap oil. And, I also think the reason the uber rich took the U.S. down and made so much money doing so is they knew cheap oil was running out long before the rest of us did, so they did things to turn themselves into billionaires in order to cushion themselves from the shock of triple digit oil prices.