HIGHLIGHTS: Hybrid cars could push OPEC to drop the dollar as global trading currency. Hybrid car demand is growing and America is planning to reduce foreign oil dependency as a result.
OPEC Building Muscle Against Hybrid Vehicles
As of Monday, there are growing signs that OPEC (Organization of the Petroleum Exporting Countries) may drop the dollar as a global currency in its fight against Hybrid cars. The report came from Fox News, and other news agencies soon followed. Apparently, some countries including Saudi Arabia, China and Russia are secretly urging OPEC to use an alternative currency since the dollar is growing weaker.
Ironically, Japan is also one of those countries, the home of the Toyota Prius and Honda Insight Hybrid. However, these reports have been dismissed as speculation. There is no concrete evidence to support these claims, but I wouldn’t be surprised if such a move did exist.
When the United States admitted in 2008 that the country was in the midst of an economic recession, the first thing that OPEC did was raise the price of oil. This decision nearly doubled gas prices in most areas around of the country. The fuel prices further drove the economy to the ground while consumers shopped for fuel efficient vehicles. Since then, demand for Hybrid cars was born and many people started looking at these vehicles more seriously.
Hybrid cars are built with a gasoline engine and electric motor. The electric motor is used to power the vehicle at slower speeds while turning off the gasoline engine to save fuel. When the gas engine is running, it will automatically recharge the Hybrid electric motor batteries for later use. These automobiles are built with a lot of technical innovations than conventional cars.
For example, Hybrid vehicles are better for the environment because most of them have less belts under the hood. In addition, they run cleaner than their conventional counterparts. There is also less potential maintenance involved.
Unfortunately, Hybrid cars still use grease for moving parts and demand oil for its gasoline engine. If automobiles switched to electric energy, they wouldn’t need the gas engine. Reducing our foreign oil dependency is a great idea, but it also comes with a few consequences.
I predict that two things will happen during the next 18 to 24 months. As consumers drive more fuel efficient vehicles, OPEC will raise oil prices. Also, we will learn the truth that OPEC will plan to drop the United States dollar. These are the two weapons they have, and while it seems like a new plan, it isn’t. OPEC has been playing this business game for as long as I can remember.
Financial analysts say that if OPEC drops the dollar, it’s a huge problem for the United States. My question is why? As new alternative energies are explored, oil is going to fade out. Is it only a problem because our money won’t go to build new hotels in Saudi Arabia? Does this mean that Iran will have to drop plans to build a nuclear weapon? Could it also become a problem with China, since they are already buying up most of the global supply?
The United States is the best country in the world. Are you going to tell me that just because OPEC wants to drop the dollar that America will somehow fall off the planet? I don’t believe that. I believe in renewable energy and that’s exactly what America is doing. If OPEC feels threatened that Hybrid cars could reduce their income, then perhaps they should help invent alternative energy instead of funding terrorists and building casinos.