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Why, again, are we not doing this? From Japanese business publication Asahi Shimbum:
Mitsui Engineering and Shipbuilding Co. plans to explore and extract methane hydrate, a potential source of domestic fuel for energy-poor Japan, in waters around the archipelago.
The company has already been developing offshore oilfields and will apply expertise to methane hydrate, which contains natural gas, and other resources such as rare metals, sources said.
“Given further technological innovations, development of oceanic resources will grow into an even larger business in 15 years,” Takao Tanaka, the company president, has said.
Fifteen years from now, this will be a bigger business.
I remember a friend of mine — a true blue conservative — buying a hybrid Ford Escape a few years after 9/11. His point was that the only reason radical, troublemaking, terrorism-sponsoring countries abroad had any leverage over the United States was because of our dependence on foreign oil. He didn’t want to send them any more money. Simple as that.
Imagine if the total cost of the War on Terror — Iraq, Afghanistan, you name it — had been spent drilling for domestic oil, developing our natural gas resources, figuring out how to do what Mitsui is doing above, and reducing (or eliminating) the crippling leverage our enemies abroad have over the price of energy.