By Kevin Phillips
From America's preferable political analyst, an explosive exam of the axis of faith, politics, and borrowed funds that threatens to break the country In his newest manhattan instances bestselling books, American Dynasty and Wealth and Democracy, Kevin Phillips verified himself as a robust critic of the political and fiscal forces which are ruling-and imperiling-the usa. Now, Phillips takes an uncompromising view of the political coalition, led via radical faith, that's using the United States to the edge of catastrophe. From historic Rome to the British Empire, Phillips demonstrates that each global- dominating energy has been introduced down through a similar set of explanations: a deadly mix of worldwide over- succeed in, militant faith, source difficulties, and ballooning debt. it's this comparable axis of ills that has come to outline America's political and monetary identification long ago decade. army miscalculations within the center East, the surge of fundamentalist faith, the brilliant nationwide debt, the prices of U.S. oil dependence-together those components are undermining our nation's defense, solvency, and status on the planet. If left unchecked, a similar forces will deliver a debt- bloated, preachy, energy-starved the USA to its knees. With a watch at the prior and a searing imaginative and prescient of the longer term, Phillips has written a e-book that no American can come up with the money for to disregard. compliment for Kevin Phillips and American Dynasty: "[Phillips] is a deep philosopher extraordinaire, who does a masterful task of connecting the army- business dots. . . . A searing indictment of the Bush Dynasty." -Douglas Brinkley, mom Jones "Devastating . . . a massive, troubling publication that are supposed to be learn all over the place with care, nowhere extra so than during this city." -Jonathan Yardley, The Washington publish publication international
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Additional resources for American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century
So aVidly did New Englanders pursue whales for their prized oil that in 1775 the British statesman Edmund Burke saluted their pluck on the floor of Parliament: '~d pray, sir, what in the world is equal to it? No sea but what is vexed by their fisheries. No climate that is not witness to their toils. "28 The 1859 find in Pennsylvania, in turn, promoted the biggest oil boom since Spitsbergen, but few local residents were too surprised. Cartographers had been recording petroleum in Pennsylvania since Lewis Evans's 1755 map of the middle British colonies.
Some Washington policy makers looked for rescue to Canada, Mexico, and the North American Free Trade Agreement. Although rising oil prices made large-scale but high-cost extraction from Alberta's oil sands increasingly economic, getting more natural gas to the United States from Canada's Mackenzie Delta faced other obstacles. The pipeline needed cost $20 billion and was opposed by the Canadian provinces and aboriginal tribes whose lands would be crossed. 55 The larger dilemma is that North America doesn't have much of the world's natural-gas reserves-Asia, the Fuel and National Power 25 Middle East, and North Africa dominate-although the United States alone has been consuming 25 percent of the world's annual output.
Two thousand four was also the year that Royal Dutch! Shell acknowledged overstating its oil and gas reserves by 20 percent, bringing a major plunge in its share price. Bri[ish Petroleum had downgraded its production goals several times during 2002, said analys[S, because it couldn't find enough oil in its exis[ing fields. 41 To all the major oil companies, finding new production resources was a never-ending challenge. Jon Thompson, the presidem of ExxonMobil Explora[ion, wrote in a 2003 company publication, "We estimate that world oil and gas production from existing fields is declining at an average rate of abom 4 to 6 percem a year.