Do Crashing Oil Prices Spell The End Of Our Energy Independence? | What’s Ahead

As the oil industry faces an unprecedented collapse, numerous producers are on the verge of bankruptcy. America’s hard-won energy independence is in jeopardy. In my latest installment of What’s Ahead, I discuss the urgent steps needed to avoid this calamity, including a suspension of federal and state taxes known as “royalties.” Importantly, that waiver can be done right now, because it doesn’t require congressional approval. Also, banks must make emergency loans that will be guaranteed by the Federal Reserve.