One of Donald Trump's brightest policy statements in his acceptance speech at the Republican National Convention in Milwaukee on July 18 was: An ode to “liquid gold.” In other words, oil.

As part of his fight against inflation, Trump offered a bright spot: increasing energy production and lowering energy prices. “By reducing the cost of energy, we can also reduce the cost of transportation, manufacturing, and all of our household goods,” Trump declared.

He added: “We have far more liquid gold beneath our feet than any other country. We are a country with an opportunity to make enormous wealth in energy.”

surely. Energy Research Institute (IER) The total technically recoverable oil resources in the United States is 2.136 trillion barrels. Given the current price of about $80 per barrel, this is $171 trillion“We're going to eliminate $36 trillion of debt,” Trump concluded.

Former Alaska Governor Sarah Palin said, “Yes, that's true.” In Palin's Alaska, there's so much oil relative to the population that everyone gets a check from the state. $1,312For a family of four, that's over $5,000. Our goal is for every American to have such an energy dividend. (Related article: David Blackmon: President Trump's 1,000 words on energy)

Moreover, America's carbon fuel abundance is not limited to oil. International Energy AgencyWe have 3,391 billion cubic feet of natural gas in our country, valued at $165 trillion.

Granted, this huge amount of money doesn't count directly against the national debt, nor does it support future tax cuts, but every dollar of energy wealth contributes to the economy, and if we could give even 10% of this huge amount to the American people, we would actually pay off the national debt.

And thanks to hydraulic fracturing and other enhanced recovery techniques, more energy: Human ingenuity It overturned old ideas about energy scarcity and led to an almost Moore’s Law-like surge in production.

In fact, oil and gas (and coal) are so plentiful that emerging countries school They argue that carbon fuels aren't “fossil” but are the product of the Earth's volcanic activity — after all, the temperature at the Earth's core is the same as the surface of the Sun — so maybe all that heat is cooking something.

Either way, we continue to discover more and more oil. Not just in America.

So how exactly do we utilize the planet's abundant resources? As Palin said, as Trump said, and as the convention audience chanted, “Dig, dig, dig.”

So what about climate change? Most Republicans aren't too worried about it, but if Democrats are worried, they should be reassured that carbon can be captured and removed from the atmosphere. Trees and other green plants have been capturing carbon for hundreds of millions of years. In fact, carbon is essential to their very existence. Similarly, human bodies 18 percent carbonYes, ourselves too Carbon sink.

So if we act smartly, we can capture carbon from everything, from wood to cement, plastics to nanotubes. This can help reduce carbon emissions from landfills, construction materials and even Space elevator.

In fact, we can establish aa Circular Carbon Economy: Carbon fuels are extracted, burned, and recycled as raw materials. In this way, carbon fuels are renewable. This kind of creative thinking is Energy-hungry data centers Big Tech and AI depend on this. Hence the bipartisan “Grand Carbon Bargain” that pairs mostly blue state tech with mostly red state energy. More energy + more tech = increased wealth for everyone.

In Milwaukee, Trump talked about American “energy advantage,” which is great, but with all of the energy we can produce and consume, we can talk about economic abundance, which is even better.

James P. Pinkerton served in the White House Domestic Policy Office under Presidents Ronald Reagan and George H. W. Bush. He is the author of the recent book, “The Secret of Directional Investing: Making Money Amidst the Red-Blue Rumble.”

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