(Readers: The blog centers around the author’s prediction that the US will experience a 5th revolution by 2020-2025. Some early vignettes precede the revolution; later vignettes follow the revolution. Many characters appear regularly. More about the blog and the author.)
(Background for this series of entries. Earlier POTUS asked Jordan for ideas how to convince politicians and the public that it would be a good idea to fund rebuilding US infrastructure by fixing the price for gas and diesel fuel. Original conversation with POTUS Entries #104, #105.)
Scene: Jordan’s office. Receives call from POTUS.
Jordan: “Hello, Mr. President. Nice to hear from you.”
POTUS: “Jordan, I called to thank you for all the help getting Congress to support the idea of funding rebuilding infrastructure with a fixed fuel price. That was quite an achievement.”
Jordan: “I didn’t really do anything.”
POTUS: “You might not think so but I do. The key was support from the oil-and-gas industry executives. When they bought into the idea, Congressional Republicans had no reason to resist.”
Jordan: “Pleased I could help. What else is on your mind?”
POTUS: “Jordan, so cynical. Why would you think I called about something else?”
Jordan: “Why? Because you are not bashful about asking. And I appreciate being asked.”
POTUS: “Well, since you are so eager, I do have another request.”
Jordan: “Why do I volunteer like this? What do you need help with?”
POTUS: “Need you to be on call for the group putting together the details how to implement the fixed price for fuel plan. The concept is easy to understand but there are some sticky details. And we’re going to need some rules.”
J
ordan: “You’re not suggesting some companies might try to game the system?”
POTUS: “Of course not (laughing). But we really need some clear rules for a couple of areas.”
Jordan: “Such as?”
POTUS: “For starters we need to agree on the maximum fuel price. If the retail price is $5.00, do we set the maximum portion for fuel price at say $3.00? And how do we adjust that price over time?”
Jordan: “What about source of the fuel?”
P
OTUS: “We need to have a high percentage of fuel from domestic sources. One of the benefits of the plan is to increase availability of domestically produced fuel. But how much is enough?”
Jordan: “What about some protection of the environment while encouraging domestic production? Republicans are going to push for drilling in the Arctic National Wildlife Refuge. How will sensitive environmental areas be protected?”
POTUS: “You’re getting the picture why I want you to be on call. You have a more balanced perspective on these issues.”
Jordan: “Alright, I’ll make myself available.”
POTUS: “Good.”
Jordan: “Here’s a thought. One way to make encourage domestic production and avoid environmental areas is to offer a tax incentive to extract more oil from existing fields rather than drilling new.”
POTUS: “I forgot you were involved with an oil-and-gas company. You must be an expert.”
Jordan: “My knowledge might fill a couple of thimbles, which qualifies me as dangerous.”
POTUS: “Welcome to Washington. Many of the so-called experts here don’t have enough knowledge to one thimble, let alone two. You think the incentives would work.”
Jordan: “Yes. For example, I know that mapping technology – think GPS but underground rather than satellites – and integration of certain software programs can point out many untapped reservoirs, or reservoirs that have lots of oil and gas left behind.”
POTUS: “How much do you think?”
Jordan: “I’ve heard the geologists and petrophysicists claim that in the US alone at least 70% of the oil and gas remains untapped…and it might be as high as 90%.”
POTUS: “That’s the kind of data we need to counter the argument about drilling in ANWR and other sensitive areas.”
Jordan: “I can get these geologists and petrophysicists guys to testify before Congress if necessary.”
POTUS: “That would be great. By the way, what’s a petrophysicist do? I’ve never heard that term before.”
Jordan: “Neither had I. It’s the guy who analyzes the rock formation for how much and how fast the oil or gas will flow…and a bunch of other stuff.”
POTUS: “Doesn’t a geologist do that?”
Jordan: “At a macro level. But the petrophysicist works with the driller…at least the good ones do. Think of economics. The geologist is more like macroeconomics. The petrophysicist is more like microeconomics.”
POTUS: “That helps a little bit.”
Jordan: “Don’t feel bad. I had no idea what a petrophysicist did. Then I found a segment on YouTube based on a book titled “Petrophysics for Dummies.” I watched it and, as they say, now I are an expert.”
POTUS: “I might watch it, sometime…after I’m out of this place. Jordan, thanks again for the help. I’ll let the implementation team know you are available.”
Jordan: “You’re welcome, Mr. President. Call any time.”
