Page added on September 18, 2009
…Even accounting for the recent discovery of deep sea oil reserves in the Gulf of Mexico, America controls only 3 percent of the world’s oil supply while we consume 25 percent of the oil produced every year. Making the assumption that fuel is going to be available and affordable whenever and wherever we need it leads to a fundamentally flawed strategy. It will neither be available nor affordable.
The growing divergence of supply and demand curves for global oil dictates ever-greater scarcity and ever increasing cost. By remaining dependent on oil the United States will continue to be entangled with unfriendly rulers and undemocratic nations
Economically, we are in the midst of a severe financial crisis, and our approach to energy is a key part of the problem. We are heavily dependent on a global petroleum market that is highly volatile. In 2008, we sent $386 billion overseas to pay for oil
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