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AWB

Last 5 posts by AWB

2 Responses to “Three ways to reduce the cost of oil”
  1. Terry McDonald says:

    Newt for President!

  2. Squarefinger says:

    And another approach from a guy in the energy business:

    http://online.wsj.com/article/SB121556087828237463.html

    Of particular interest is, “Each year we import more and more oil. In 1973, the year of the infamous oil embargo, the United States imported about 24% of our oil. In 1990, at the start of the first Gulf War, this had climbed to 42%. Today, we import almost 70% of our oil.”

    “The U.S. uses nearly a quarter of the world’s oil, with just 4% of the population and 3% of the world’s reserves. This year, we will spend almost $700 billion on imported oil, which is more than four times the annual cost of our current war in Iraq.”

    “In fact, if we don’t do anything about this problem, over the next 10 years we will spend around $10 trillion importing foreign oil. That is $10 trillion leaving the U.S. and going to foreign nations, making it what I certainly believe will be the single largest transfer of wealth in human history.”

    The first real “plan” I’ve seen in print that discusses a transition strategy and a portfolio approach to addressing energy needs. There is no switch that can be flipped to change one day, and sorry, but HOPE is not a strategy.

    He is also sporting a website (www.pickensplan.org) and is running TV commercials. Perhaps Gingrich, Pickens, and Mc Cain should hold an alternative energy summit.

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