[ Wall Street Journal] T. Boone Pickens - In 1973, the U.S. imported 24% of its oil. 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. If we don't do anything about this problem, over the next 10 years we will transfer $10 trillion to foreign nations.
2008-07-10 01:00:00Full ArticleBACK Visit the Daily Alert Archive