US Thirst for Imported Oil A Serious Threat?

[wkmac]

Over a week ago on Fox News Sunday, Chris Wallace interviewed retired Marine Commandant PX Kelley and FedEx Chairman Fred S on America's dependency on foreign oil. In the interview Gen. Kelley explained that just a 4% drop in imported oil supplies would increase the cost of oil to over $100 per barrel. 4% is not a very huge amount indeed. Here is the transcript to that segment.

FOXNews.com - Transcript: Co-Chairmen of Energy Security Leadership Council on 'FNS' - FOX News Sunday | Chris Wallace

Now today the Washington Post is reporting that Iranian Oil production is in decline and that by 2015' Iranian oil profits will dry up which suggests in relation to other points in the article that output will also decline.

Iran Oil Revenue Quickly Drying Up, Analysis Says - washingtonpost.com

The article is discussing several issues here but the point I'm making refers to the 4% Import oil production drop Gen. Kelley spoke of in relation to the current and possible future Iranian situation in regards to oil output. This will be something to watch going forward at least IMO.

 

[retired]

This kind of scenario is one of the reasons that I think that the US (and UPS) should be making alternative energy sources a top priority.

By 2015 hybrid vehicles and better energy alternatives could have begun to loosen the strangle hold that oil has on our country.

 

[tieguy]

This kind of scenario is one of the reasons that I think that the US (and UPS) should be making alternative energy sources a top priority.

By 2015 hybrid vehicles and better energy alternatives could have begun to loosen the strangle hold that oil has on our country.

agree. ethanol it all. Then tell the middle east they can go pork theirselves.