This is almost exactly what T. Boone Pickens is saying. We have to start reversing this.

eeinvesting.com

The OPEC countries especially the Arab ones had a similar surge in the early 70's if you all recall. Then they disappeared after the oil shock simmered down and replaced by the Japanese in the 80's. Now Arabs have re-surged back on to the scene again. However this time, we are seeing some traction from Congress to develop our own energy. It is a blessing in disguise.

We need to get Suadi Arabia and Russia out of the picture on Oil dependancy, we are making our enemy prosper as the US weakens, THEY ARE BUILDING UP THEIR MILITARY TO USE AGAINST US!!!!!!!!!!.
Congress is more worried about getting Deomcrats in the White House than about our Nations needs now.
sign petetion for Drill Now on Newt G's webpage!

No doubt. As T. Boone Pickens says we sent $700bb overseas anually for oil. It doesnt take long for them to amass stockpiles of dollars.

Renewable energy is an essential and growing contributor to the energy portfolio of the U.S. It is not, however, a viable replacement for fossil fuels. Instead of dreaming of a fantastical world of windmills and golden beams of sunshine powering our energy intensive economy, the U.S. would be better served by realistic policies that incorporate a greater percentage of nuclear power combined with domestically produced fossil fuels as a means of achieving energy independence.

http://www.beyondthemargin.net/2008/06/alternative-energy-panacea-or-placebo.html

Check on the Kissinger deal where it was agreed that oil was to be bought from the Saudis in U.S. dollars only and they use some of that money to pay down U.S. debt. And ask why one of the biggest oil and Natural gas fields in Alaska,or the world is owned by the central bank and if the U.S. tries to recover that vast fortune in oil, it is a threat to National security.
Google search, The Kissinger Deal. If its true,it was a really rotten part in history,that is affecting us now..

this is actually great news for USA. This way the USA will continue to finance its spending ways, to finance its war of imperialistic conquest for a while still. What's actually interesting is WHY Saudi Arabia and Russia are doing this. They expect something in return Im sure but what it is? The Japanese banks are probably masked out and thats why they are not doing it. Since deficits don't matter according to Cheney, USA will continue to be the biggest creditor on the planet. the real question is how long will other countries be willing to finance the USA?

to Chuck Barlow: pro tip: using caps cruise control and lotto !!!!!!!!!! don't a good point make, bud. In the future try to restrain yourself from looking like a 10 yo. The only enemies are the ones you make ourselves by meddling in other countries' business. Stop doing that(as if you can) and you wont have any enemies. BTW, Why is the USA going to hold war games in Georgia? Can you answer THAT? As I said, stop meddling in other countries and provoking people and you wont have any enemies.

to Bill Lilley: Sure the Kissinger papers are true. Thats what Kissinger had to so to save the USA in the early 1970s after Nixon eliminated the gold standard. Otherwise the dollar woulda collapsed back then. Thats when the dollar became known as the petrodollar and saved its value. Remember what the USA did in 2003 when Saddam said he was gonna start selling the oil in Euros? That's right, invaded Iraq. We cannot have oil being sold in Euros, because oil being sold/bought for dollars is exactly what's keeping the dollar alive.

this is actually great news for USA. This way the USA will continue to finance its spending ways, to financy its war of imperialistic conquest for a while still. What's actually interesting is WHY Saudy Arabia and Rsssia are doign this. They expect something in return Im sure but what it is? Thwe Japanese banks are probably masked out and thats why they are not doing it. Since deficits dont matter accroding to Cheney, USA will continue to be the biggest creditor on the palent. the real question is how long will otehr contires be iwlling to financy the USA?


to Chuck Barlow: pro tip: using caps cruise control and lotto !!!!!!!!!! don't a good point make, bud. In the future try to restairn yourself from looking like a 10 yo. The only emenies are the ones you make ourselves by meddiling in other countrres' bussiness. Stop doing that(as if yuou can) and you wont have any enemies. BTW, Why is the USA going to hold war games in Georgia? Can you answer THAT? As I said, stop medding in other contries and provocintg people and you wont have any enimies.

to Bill Lilley: Sure the Kissinger papers are true. Thats what Kissinger had to so to save the USA in the early 1970s after Nixon eliminated the gold standard. Otherwise the dollar woulda collaped back then. Thats when the dollar became known as the petrodollar and saved its value. Remember what the USA did in 2003 when Saddam said he was gonna start seling the oil in Euros? That's right, invaded Iraq. We cannot have oil being sold in Eiros, because oil being sold/bought for dollars is exactly what's keeping the dollar alive.

Pickens that stock raider that many hard working blue collars lost their jobs so he could make a few more million.

The only reason he is spoatting is to save his financial tail.

Iran cut production, Chavez took over the oile companies there, Russia stuck it to Europe and USA has a moratorium.

We have (coal1000 yrs, oil 200 plus yrs) and we screw ourselves because we believe the lies of global warming. Can we drill our way out of it. Sure can since there are so many years yet that we can explore alternatives, such as Thorium, and Hydrogen.