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Thursday, February 2. 2006"America is addicted to oil"Posted by Joerg Wolf in International Economics on Thursday, February 2. 2006
At his State of the Union Address, President Bush promised "to replace more than 75 percent of our oil imports from the Middle East by 2025", because "America is addicted to oil, which is often imported from unstable parts of the world." Most experts and the NYT are skeptical:
President Richard M. Nixon promised in 1971 to make the United States self-sufficient in energy by 1980. President Jimmy Carter promised in 1979 that the nation would "never again use more foreign oil than we did in 1977." And Mr. Bush has called in each of his past four State of the Union addresses for a reduction in the dependence on foreign oil. Despite those promises in the past 35 years, United States dependence on oil imports is at a record level.The good news is that OPEC got concerned by the president's speech. The US imports most of its oil from Canada, Mexico and Saudi Arabia. The European Union, however, is much more dependent on Middle East oil than the US is. A longer piece on energy dependence will be published in the Atlantic Review in the next few weeks. (Help is appreciated.) President Bush also warned against the "false comfort of isolationism" and stressed his commitment to Iraq. Edit Copy has excellent press coverage of the State of the Union Address. Comments
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Brigitte
- #1 - 2006-02-02 16:13 - (Reply)
Oxford professor Timothy Garton Ash called Bush a member of the "Euroweenies club". What a difference four years and a bloody nose in Iraq make: Comments ()
joe
- #1.1 - 2006-02-03 03:28 - (Reply)
Ash confuses words with actions. His comment might have merit if they were written AFTER the french launched. Comments ()
Thomas
- #2 - 2006-02-03 15:00 - (Reply)
Empty promises... Comments ()
joe
- #2.1 - 2006-02-03 17:16 - (Reply)
Thomas, Comments ()
Thomas
- #3 - 2006-02-03 18:29 - (Reply)
Sure, Congress approves budget, but the Republicans have had the majority for a decade in Congress. Why don't they support their president? Comments ()
Thomas
- #4 - 2006-02-03 18:33 - (Reply)
The NYT is the most respected and most widely read newspaper in the US. Sure it is mainly read by Democrats and the intellectual wing of the Republicans. Comments ()
joe
- #4.1 - 2006-02-03 19:28 - (Reply)
Actually that is not true for the NYT. Comments ()
joe
- #4.2 - 2006-02-03 20:23 - (Reply)
Congressional Budget Office Comments ()
joe
- #5 - 2006-02-03 20:33 - (Reply)
Thomas, Comments ()
Brigitte
- #6 - 2006-02-03 21:23 - (Reply)
So the Energy secretary rejects the president's policy? Comments ()
joe
- #6.1 - 2006-02-04 05:10 - (Reply)
I would agree with you about sending money to the oil producing nations. I just hate that. I may never see it in my life time but at some point in the future once the world moves away from oil, these nations can go back to the way they were in the 1920’s. Comments ()
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