Greenspan: "We Are Not Going To Have Oil Independence Again"

[kpete]

Greenspan: US Has No Control Over Oil Prices..."We Are Not Going To Have Oil Independence Again"...
Washington Times | Patrice Hill | June 8, 2006

Former Federal Reserve Chairman Alan Greenspan yesterday said the United States has no control over oil prices, which are now in the hands of big state-owned oil companies, and it will not have energy independence any time soon unless it produces technological breakthroughs on ethanol or alternative fuels.

Today's high gasoline prices rankle consumers and stir up political passions, but are not having a big impact on the economy because of the flexibility brought about by open international markets that have been financing U.S. purchases of foreign oil and gas, he testified before the Senate Foreign Relations Committee in his first congressional appearance since retiring from the Fed Jan. 31.

http://www.huffingtonpost.com/2006/06/08/greenspan-us-has-no-cont_n_22499.html

[The2ndWheel]

1. Way to be on the ball Al

The problem is a bit bigger than just being independent or dependent, but...good job anyway!

[papau]

2. The game is ENERGY independence - perhaps the GOP finally

understands it is not all about oil.

[Gman]

3. Why does Greenspan hate America??

He probably is against drilling in the ANWR.

[oneold1-4u]

4. Waste is cheap

"Energy is only lost through waste!"
The US consumer and industry "dumps and destroys" more energy in the forms of animal and plant oils and fiber daily, than all the oil refined into gasoline in the country.
Consider the "simple"! A candle will boil water and turn a small turbine with its heat. A candle is only animal and plant.
Undesirable plants, alone, cost the consumers of the US millions of $s to get rid of them and they still multiply fast enough to keep a large petroleum company in business! What a double waste!
As for waste; all human and animal waste is a huge source of methane as is all living products of this earth in the state of composting. (rotting)

[lectrobyte]

5. O MY GOD! SOYLENT UNLEADED... IS... PEOPLE!

[RB TexLa]

6. When did anyone think we would?

:shrug:

[hunter]

7. I've also heard the earth is a big round ball.

It is very disturbing that Greenspan felt he needed to explain this to the Senate Foreign Relations Committee.