Default U.S. on Verge of Energy Breakthrough

[cheung31]

http://news.yahoo.com/s/ap/20060220/...wh/bush_energy

MILWAUKEE - Saying the nation is on the verge of technological breakthroughs that would "startle" most Americans, President Bush on Monday outlined his energy proposals to help wean the country off foreign oil.

Less than half the crude oil used by refineries is produced in the United States, while 60 percent comes from foreign nations, Bush said during the first stop on a two-day trip to talk about energy.

Some of these foreign suppliers have "unstable" governments that have fundamental differences with America, he said.

"It creates a national security issue and we're held hostage for energy by foreign nations that may not like us," Bush said.

Yeah, this "breakthrough" that "The Man" has been sitting on since probably the late 1970s.

MOD edit: Do not post the entire article.

[Flashpoint]

Hmm, I wonder if his plan is to power the nation with hot air?

While Bush is highlighting his budget proposals to help wean America from foreign oil, the lab he visited is meeting a $28 million shortfall by cutting its staff by 32 people, including eight researchers.

Worst president in US history? I submit that he is.

[Cowperson]

Jimmy Carter was far worse among recent USA Presidents.

Still, I wouldn't have voted for Bush . . . . although I've been vocal favouring the conflicts in Afghanistan and Iraq.

On the topic at hand, oil and gasoline prices, if I'm not mistaken, are still far cheaper on an inflation adjusted basis today than they were 30 years ago.

Because of that, there hasn't been the pressure we've seen recently to look at alternative fuels or sources, like nuclear power.

You're starting to see that momentum being restored . . . . . if I'm not mistaken, there are something like 100 nuclear power plants proposed, planned or under construction in the world right now and I think a company in the Netherlands just announced yesterday it wants to build the largest wind generation operation in the world.

Also, it hasn't helped that America hasn't built a new refinery in about 20 years, creating a choke point in supply.

People should also note that natural gas prices, I think, have fallen more than 50% in the last two months and that might be just as important a fuel source in North America as oil.

Keep an eye on that last factor . . . . it could be pretty important.

Cowperson