With all the controversy flying around the subject of gasoline prices, energy policy and energy independence it is worthwhile remembering some basic facts:
1. The US imports very little of its oil from the Middle East so supply problems there do not directly affect the US. Likewise tthe scare story about giving money to our enemy, i.e. militant Islamists, is overblown.
2. Saudi Arabia has enough proven oil reserves that can be produced at less than $10 a barrel to supply the entire world’s needs for the next 100 years. In global terms we are hardly short of supply.
3. Most of our transportation requires portable fuel and so far nothing has come close to replacing the gas tank for doing this efficiently and economically. Electric power would be much preferable but getting it to moving vehicles and planes is difficult. Even most of our trains operate on diesel fuel.
4. There is no reason to use oil for our heating and electric power generation and this is being replaced.
5. “Big oil” companies do not see themselves as “oil” companies but as “energy” companies and they lead research and development in practically all alternative energy sources.
I trust these facts will help to understand the issue befter.