All Americans desire a “clean and sustainable energy future". But, this requires research, development and significant domestic investment. The increase in oil prices over the past year and perennially vacillating electricity and natural gas rates, are stark reminders of America's reliance on energy resources.
Sixty-six percent of the petroleum we use annually is imported. So much dependence on oil from foreign sources is irresponsible, particularly when there is instability in the Middle East, South America, and Africa. An increasing domestic demand also compels America to reduce its dependence on foreign energy sources. The Organization of the Petroleum Exporting Countries (OPEC) announced recently that it is cutting its daily oil production by a record two million barrels a day, starting in January. In such a situation, how can Americans believes that we can move out of the current energy crisis. The time is not far when our dependence on foreign regimes for our energy supplies may prove to be disastrous. We will face serious long-term shortage of energy.
As Obama (Lansing, MI on August 04, 2008) commenting on the energy crisis, rightly said that, "As Americans, we know the answers to these questions. We know that we cannot sustain a future powered by a fuel that is rapidly disappearing. Not when we purchase $700 million worth of oil every single day from some the world's most unstable and hostile nations - Middle Eastern regimes that will control nearly all of the world's oil by 2030."
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