Saturday, February 26, 2011

As Gasoline Prices Rise - Time to bash Oil Companies

They have started -- the emails about boycotting the bad and greedy oil companies by not purchasing gasoline on a certain day or through other boycott ideas.

There has never been much love between the general population and Big Oil - and it certainly heats up anytime the price at the pump escalates.

The fact is that the U.S. needs a comprehensive Energy Plan that addresses all forms of Energy including fossil fuels (which will be the dominant form of Energy for many years) and alternative Energy sources.

Today, the U.S. consumes roughly 21 million barrel of oil today out of the 85MM barrels that are produced around the world daily. That is 25% of the World daily oil production by 4% of the World population - Houston we have a problem!

Since the U.S. produces roughly 9 million barrels of oil today - to meet our demand we must import 12 million barrels a day.... and we wonder why problems in the Middle East cause our gasoline prices to rise.

T. Boone Pickens has been outspoken about the U.S. need to develop an Energy Plan. You can learn more about his idea at Pickens Plan.

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