NEW YORK (CNNMoney.com) — Lawmakers grilled executives from the world’s five largest publicly traded oil companies Tuesday, criticizing them for taking tax subsidies and not investing in renewable resources amid record prices for oil and gasoline.
“Iraq is a very wealthy country. Enormous oil reserves. They can finance, largely finance the reconstruction of their own country. And I have no doubt that they will.”
Richard Perle, chair, The Pentagon’s Defense Policy Board, July 11, 2002 Continue reading →
Dwindling foreign oil, rising prices at the gas pump and hype from politically well-connected U.S. agribusiness have combined to create a frenzied rush to convert food grains into ethanol fuel. The move is badly conceived and ill advised. Corporate spin and pork barrel legislation aside, here, by the numbers, are the scientific reasons why corn won’t provide our energy needs: STLtoday – Corn can’t save us
The administration and their friends have been leading us down the biofuel path for reasons that have nothing to do with energy independence. It’s time for Americans (and the rest of the world) to wake up and smell the Kool-Aid.