Coal or Natural Gas?

- March 19th, 2010 reported on Coal or Natural Gas? reported on Coal or Natural Gas?

The U.S. uses a lot of oil. With only 5% of the world’s population, the U.S. consumes 25% of total worldwide oil production. In 2009, America sent $265 billion overseas for oil. In 2008 oil nearly hit $150/barrel and gasoline was over $4.50/gallon in many parts of the country. The U.S. foreign oil bill in 2008 was a gargantuan $465 billion. America obviously has an oil crisis. Combined with fiscal and monetary mismanagement by the Federal Reserve and a dysfunctional Congress, the oil crisis has led to a severe economic crisis, a jobs crisis, and a country that has saddled future generations of Americans with a horrendous debt load.

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