Posted by
Bill Cherry on Sunday, July 13, 2008 12:17:55 AM
CNN and MSNBC are running commercials bought by and featuring 80-year old oil icon T. Boone Pickens. In less than a minute he tells viewers exactly what the oil crisis has cost the United States so far. And he reminds us that there is no end in site.
He's right on when he says that the problem isn't as much the cost of oil to the consumer, as it is that billions of U.S. dollars are leaving our economy to the nations were we are forced to buy our oil. Mr. Pickens says one new formula to quickly reduce our dependency is by creating energy through wind turbans, and that's the direction he plans to take his company.
Whether or not wind turbans will make a significant difference or not, I don't know. What I do know is that the majority of our economic problems have their genesis in our inability to produce at least the major portion of our energy. It is further complicated by the idiotic lending policies of several major financial institutions.
And American's have had more than enough of this mess. However, Congress and the administration don't seem to have gotten the message yet. They will in November. Mr. Pickens is a hero. Mr. Greenspan isn't.