Al Gore: ‘The Crisis Comes Ashore’

Al Gore on the gulf oil spill and the state of U.S. energy independence:

Starting 40 years ago, when America’s domestic oil production peaked, our dependence on foreign oil has steadily grown. We are now draining our economy of several hundred billion dollars a year in order to purchase foreign oil in a global market dominated by the huge reserves owned by sovereign states in the Persian Gulf. This enormous and increasing transfer of wealth contributes heavily to our trade and current-account deficits, and enriches regimes in the most unstable region of the world, helping to finance both terrorism and Iran’s relentless effort to build a nuclear arsenal.

★ Monday, 10 May 2010