[kellynla]

There are just so many inaccuracies in this piece, I just don't have the time to address them all.

But one that stands out is "When we trade dollars to foreigners for oil, they have to do something with those dollars." Yes, John, many of those countries that we purchase oil from use the proceeds to purchase arms to kill American Soldiers, Sailors, Airmen & Marines!

Sheesh...Stossel get a grip!

We're paying for the WOT on BOTH ENDS!

[kellynla]

ping

[DManA]

He’s absolutely right on all counts.

[steve-b]

Precisely. National security always distorts the free market to some degree (if only because the government needs to collect taxes in order to pay for it), but is nevertheless essential.

A bit of economic distortion calculated to (in the short run) reduce the revenue to hostile regimes and (in the long run) replace oil-based fuels altogether so that these regimes would have their air supply choked off is definitely the lesser of the two available evils.

[kabar]

Most of the money goes to Canada and Mexico. What about the huge trade deficit with China, which in turn, invests much of it into US T-bills? Stossel gets it.

[babble-on]

If you add the military budget to protect ourselves from states with oil (Russia, Iraq, Iran, Vennie and so on) to the price of oil, suddenly solar power starts looking a little more attractive.

[Petronski]

He is absolutely correct.

I didn’t know anyone in the media actually understood this fact. It seems there’s at least one.

[xjcsa]

Stossel is absolutely right. Look up the word “fungible” and get back to us.

[Mad Dawgg]

First tell us all WHERE (what countries) we get our oil from.

[GreenAccord]

I suggest a read of the book Gusher of Lies. It is not a Pro-Bush screed or anti-much-of-anything read about how energy independence has been promised by EVERY President since Nixon (all of whom, curiously, had a 10 year goal). Yet, here we are, 35 years later and every bit as dependent as that day. (actually more so)

In short, the bumper sticker-sized synopsis is; The US cannot support it's global leading GNP with the energy we have at our disposal within our borders, and the global economy wouldn't allow for it.

Also, the author spends a lot of time blaming the Jews,....errr, I mean Neocons.