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Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

US Energy Independence Reality Check

Peter Tertzakian (author of A Thousand Barrels a Second) floats some presidential quotes in his latest column. I'm hearing The Who's Won't Get Fooled Again in my head (over and over and over...).


At the end of this decade, in 1980, the United States will not be dependent on any other country for the energy we need to provide our jobs, to heat our homes, and to keep our transportation moving. Richard Nixon-1974


I am tonight setting a clear goal for the energy policy of the United States. Beginning this moment, this nation will never use more foreign oil than we did in 1977 – never. Jimmy Carter-1979


It will be the policy of my administration to reverse our dependence on foreign oil while building a new energy economy that will create millions of jobs. Barrack Obama-2009


Tertzakian writes...When Carter left office in 1982 the United States consumed about 15 MMB/d, 28% of which was imported from foreign sources. By the time Obama assumed his watch over the nation, foreign oil dependency was 65% on around 20 MMB/d of consumption.