Reply #3: Blah,Blah,Blah,

[slaveplanet]

Hybrids won't do shit.
We are beholden to purchase oil from abroad,The Saudis are beholden to accept the FRN. We'll import from anyone who'll accept the FRN, All because of deals worked in the 80's by herr Kissinger. The pawning off of worthless federal reserve notes to foreign investors is the only thing keeping the US solvent.
We could have a lake of oil the size of Michigan and we'd still have to import at present rates.

Luckily the Saudi's just quintupled their estimates of known reserves.
So the crooks should be able to keep the presses smokin with all that paper.

http://tinyurl.com/2dn3c

Saudi Oil Is Secure and Plentiful, Say Officials

WASHINGTON, 29 April 2004 — Officials from Saudi Arabia’s oil industry and the international petroleum organizations shocked a gathering of foreign policy experts in Washington yesterday with an announcement that the Kingdom’s previous estimate of 261 billion barrels of recoverable petroleum has now more than tripled, to 1.2 trillion barrels.

Additionally, Saudi Arabia’s key oil and finance ministers assured the audience — which included US Federal Reserve Chairman Alan Greenspan — that the Kingdom has the capability to quickly double its oil output and sustain such a production surge for as long as 50 years.

“During times of turmoil, when the world has needed more crude oil, Saudi Arabia has worked without fanfare to promote stability in world markets,” Saudi Minister of Petroleum and Mineral Resources Ali Al-Naimi told the 300 attendees at a conference on US-Saudi energy relations co-sponsored by the US-Saudi Arabian Business Council and the Center for Strategic and International Studies.

“We have made a commitment to use our spare oil export capacity — even when it is stressful to our economic stability — in order to create a ‘cushion’ that maintains a balance in the global market,” he said.

“Saudi Arabia now has 1.2 trillion barrels of estimated reserve. This estimate is very conservative. Our analysis gives us reason to be very optimistic. We are continuing to discover new resources, and we are using new technologies to extract even more oil from existing reserves,” the minister said.