Is the problem a Big Oil conspiracy, Chinas growth or refineries?
A. The problem is dual. One is dramatically increased demand coupled with OPEC’s ability to control prices. In the past, OPEC, and I used to have meetings with the Venezuelan minister and I would encourage OPEC to increase production, which would lower prices in the U.S. The demand is so strong and OPEC’s capacity to produce has decreased so dramatically, so that’s one reason. Increased demand from China and India, coupled with OPEC’s inability to control production and prices basically indicates these prices are here to stay. The second reason why in America prices are so high is our over-reliance on foreign oil. The fact that we are not energy independent. The fact that 65 percent of our oil imports come from overseas, a good percentage from unstable sources in the Middle East and the Persian Gulf, like Iran, like Iraq, [and others] like Nigeria, Venezuela. The biggest challenge, and I believe the biggest major national security policy facing America, is the need to become energy ind
