Oil Quote of the week:"because it's a cartel maximizing its share"

This quote is as relevant as much as it is irrelevant... as it could of been pulled from headlines of the 70's or 80's

"By using more electricity, natural gas and biofuels in our transportation fleet, we can quickly reduce our dependence on OPEC."

How to End America's Addiction to Oil - Wall Street Journal: At the end of March, oil posted its fifth consecutive quarterly price increase: It's now solidly above $80 per barrel. If it reaches $125 a barrel again, as it did in 2008, then approximately half the wealth in the world—above and below ground—will be controlled by OPEC nations. 

Oil dominates transportation: About 95% of transportation fuel in the U.S. is derived from petroleum... But OPEC is pumping less than it did in the 1970s, despite a doubling in global demand, because it's a cartel maximizing its - WSJ

Haase Note: FAIL- In 1970, we imported 24% of our oil.