How Do We Kick the Oil Addiction? | Big Think
April 24, 2012
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Ethanol is not a solution.
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Peter G. Peterson:
Peter G. Peterson was an American entrepreneur, investment banker and politician. He served as United States Secretary of Commerce during the Nixon administration and was Chairman of the Council on Foreign Relations Council on Foreign Relations until his retirement in 2007. Peter co-founded the Blackstone Group, a private equity firm, in 1985 and retired in 2008 as its Senior Chairman. He authored of the book Running On Empty: How The Democratic and Republican Parties Are Bankrupting Our Future and What Americans Can Do About It. Peterson was Chairman of the Federal Reserve Bank Federal Reserve Bank of New York from 2000 to 2004 and is founding Chairman of the Peter G. Peterson Institute for International Economics. He passed away in 2018.
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TRANSCRIPT:
The fact that we consume 25% of the world’s own oil with less than five percent of the people and over four times the gasoline per capita than our European friends do. And now we’re in for a . . . in a fairly reckless way $300 and something billion dollars a year in oil, much of it from some of the most unsafe and unfriendly sources in the world; not to mention what we’re adding to our debt. Recorded On: 7/26/07
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