The petroDollar system breaking down, where oil is no longer paid for in Dollars internationally, essentially would be the death knell to the US Dollar as the reserve currency. It means the US can't borrow with 'exorbitant privilege' anymore, and it means the US Treasury market is set for an out-of-control interest rate spiral.
We used to be a source of fuel; we are increasingly becoming a sink. These supplies of foreign liquid fuel are no doubt vital to our industry, but our ever-increasing dependence upon them ought to arouse serious and timely reflection. The scientific utilisation, by liquefaction, pulverisation and other processes, or our vast and magnificent deposits of coal, constitutes a national object of prime importance.
I'm a bit of an alchemist sorceress. I've collected probably 1500 oils from around the planet over the last ten years. I'm kind of obsessed with the sensuality of it.
Today, as a result of a miraculous set of circumstances, Iran is going to get between $50 to $55 billion in oil revenue, which is unheard of in the history of the revolution.
In sectors like energy, I haven't been arguing for more spending per se; I've been arguing that it doesn't make sense for us to spend $4 billion subsidizing an oil industry that's mature and very profitable. We should be using that money to finance clean energy of the future.
To make a good salad is to be a brilliant diplomatist - the problem is entirely the same in both cases. To know exactly how much oil one must put with one's vinegar.
To ask whether the mainstream media has a conservative or liberal bias is like asking whether al-Qaida uses too much oil in their hummus. It's - I think they might use too much oil in their hummus - but it's the wrong question.
America is addicted to oil and increasing amounts of this oil comes from abroad. Some of the nations we depend on for oil have unstable governments or are hostile towards the United States.
Arab leaders worry more about making money from the profits they get from oil and gas that they turn the other way when Lebanon is being destroyed right next to them. Their neighbours are being murdered, but they only make calculations for their own benefit.