Immense deposits of kimmeridge clay, containing the oil-bearing bands or seams, stretch across England from Dorsetshire to Lincolnshire. [An early political recognition of the native resource. The Geological Survey had identified the inflammable oil shale in reports since at least 1888.]
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.
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.
We've subsidized oil companies for a century. That's long enough. It's time to end the taxpayer giveaways to an industry that rarely has been more profitable, and double-down on a clean energy industry that never has been more promising. Pass clean energy tax credits. Create these jobs.
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.