The price of oil has gotten so high, and will get much, much higher, there is becoming a realization in America for a push to develop ethanol QUICKY. I dare say America is willing to spend ten percent more in taxes across the board than to continue to rely on expensive sources for oil. A future policy is being developed in America to develop alternative sources of fuel, and not buying any more oil from foreign sources, i.e., energy independence. I have heard to let the oil producing nations drown in their own oil. In ten or so years, the cry to intervene in the Persian Gulf or Venezuela for cheap oil will be non-existant. OPEC has let the price rise too much, a new energy policy is coming. Otherwise, America ceases to be a major power.
When oil was cheap we were willing to buy oil from abroad. Unfortunately, oil is no longer cheap. Why pay $140 a barrel, when we can produce ethanol for less? It would not surprise me that our next president, who isn't an oil man, will cry for a ten year goal, maybe less, for complete energy independence from oil. In the last five years the price of oil has more than tripled. Bye, bye oil.