Although the Democratic and Republican energy plans differ widely, their underlying rationale is the same. In 2003, the United States consumed some twenty million barrels of oil a day, of which slightly more than half was imported from abroad, much of it from the Persian Gulf. By 2020, according to the Department of Energy, domestic oil producers will be meeting less than a third of United States needs, and the Gulf countries will be supplying up to two-thirds of the world?s oil. ?This imbalance, if allowed to continue, will inevitably undermine our economy, our standard of living, and our national security,? the Bush Administration?s National Energy Policy Development Group warned in a May, 2001, report. ?But it is not beyond our power to correct. America leads the world in scientific achievement, technical skill, and entrepreneurial drive. Within our country are abundant natural resources, unrivaled technology, and unlimited human creativity. With forward-looking leadership and sensible policies, we can meet our future energy demands and promote energy conservation, and do so in environmentally responsible ways that set a standard for the world.?
via Ed Cone 
Read Daniel Yergin’s The Prize for an excellent “panoramic history of oil”.