We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.
Although increased drilling has added new oil to the nation's supply, it has not done so fast enough to offset the terminal decline of existing fields.
We are going to have to import more of our oil. Period.
MonteQuest
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RUSSIA and China have bowed to pressure from the US and Europe to send Iran to the UN Security Council for possible sanctions over its nuclear program.
After months of resistance, the Russian and Chinese foreign ministers abandoned their softly-softly approach towards Tehran's nuclear ambitions at a late-night private dinner in London at the home of British Foreign Secretary Jack Straw.
