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Dependence
on oil creates national security issues. There's too many people who
have got oil that may not like us.
—George
W. Bush, 2007
The world oil market controls the price you pay for gas at your
neighborhood gas station. Taxes, gas station profits, and
oil-refinery profits also take their toll, but when you see the price
of gas go up twenty cents in one week, that’s the world oil
market in action. There’s no escaping it. Even if your gas
station sells gasoline made from 100 percent American oil, the price
will go up exactly the same amount. Even if you buy American corn
ethanol, the world oil market will hit you just as hard.
This spells bad news for the most popular path to energy
independence—alternative fuels. But there are two other paths
that the world oil market treats more kindly...
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