The economics of biofuels
US President Barack Obama is keen to tackle the related problems of America’s massive oil consumption and global climate change, but it was his predecessor, President George W. Bush, who called on the USA to tackle its addiction problem.
Abstract
US President Barack Obama is keen to tackle the related problems of America’s massive oil consumption and global climate change. But, it was his predecessor, President George W. Bush—a former oilman no less—who hit the nail on the head in his 2006 State of the Union Address: “Keeping America competitive requires affordable energy. And here we have a serious problem: America is addicted to oil, which is often imported from unstable parts of the world” (Bush, 2006). Bush called on the USA to tackle its addiction problem—two years before the American public were to suffer the shock of more-than-US$4-per-gallon petrol, and three years before the warning lights of a recession began flashing.