Oil addiction not just an American nightmare

RISING oil prices and an expanding global economy have put added pressure on the search for oil and gas across the globe.

In his state of the union address, US President George W Bush accepted Americans were addicted to oil and pledged to cut dependence on the black gold from the Middle East by 75% over the next 20 years. As if that will change anything other than the source of supply.

Currently, the US is guzzling its way through a massive portion of the globe’s natural resources and doing very little to curb its dependence on oil and gas.