Oil prices are not going down, they're going up. And if you don't have a car that can deal with that, you're dead.

It makes no sense to tax ethanol coming in from friendly countries like Brazil when we do not tax oil imported from countries like Saudi Arabia.

The president's initiative ties an oil savings target to a basket of energy solutions for homes and businesses, which have nothing to do with our oil problem.

Today there is a very thin layer of insulation in the oil market amounting to approximately one million barrels a day, meaning that every small disruption, be it a hurricane in the Gulf of Mexico or riots in Nigeria or instability in the Middle East, immediately creates a rise in prices. This situation will be with us for a long time because there is no new spare capacity. Building spare capacity requires an investment of billions of dollars to create infrastructure that may sit idle most of the time. Nobody will invest on those terms,

It's remarkable that we're not taxing fuel from Saudi Arabia while we're taxing fuel from Brazil.

They realize that when they blow up a pipeline in Iraq or in Sudan or anywhere in the world, this translates immediately into a price rise in all the markets. It is much easier for terrorists to blow up an oil facility or take out a tanker somewhere in the world than to infiltrate into the United States and blow up the World Trade Center,