Steve Hanke Quotes

As long as the United States - and the world - gets its oil from the Middle East, we will be drawn into the endless crises that seem endemic to the region. American energy independence would not only liberate us, it would also drive down the worldwide price of oil.

The U.S. now imports over half of its oil supply from the Middle East. This dangerous dependence on foreign energy sources is an issue of national security.

If you ask the average person on the street about U.S. energy and U.S. oil in particular, our situation, most Americans would say, 'Oh, we're energy poor; we don't have enough oil; we don't have enough natural gas.'

If you want your energy bills to go up, you should support an ever greater dependence on foreign oil, because the rate of new discoveries is declining as demand in China and India is growing, and the price of oil and thus the price of coal will go sky high.

Bahrain lies at the epicenter of Gulf security and any violent upheaval in Bahrain would have enormous geopolitical consequences. Global economic stability depends on the uninterrupted export of crude oil from the Gulf to markets around the world - a job that historically has been assigned to the U.S. Fifth Fleet.

Disruption to the flow of oil through the Straits of Hormuz would threaten regional and global economic growth. Any attempt by Iran to close the Straits would be illegal and unsuccessful.

We will never again permit any foreign nation to have Uncle Sam over a barrel of oil.

India has reduced its dependence on Iranian oil. I know their refineries have stopped asking for orders to purchase Iranian oil.

Assuming that Iran could become the only oil producer unable to export its oil is a wrong assumption... The United States will never be able to cut Iran's oil revenues.

If Russia wants to use energy as a weapon against our friends and allies, let's use our resources to set them free.

If the world market believed that we were serious about energy independence and we were going to utilize all of our own existing resources, the speculators would stop speculating up they start speculating down as we get our own oil out of the ground.

States with tremendous oil and natural gas reserves have the most to gain economically from proper regulation.

From the 1920s into the 1940s, Britain's standard of living was supported by oil from Iran. British cars, trucks, and buses ran on cheap Iranian oil. Factories throughout Britain were fueled by oil from Iran. The Royal Navy, which projected British power all over the world, powered its ships with Iranian oil.

Mr. Speaker, high natural gas prices and the summer spike in gasoline prices serve as a stark reminder that the path to energy independence is a long and arduous one.

The day we run out of petrol is the day Iran will be free.

We have to be careful because if one day the world is short of energy, it will be our responsibility. Everybody will ask Total, 'Why don't you have more oil?'

Russia does not have a modern economy: it's a petro-power. The only thing it sells that the world wants to buy is oil and natural gas. When was the last time anyone bought a Russian computer? A Russian car? A Russian cell phone? Russia is so dependent on high energy prices that if oil falls below $100 a barrel, the Kremlin can't meet payroll.

The more we are consuming oil that either comes from places that are bent on our destruction or helping those who are... the more we are enabling those who are trying to kill us.

The price of crude oil accounts for 55 percent of the price of a gallon of gasoline, driven by global supply and demand. The United States depends on foreign sources of oil for 62 percent of our nation's supply. By 2010, this is projected to jump to 75 percent.

If people think we can draw a circle around North America and that we can be an independent island of energy, that's not realistic. This is a world market for oil, for refined products, and increasingly, for natural gas.

The U.S. policy of hoarding crude oil never made the world, or even the U.S., a safer place.

While there are many influences on gas prices in America, I believe the passage of a national energy bill will help relieve this burden on our country.

We have for too long put vast oil and natural gas reserves off limits to exploration and production, as The Washington Post editorial stated this week.

The war and terrorism in the Middle East, the crisis of leadership in many of the oil-supply countries in the developing world, the crisis of global warming - all these are very clearly tied to energy.

First, we have to find a common vocabulary for energy security. This notion has a radically different meaning for different people. For Americans it is a geopolitical question. For the Europeans right now it is very much focused on the dependence on imported natural gas.