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Technology Stocks : Energy Conversion Devices

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From: brian h1/22/2006 3:40:48 PM
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I will support any future presidential candidate who has a clear US energy independent policy in mind.

bloomberg.com

McCain Says U.S. Can't Be Held Hostage to Venezuelan `Wackos'
Jan. 22 (Bloomberg) -- Senator John McCain, an Arizona Republican, said the U.S. needs to develop alternate energy suppliers to avoid being held hostage by ``Iranian mullahs'' and ``wackos in Venezuela.''

McCain, who ran against President George W. Bush for the Republican nomination in 2000, said on Fox News Sunday that the U.S. must ``get on a track to energy independence from foreign oil,'' including greater reliance on nuclear power.

``We better understand the vulnerabilities that our economy and our very lives have that when we're dependent on Iranian mullahs, and wackos in Venezuela,'' McCain said. He didn't refer to Venezuelan President Hugo Chavez by name.

The U.S. and Chavez have repeatedly sparred since the former paratrooper took office in February 1999, most recently on Jan. 19 when Chavez lashed out at U.S. opposition to his planned purchase of Spanish and Brazilian warplanes. Chavez as recently as Jan. 13 threatened to stop oil exports to the U.S. in the event of military aggression against his country.

Chavez also has said he wants to increase oil exports to China, lessening Venezuela's reliance on the U.S. market, which consumes for more than half of the South American country's oil exports.

Senator Richard Lugar, a Republican from Indiana, questioned Venezuela's dependability as an oil supplier in November 2004, recommending creation of contingency plans should shipments from the South American country be disrupted.

Venezuela is the world's fifth-largest oil supplier to the U.S. Iran is the Organization of Petroleum Exporting Countries's second-largest producer, while Venezuela is third.
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