Oil change.

• Author: Lynch, Michael W.
• Position: Data - United States oil consumption - Brief Article - Statistical Data Included

As the media exposed our Saudi Arabian allies as double-dealing despots, attention has turned to the practical: Can the United States live without Saudi oil, which, at 1.6 million barrels a day, accounts for 14 percent of our imports? The answers are mixed. The Wall Street Journal's Susan Lee says we can, since other countries will simply sell more oil. Newsweek reached a similar conclusion. On the otherhand, writing in The Weekly Standard, Hudson Institute economist Irwin Stelzer says "not a chance"--at least not for many years.

The most useless contribution came from The New York Times' Paul Krugman, who said that "intelligent policies could break" the oil price surge-and-bust cycle. His only concrete suggestion: increase mileage standards on SUVs to those of cars. Unfortunately for Krugman, Stelzer disposed of this hoary idea, pointing out that even a 25 percent increase in mileage...