Instead of sending $400 billion each year to countries such as Saudi Arabia and Venezuela, we could spend it on electric car production in the U.S., Mexico, and China. At current oil prices, it wouldn’t cost us a dime extra to stop importing and burning oil for passenger cars.
The numbers were generated by Philip Greenspun, an electrical engineering and computer science professor at MIT.
Instead of drilling off the coasts of California, Florida, and the Gulf states, wouldn’t it be more practical to do what Mr. Greenspun suggests? More on this tomorrow.