Bush: US cannot be held hostage by oil

February 21, 2006 08:41

Saying the United States cannot be put in a situation where it is "held hostage" by foreign oil, President George W. Bush outlined his plan to make the US more energy independent. Less than half the crude oil used by refineries is produced in the United States, while 60 percent comes from foreign nations, Bush said during the first stop on a two-day trip to talk about energy. Some of these foreign suppliers have "unstable" governments that have fundamental differences with America, he said. "It creates a national security issue and we're held hostage for energy by foreign nations that may not like us," Bush said Monday. Bush is focusing on energy at a time when Americans are paying high power bills to heat their homes this winter and have only recently seen a decrease in gasoline prices.

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