More oil dependent than ever

Here's an interesting chart from the Milken Institute's Global Conference that shows the increasing percentages of oil coming in from foreign sources. Ted Turner and T. Boone Pickens discussed the energy problem in a session moderated by Michael Milken (here's the link) on Monday. They both pushed for federal legislation that would stress cleaner, greener domestically produced energy (Pickens was pushing natural gas). As usual, Turner was all over the place, at one point taking a couple of shots at Time Warner, which unceremoniously pushed him aside. On energy he said:

Not only do I like wind and solar because they're free and not depletable, I want to see us do more work in geothermal too. This is where the big money is going to be made. If we don't do it, China and the eastern countries are going to do it. We need to be the leaders in clean, renewable energy. All we have to do is pass a law in Washington. One of the things that law need to do is stop subsidizing coal and oil. You're subsidizing the wrong things.