Wait a minute! Peel off the layers and look at the underlying thermodynamics:

• In the USA, 1 Barrel of oil yields only 3-10 barrels.
  Yield per effort has declined dramatically since peak discovery years.
  [Beyond Oil, 1985]
• 1 Barrel of oil invested in Solar (PV) produces 10-40 or more barrels of oil equivalent.
• 1 Barrel of oil invested in wind energy produces 20-50 or more barrels of oil equivalent.

• If assumed as protection of 3 Billion barrels of imported oil, $87 Billion in Iraq is costing consumers $30/barrel. Doubles the price, but costs nothing at the pump.
• In many countries, governments subsidize fossil fuels and their derivatives. For example, in the Galapagos Islands, cost of electricity is 17¢, price is 8¢.
• Economics is an instrument of policy.