Brightness, I don't disagree, but what about us? We have made ourselves economically dependent upon "cheap" oil. We worry when oil goes up $10 per barrel. What adjustments and dislocations would result if we have $4-5 per gallon gasoline?
I'm really asking this rhetorically, to illustrate the point of "co-dependence". We have done little to alleviate our dependence on foreign oil, Saudi or otherwise, and we pay a political price for that.