The president spoke last night and Mac, Tom and I hid in the basement. Ok, that's more dramatic than it sounds. We were installing moulding and trying to get the kitchen drain hooked up (still need one more part).
From the recap news stories, I've found out that George W. proposed the U.S. reduce it's dependence on foreign oil by 75% by 2025. Now, the U.S. consumes about 20 million barrels of oil per day and about 12.3 million of that is imported (1). If those numbers stayed the same (which they won't), to reduce our oil imports by 75%, we need to conserve or find domestic sources for 9.2 million barrels per day or 3.4 billion barrels per year (the Arctic Refuge is estimated to contain a total of somewhere between 9 and 16 billion barrels but only ~3 billion that would be profitable to pump out, by the way (2))
Since the president doesn't seem to want to increase auto fuel efficiency (cars being our #1 use of oil by far; about 2/3 of everything we use (3)), that's a pretty tall order. Ya see, U.S. oil production peaked in 1970 and we have approximately 22 billion barrels of proven reserves to tap into (4). The only way to reduce the amount of foreign oil that we use is to reduce the total amount of oil that we use.
Exxon Mobil, which made a record breaking $25 billion in profits last year, isn't going to like that very much. To put that in perspective, let's compare ExxonMobil's profits to the gross domestic products (GDP, the sum of all the goods and services sold) of a few countries:
Cote d'Ivoire $ 24.8 billion in 2005, making it the 106th largest country by GDP
Zimbabwe $ 24.0 b.
Bolivia $ 23.6 b.
Qatar $ 22.5 b.
Panama $ 22.2 b.
Estonia $ 21.8 b. . . . and that's just profits. (5)
Should we talk about sales volume? Exxon moved $263.99 billion in product last year. (6) That's more than
Switzerland $ 262.1 billion, making it the 37th largest country by GDP,
Hong Kong $ 254.2 b. (yes, world financial markets calculate this separately from China),
Vietnam $ 251.8 b.,
Malaysia $ 248.0 b., and
Greece $ 242.8 b.. (5)
What's amazing is that, somehow, ExxonMobil can't find the money to just pay the $3 billion in punitive damages they were supposed to from the ExxonValdez oil spill 16 years ago (7). Perhaps the Exxon CEO should hear how you think he should cough it up and clean up his act.
Don't want to watch think about the math? Watch the flash file then: 
(1) Independent Petroleum Association of New Mexico
(2) SavetheArctic.com
(3) & (4) U.S. Department of Energy: Demand, Reserves
(5) CIA World Factbook
(6) Forbes Magazine
(7) Houston Chronicle
Editors note: This evening, someone informed me that the president was only talking about oil imports from the middle east or, maybe, unstable nations. That would give him some more leway. Apparently this many-million-barrel nuance was lost on the news outlets I examined today.