Just Politics

Running out of oil ?

T. Boone Pickens (the infamous oil man) believes the world is running out of oil according to his address to the 11th National Clean Cities conference:

"Let me tell you some facts the way I see it," he began. "Global oil (production) is 84 million barrels (a day). I don't believe you can get it any more than 84 million barrels. I don't care what (Saudi Crown Prince) Abdullah, (Russian Premier Vladimir) Putin or anybody else says about oil reserves or production. I think they are on decline in the biggest oil fields in the world today and I know what's it like once you turn the corner and start declining, it's a tread mill that you just can't keep up with.

"So, when you start adding the reserves in these countries, you're not even replacing what you're taking out.

Racicot to insurance

The American Insurance Association announced that former Chairman of the Republican National Committee Marc Racicot, 56, will take over as its next chief executive in August.

Racicot was Montana governor from 1993-2001. He served as chairman of the Bush/Cheney re-election campaign last year, and chaired the Republican National Committee in 2002-03.

Republicans raise $23 million

The National Republican Congressional Committee expects $14 million for House Republicans through a gala featuring President Bush, while the National Republican Senatorial Committee tally is $9 million.

At least 5,000 people are forking over $2,500 per ticket for the gala dinner at the Washington Convention Center tonight.