How to reduce dependancy on Foreign Oil

I watched a webcast this morning done by 80 year old T. Pickens. Mr. Pickens is an oil industry tycoon with around 60 years in the business. He is leading a plan to reduce our dependance on foriegn oil. Currently we are importing 70% of our oil...that means the cost of that is reducing our net worth as a nation at a rate of 700 billion dollars a year using $140 dollar a barrel prices. How long can we afford it?

http://wsw.com/webcast/pickens/