The notion that the United States is spending $700 billion on foreign oil is finding its way into Rush Limbaugh’s radio program, in comments on the Huffington Post, in the forum for devotees of Fountainhead author Ayn Rand, on Slate and, of course, youtube.

It is being used by those who support additional U.S. domestic oil drilling, on one hand, and by those who are critical of record oil company profits, on the other.

It’s safe to assume that, as gas prices and energy policy find their way into the presidential election debate between Democrat Barack Obama and Republican John McCain, the number will continue to find its way onto websites, into print and into conversation.

It appears it all started with T. Boone Pickens and his campaign, as a self-described lifelong oil man, to talk about alternative energy. In advertising on television and in print, Pickens has pointed out that the United States is ever more dependent on foreign oil. And that we send $700 billion offshore every year. He spells it out in his video at www.pickensplan.com.

complete this article at : $700 billion in oil imports? Hardly

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