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The problem is not the oil, but what they do with the oil. The United States is the biggest spender of oil and of all the planet resources.

From 1859 to 1971, the U.S. oil industry grew virtually continuously, in the process serving mightily to drive our economy and win our wars. But that growth was stopped dead in 1971 and sent into decline thereafter, as the advent of the EPA and the accompanying National Environmental Policy Act made it increasingly difficult to drill.

Thousands upon thousands of people across America and many more across the globe are suffering at the hands of the oil and gas industry.

Over the last two decades, America has increased its demand for oil by nearly 30 percent, yet we have not expanded our ability to produce domestic sources of fuel.

Since 2006, we have surpassed Alaska, Oklahoma, Louisiana, and California in oil production to become the second largest oil-producing state in the nation, trailing only Texas. In 2012, North Dakota produced more than 245 million barrels of oil and provided nearly 11 percent of all U.S. output.

I do believe that oil production globally has peaked at 85 million barrels. And I've been very vocal about it. And what happens? The demand continues to rise. The only way you can possibly kill demand is with price. So the price of oil, gasoline, has to go up to kill the demand. Otherwise, keep the price down, the demand rises.

The oil areas have a big problem digesting the oil. There's too much money, and the people don't know what to do with it. I'm finding all the time that we have more industries and more success stories which are not involved with oil.

The country remains dependent on oil. But as we are now learning, oil is becoming increasingly scarce.

Right now too much American time and resources are spent dealing with situations caused by our dependence on oil that we import from unstable countries.

Our oil problems are only going to get worse. Our trade balance is only going to get worse. So we have to slow the growth of U.S. oil consumption, particularly imported oil consumption.