The looming economic crises caused by the massive jump in oil prices must certainly be classified a national emergency. But there is an easy way to avoid that -- as long as our leaders ignore the oil lobbyists.
Obama should seize this moment by establishing our own National Oil Trust. It could be modeled after our experience with the TVA and that of the world's third largest energy exporter, Norway's National Oil Trust.
A multiplicity of factors are in play that for the first time will begin to end the oil cabal's long and painful hegemony over our lives.