U.S. energy independence? Don't hold your breath
Residential Heating Oil Release in Norton, Massachusetts by Massachusetts Dept. of Environmental Protection
License (according to Flickr): Attribution License
License (according to Flickr): Attribution License
(MoneyWatch) Gaining energy independence would be an enormous boon for the U.S. No other country could use a threat of cutting off supply as a geopolitical weapon, as OPEC did in the 1970s. A major contributor to the nation's trade imbalance would disappear, boosting the economy. Improved supply might even allow production to be focused on domestic needs first and not necessarily sent to such developing countries as China and India that are part of the global competition for energy sources. But while there has been considerable talk lately about rising U.S. oil and production, energy independence is likely to remain a case of wishful thinking for the foreseeable future. Technical limitations in drilling, along with a little common sense, further make the idea of energy freedom more a matter of conjecture than a practical goal.
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energy oil energy independence production U.S. Capital Economics consumption energy sources alternative energy sources oil consumption energy needs U.S. oil natural gas oil prices u.s. energy Gaining energy independence U.S. oil consumption U.S. energy production U.S. consumption demand total energy independence U.S. Energy Information lower energy needs little common sense research firm Capital traditional gas engine domestic consumption Oil production energy freedom consumption gap geopolitical weapon supply enormous boon gas production trade imbalance geopolitical hotspots percent domestic needs major contributor oil usage global competition local production Technical limitations considerable talk wishful thinking inventory hover domestic sources foreseeable future local sources record highs practical goalU.S. energy independence? Don't hold your breath
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U.S. energy independence? Don't hold your breath
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Even with domestic oil and natural gas production soaring, the U.S. is likely to remain dependent on foreign energy for years to come
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- energy
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