The U.S. Must Become Energy Independent

Reliance on Foreign Oil is a National Security Threat – We Can’t Become Energy Independent Soon Enough

The Arab oil embargo in 1973 was a wakeup call for America to become energy independent. Unfortunately, relatively little has been done since then. Today, 35 years later, the U.S. is more energy dependent on foreign oil than ever. We are paying some $2 billion/day on foreign oil. We can’t afford it…many individuals can’t afford the price of gas and as a nation, we can’t afford current gas prices. Our reliance on foreign oil is threatening our economic future. If the price of oil spikes higher, possibly to $200/barrel or higher, we will see much higher unemployment, an escalating national debt over already extreme levels, increasing inflation, a deep recession and an out-of-control balance of payments.