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Dependence on Foreign Oil

The statement “Reduce our Dependence on Foreign Oil” does not make economic sense.  Does this mean we stop burning up their oil and start burning up more of our oil?  I would rather keep our oil for future needs and burn theirs!  Oil is a finite asset.  We will need it far in the future for non fuel products alone.  The oil producing nations are accepting our paper money and reinvesting back in the U.S. by investing in our companies, real estate and Tresury bills, notes and bonds.

We now live in a global market place including ownership of businesses and other assets.  We buy goods and services form different countries’ inhabitants and they buy goods and services from us including natural resources.  In this global economy does it matter where we buy and sell?

Is it a National Security issue?  It would be if we were not in a globalized economy and could produce enough oil to cover all our fuel and non fuel needs.  This is a near impossibility and even if it were not, our allies in Europe and Japan need this oil to.  Therefore, the Middle East will be a National Security issue for at least the rest of the century.  We do have the emergency reserve of oil for short term interruptions in the supply lines.

Then we bring in the environmental factors of burning to much oil up as a fuel source.  Therefore, the statement should read “REDUCE OUR DEPENDENCE ON FOSSIL FUELS”!!!


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