We’ve Found a Lot More Oil in the U.S. – Should We Rejoice or Worry?
Like so much else in the energy and environmental field, recent news about the discovery of “vast oil fields in the U.S.”, that could dramatically increase domestic oil production, is a mix of the good, the bad, and the ugly. Let’s go down the list:
Plus, the United States now imports about half of the oil we use. This new supply could, according to some projections, cut oil imports by half in the next decade. Cutting oil imports is one of the few policy goals that nearly everyone agrees on.
This big new find isn’t expected to help much on prices, and it will do almost nothing to change the long-term energy dilemma. No matter how