The problem is not the oil, but what they do with the oil. The United States is the biggest spender of oil and of all the planet resources.
Sentiment: NEGATIVE
The oil areas have a big problem digesting the oil. There's too much money, and the people don't know what to do with it. I'm finding all the time that we have more industries and more success stories which are not involved with oil.
Our oil problems are only going to get worse. Our trade balance is only going to get worse. So we have to slow the growth of U.S. oil consumption, particularly imported oil consumption.
Right now too much American time and resources are spent dealing with situations caused by our dependence on oil that we import from unstable countries.
The one thing people seem to forget is the more oil we have, the lower the price and the lower the profits the oil companies make.
The U.S. now imports over half of its oil supply from the Middle East. This dangerous dependence on foreign energy sources is an issue of national security.
We have to get the oil where the oil is.
Despite spending trillions of dollars and spilling the blood of thousands of Americans, we remain in servitude to Arab oil.
Well, for starters, we have to do more to create demand for new technologies that can reduce our dependence on foreign oil and environmental degradation.
The people of the United States don't recognize it, but the oil industry has given the greatest gift to the people of the nation, and that gift is the low cost of energy. Bottom line is this enables the country to be very competitive manufacturing-wise and in the world economy.
We need to break our dependency on foreign sources of oil, which leaves us at the mercy of foreign powers. To do that, we should increase domestic energy production.
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