Exactly. The goal is to become energy independent and not buy energy producing fuel from another country. In fact, while we develop other forms of energy production, sell fossil fuel to other countries to start paying down our debt.
Yes, that is the goal. The pint of the article is that if America produces so much oil i doesn’t need to import any, then the glut on the world market will make oil $10 a barrel. Or less.
In a free market oil refineries would not buy American oil for more than it could buy foreign oil. This means that American oil drillers must be able to make a profit at $10 a barrel. Or less. Those workers cannot make good wages if oil is at $10 a barrel.
The only way the world oil price doesn’t go to $10 a barrel is if imports are banned unless American oil goes above $50 a barrel or something. This would amount to federal price supports for the American oil industry at the cost of the consumer.
I personally think that is fine. I can live with $3 gas if it means complete oil independence, even if the rest of the world has cheaper gas and enjoys the glut.
Don’t we import crude, refine it and send it to whomever?