“Energy independence” isn’t as important as having cheap energy. We can be independent and be paying high prices. Not so good. Free markets and free trade mean increased competition, better quality and lower prices. Protectionism just props up one favorite son and special snowflake on the backs of everyone else. It’s no different than a tax. It’s a terrible, anti-freedom policy.
Cheap oil results in bankrupt oil producers in the United States. Without oil drilling, there is no opportunity for energy independent.
As long as Saudi Arabia has the competitive cost advantage in drilling and producing, they will play boom and bust games with the domestic oil industry. As soon as they roll over the US domestic oil producers, they will once again control the price of oil and the price will shoot right back up. Investors will grow tired of getting into oil plays knowing that the Saudis will lower the boom again.
The solution is to put a $35 per barrel ‘floor’ on imports. That will enable domestic oil producers to stay in business and will still result in cheap products at the pump.
Protectionism was what the Founders of this country supported and fought for. Protectionism is not a dirty word. Protectionism is 100% American because it puts America and Americans first.