[sitetest]

Dear Hermann the Cherusker,

Well, if we were able to eliminate imported oil (and there's plenty of shale oil, and other stuff available, to do so), we would also reduce the trade deficit by a pretty number.

I think last year, the average price of oil was something like $40 per barrel. That's for 2004. At 12 million barrels per day of imported oil, that's about $175 billion.

It seems to me that a more stable energy supply, even purchased at a modestly higher price, could benefit the United States in more than one way.


sitetest

[Sax]

These guys think this discussion of the costs/benefits of shale oil development is a complete waste of time.

[Tallguy]

Well, if we were able to eliminate imported oil (and there's plenty of shale oil, and other stuff available, to do so), we would also reduce the trade deficit by a pretty number.

The cost of extracting oil is the concern of the oil company at present. The national trade deficit is the responsibility of the government. Unless we were to rearrange the economy by either going "protectionist" or alternatively nationalizing the oil industry there is no way to kill both of those birds with one stone.