[Brilliant]

The biggie, though, is oil. We can make our own computers, autos, etc. We simply choose not to since we can buy them overseas for less.

But we've gotta buy our oil from the Saudis, at least until the American people demand that Congress permit more drilling, and that ain't gonna happen anytime soon.

[Paul Ross]

The biggie, though, is oil. We can make our own computers, autos, etc. We simply choose not to since we can buy them overseas for less.

Except...those computers and autos etc....were how we were formerly able to pay for the oil. We had a trade surplus in those same manufactured goods. Now we have blithely assumed that manufacturing is of no account... our creditworthiness will go the same way. As the combined deficits of energy and manufactures drain our capital.