Higher prices and lost jobs is no problem, because we'll bounce back? LOL!
Yes, because energy procured locally would be immune to the speculation and price hikes that oil on the global market is subject to.
First of all, oil is priced globally, so even if we produced 80% of our oil here, we'd still pay the market price. Second, any oil we produce in ANWR or offshore has a higher production cost than oil in the Middle East.
Also, the hidden costs I mentioned (and you ignored) would no longer be a factor.
Great, you want to spend less on the military. Maybe you should make that recommendation on a new thread.
—even if we produced 80% of our oil here, we’d still pay the market price—
If we produced 80 percent of our oil here, we could uncouple domestic oil markets from global speculation. Thus, oil prices would be SOLELY determined by DOMESTIC supply and demand.
-Higher prices and lost jobs is no problem, because we’ll bounce back? LOL!—
I just showed you historical examples proving we would bounce back. You choose to ignore them.
—Great, you want to spend less on the military. Maybe you should make that recommendation on a new thread.—
With fewer defense responsibilities we could spend less and still have as good if not better defense than we do now.