ERD50
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Originally Posted by clifp
I am simply saying that while you may be the 5%, for the other 95% if we cut our oil consumption in 1/2 to 10 million barrels a day (which would also mostly eliminate our dependence of foreign oil) that would be a good thing.
(Bold added)
I don't know why people think if we use less oil that the percentage of oil we purchase from overseas will decline. It won't (necessarily). We will (and should) continue to buy oil from overseas as long as it is cheaper than what we pull out of the ground here. General rule: "Energy independence" is a campaign slogan that makes no economic sense.
We can make a parallel to this, to explain it from another angle:
Instead of a reduction in consumption, an increase in domestic supply of oil would (according to clifp's premise) have the same effect in "eliminating our dependence on foreign oil". But, we can produce all the cars we need here in the US - GM Ford and Chrysler have plenty of empty plants and available workforce. But people still buy foreign cars.
Yes, partially because of perceived (or actual) quality differences in those cars, but probably mostly due to "value". So, as long as foreign oil is a better value than meeting our demands domestically (either through increased production of oil or alternative energy, reduced consumption, or both), we will choose to buy some foreign oil, whether we are dependent on it, or not.
And samclem makes a good point - cut our oil needs in half, and we will *still* buy that remaining half from wherever we can get it at the best value. And if we are buying less on the open market, the prices will drop (relatively), making it tough to pass up.
-ERD50