Would removing all limits on oil production make the U.S. energy independent?
November 23, 2022
Removing all limits on U.S. oil production will reduce oil prices, if other countries do not reduce their supplies to match our increased supplies.
Is that energy independence?
Energy independence in the United States offers three possibilities for us: low energy prices, stable energy prices and energy prices unaffected by the actions of foreign governments.
How did energy independence become important?
The price of oil was $3.38 a barrel in October 1973. Then, OPEC, the Organization of Petroleum Exporting Countries, withheld supply, both to make more money for its members and to achiev...