U.S. cannot drill, frack and pump its way to oil independence
November 30, 2022
The United States can become energy independent. We can develop an energy infrastructure with stable prices low enough to support a modern, growing society.
Although much of the discussion about energy independence revolves around increasing U.S. oil production, doing so is not sufficient to achieve America's energy independence goals. Increased domestic oil production cannot result in long-term low, stable oil prices.
American production cannot stabilize oil prices, no matter how much oil the U.S. produces. Oil is a global commodity. Its price reacts to supply and demand elsewhere, in th...