US Importing One Million Fewer Barrels Of Oil Daily


Nearly one year ago President Obama promised to remove America’s dependence on foreign oil and that plan according to a newly released governmental report is coming to fruition.

According to Politico the plan which includes cutting oil imports by a third over the next decade, boosting domestic oil and natural gas production, and promoting clean energy has been so successful that the US is now only importing 45% of its petroleum needs, down from 57% in 2008. Overall the US is importing one million fewer barrels of oil each day.

In the meantime US crude oil production is at its highest levels since 2003.

The increase in domestic production is a major selling point of the Obama Administrations plan, production that Republicans claim only began because of George W. Bush’s policies which Obama has “put the brakes on” over the last three years.

That same report also shows doubled domestic clean energy capacity since 2008 along with tougher efficiency requirements for vehicle fuel standards.

In the report titled “The Blueprint for a Secure Energy Future,” the Obama administration is quick to point out that rising fuel prices are a necessary evil when attempting to create a US based oil industry that is sustainable over the long-term. According to the report:

“We’re experiencing yet another painful reminder of why developing new American energy is so critical to our future. We know that there are no quick fixes to this challenge.”

It should be noted that the cost of oil has also risen partly because several US refineries have recently closed along with uncertainty over Iran where much of the world’s oil is procured.

Do you think higher gas prices are needed in the short term to ensure that the United States doesn’t hand all of its money over to often unstable foreign countries?

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