If America becomes 100% totally energy independent with our own supply of domestic oil.?

Will the price of Americas oil be fixed by the government?

Or will our domestic oil prices be influenced by market speculators?

What’s the sense of being energy independent, if oil speculators drive up the price of oil to lets say

$150.00 Per barrel. And Americans will have to pay $5.00 a gallon for gasoline.

9 Answers

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  • 8 years ago
    Best Answer

    We'll use everyone else's resources and bear whatever the market demands.

    When those resources are gone, we'll use ours.

    I hope you didn't want anything.

  • T.C
    Lv 4
    8 years ago

    We will never become independent on our own oil supply. One, because even if we had all of the US oil out of the ground, it would last the US for 15 years at our current rate(note that is just oil). Two, because it would take decades to find and get to oil supply, which doesn't help the current oil prices. Three, it isn't cost efficient for the US. It is easier to import oil from other countries rather than getting out own. The Government wouldn't fix the oil prices because the Republicans would filibuster the bills to make the Corporations as much money as they can.

    We need to invest in green energy. This would help the US get energy security, and it would create millions of jobs(building and sustaining the power plants).

  • Tamara
    Lv 4
    4 years ago

    No. At least not in the form of affordable liquid crude. If we don't care about the financial and environmental costs, (but we do) we have all of the coal and oil shales we would ever need. Buying affordable oil on the open market that is cheaper than we can extract our unconventional reserves makes economic and political sense. Developing efficiencies and alternatives is cheaper and easier than cutting off the tap. Besides, most of our imports come from Canada and Mexico, not the middle east. But it really does not matter too much where it comes from. Oil is a global commodity and we are the biggest customer.

  • Anonymous
    8 years ago

    the price for oil will be set by the market, and like everything else in a free market system it will be based on supply and demand. so the whole "foreign or domestic" argument is moot

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  • 8 years ago

    Irrelevant, that won't happen in the first place. Not with domestic oil anyway

  • 8 years ago

    No it will not nor should it be fixed by the government.

    Competition drives the market. The best quality product at the lowest possible cost.

  • Anonymous
    8 years ago

    all the US has to do is start the process of oil exploration on US soil and the price of arab oil will drop like a rock.....

  • 8 years ago

    American policy is to use the worlds resources first, American when there is none left

  • Anonymous
    8 years ago

    Why do you only look on the dark side?

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