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Economics: Start oil flowing here
It wasnt that long ago it was stated owners of U.S. oil fields couldnt compete with OPEC when OPEC was selling their crude oil at the $25 to $28 a barrel. It was stated at that time we couldnt go below $31 a barrel. What about now with the oil prices at $55 to $60 or more a barrel? Doesnt it sound more reasonable to get our own fields producing crude oil to meet our demands?
The results would be more than two-fold. We could become more self-sufficient and less dependent on foreign oil. We wouldnt rely on OPECs pricing to drive our prices up to meet our supply and demand. We could set the prices ourselves, cut costs to the consumer, as well as cut down unemployment.
I dont think it necessary to open up the Alaska wilderness to search for new oil resources when we already have it available in the Texas and Oklahoma states.