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By the way I'm not for scrapping the idea of free trade or NAFTA. Just that energy independence is getting trotted around by some of the same people who espouse free trade and I don't think they go together unless you get some kind of miracle technology (possible), or the oil starts running dry (inevitable but not for at least a decade).
In reality I think energy independence would either require some form of subsidy or tariff or something of that nature. And it would put us at a disadvantage globally. Though of course a miracle fuel cell breakthrough would be nice. |
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You are entirely correct. However, bringing domestic production of oil up would give us the ability to be energy independent if we absolutely had to be. The reason why people in the US want to be energy independent is partly because they don't want the Arabic countries have control over our economy in the case of conflict. Economic power is very real. If we started to bring domestic production online, it would be an option to go on to if we ever absolutely had to be energy independent. No one simply wants America to be energy independent no matter the cost. We do however, want that option to be available.
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Protectionism kills economies. Maybe not always. Mercantilism had its times. But in today's economy, protectionism is suicide.
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