Are We Slaves to Foreign Oil?

Are We Slaves to Foreign Oil?

by L. J. Martin

Not if you believe the Wall Street Journal.

In are article on Wednesday, Nov. 30, Liam Pleven and Russell Gold reported that the U.S. is a net exporter of petroleum products for the first time in 62 years, this according to the U.S. Energy Information Administration.

The U.S. imported huge quantities of crude oil and refined products from the Middle East, Europe, Latin America and elsewhere, and exported more.

Now I’m certainly not encouraging government interference in this picture, but how can we continue to kowtow to the Middle East, continue to allow them to think they have us “over  a barrel,” and, yes, that’s a pun, in regards for our “requirement” for their oil?  How can we continue to let OPEC destroy our economy?  I presume that this is the result of a booming international demand for refined products.

Still, it’s a troubling statistic.

Mexico, Brazil, the Netherlands, Singapore were significant importers of American petroleum products.

The good news?  The price of gasoline is going down here in the U.S.  The bad news?  I wonder how much of that fall in prices is a result of manipulation by the administration in anticipating next year’s election?

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