The Conversation (0)
Fox Business analyzed the energy policy of USA.
Fox Business analyzed the energy policy of USA.
The market news is quoted as saying:
Why is this oil so close to home not as important as the oil in the former Soviet states? Without a pipeline through the US this oil will to go the west coast of Canada and end up elsewhere, most likely China.
If this oil goes across our country to our refineries, we essentially control it. I would take all the oil Canada and Mexico both have as a long-term strategy, until we can free ourselves from all imported oil. Oil prices may be tied to disruptions in Africa or the Middle East, but our oil supply would not be disrupted in an event in one of these places if we got it from places closer to home, especially from our own untapped reserves.
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