There are a lot of very good reasons for the US to begin drilling for the oil that is located in the US. Some of those reasons directly affect our national defense. At the very least, they include:
1. Transition to a net energy exporter from importer. Help balance of payments.
2. Remove the threat of cutting off energy supplies by foreign entities.
3. Creation of jobs in drilling/manufacturing/processing/transport
4. Realization of wealth creation where only potential exists now: Lease holders, stock holders in oil/transport/etc.
As a nation, there is as much profit for us in higher prices as there is cost at the gas station. We do not have the capability to drive prices down against the tidal forces of global demand—both China and India are now manufacturing automobiles—there’s lots of new demand. For those who worry about global warming, we will adjust by more efficient driving patterns, and using less fuel doing so—this makes sense efficiency wise, even if you don’t (as I don’t) think global warming is a valid issue.
