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Studies indicate that the United States imports half of the 6 billion barrels that it needs each year, at an annual rate of approximately $42 billion. It has been noted that as much as 50 percent of the nation's current trade deficit is due to this large-scale importation of oil.Because of this situation, it has been argued that the United States should make a greater effort to exploit domestic oil resources. Although there are many onshore sites for oil, the nation does not produce enough oil domestically to meet imports.
There are a few principal facts you won’t hear the proponents of offshore drilling talk about, but they should be front and center in the discussion of whether our state should support lifting the current moratorium on drilling for oil and natural gas off of our coast...
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