From 1% to 50% dependence on imports with record-level production of oil here?
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During the World War II era, America imported roughly one percent of its oil. Our nation’s domestic oil bounty sufficiently fueled our military prowess, and that of our allies, as it vanquished the enemies of freedom in two separate theaters.
While America’s military remains the envy of the world today, our energy security has weakened. America now imports 50% of its crude requirements and faces an oil dependence crisis that threatens both our national security and our economy.
Despite America’s record-level production of oil, which is pushing imports lower and should be encouraged and expanded, our transportation sector’s near-full reliance on this single fuel leaves our nation vulnerable to high and volatile prices. Annually, Americans sustain a direct transfer of wealth, in excess of $300 billion, to pay other nations for our oil dependence.