Our prices would skyrocket do to our limited production and refining capacity and the rest of the worlds prices would take a dramatic drop due to a glut of oil. Economics 101, The democrats would love it because the rest of the world would love us because we helped lower their prices for oil while we destroyed the american free-market economy.What would happen if the U.S. would stop buying oil from foreign countries???
The price on USA would skyrocket and those countries would sell it to China or use it for themselves, USA is not so important anymore, that麓s why everybody is pissing on USA, for example on US former bak yard ,Hugo Chavez and Evo Morales are pissing on USA daily.USA is losing ground on all aspects of economy and this is just the beggining as US dollar is not an international currency anymore ( its just a painted paper with no value) , this will fuel a gargantuan hyperinflation is USA, those dollars will return to USA as nobody will use it as a saving anymore.
Those dollars used abroad were usefull for usa to export her inflation ( most of that dollars never returned to USA).
This is a change of epoch,USA will never recover from this crisis, its another sign of the agony of Capitalism.
All the gas guzzling vehicle owners (Expeditions, F150, Suburbans) would have to start walking to work or ride a bike - or consider purchasing a more economic vehicle....
as for the countries selling the oil - Saudi's pay 65 cents a gallon for their gas - but I don't feel we should completely blame it on the greedy middle-eastern nations.
our gov't has a major roll in controling this - as does the rich folks on wall street.
ever wonder why our gov't hasn't cracked down on how the price can flutuate 25 cents a gallon within a 1/4 mile radius? something is not right there
The whole rest of the world will still buy it from them.Hopefully this will happen in my lifetime.If we drill for more of our own and DO NOT let the oil companies sell it out on the open market and at the same time bring Hydrogen fuel into the picture, we can be truly independent of them for good!
If the U.S. was to even just propose that by 2012 we would supply all of our oil needs from drilling in the U.S., the worlds oil prices would drop like a rock. They need our money more then we need thier oil. I am a firm beliver that we should start drill in the US now. And say to hell with the rest of the world when thier economy's crumble.
Actually ALL oil is traded on the world market due to OPEC's cartel. Even oil drilled here would have to go on the world market.
China has been wheeling and dealing for more oil supplies over the past 5 years or so. I am certain they would pick up the slack and the US would crumble until we find alternative fuels.
The US economy would collapse, the Iraqis would throw us out of Iraq, the Afghanis would throw us out of Afghanistan, and there would be a revolution in this country.
America would come to a standstill.
How would we fuel our navy and military abroad without foreign oil?
we can't
auto companies like GM have killed the electric car in the 90s.
buy foreign autos to strike back
hugs!
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