In their own words
Oilman T. Boone
in an editorial
board meeting at The Oklahoman, Aug. 23:
There's 17 million barrels a day going though the Straits of Hormuz. Only 2 million of that comes to the United States, but we're the ones paying to keep the Straits open with our military.
“You have to ask yourself, 'Is this really a good idea?' We're getting people killed over here every day, and we know that one reason we're there is because of the oil.”
senior fellow at the Manhattan Institute and author of "Gusher of Lies: The Dangerous Delusions of Energy Independence."
The United States is the world's single biggest energy producer and consumer. Why would we want to be independent of the world's biggest market? The United States is exporting 3 million barrels per day of refined product. That is good for the U.S., good for our balance of trade, good for employment.
“If we Americans truly believe in a free market and free people, we should support the free exchange of goods. If the Saudis can produce something more cheaply than the United States, that's where we should buy it. Why is it we are only talking about energy independence? What about tennis racket independence or beer independence? Why is this reserved for energy? When it comes to energy, there is endless opportunity for hyperbole and dogma.”
executive chairman at Oklahoma City-based Devon
‘Energy independence' implies that you could build a wall around the United States and not worry about the rest of the world. “Energy independence” is a term that could be misleading. If the price of oil goes up internationally, it is going to affect us. We don't live on an island with any commodity.”
dean of Oklahoma City University's Meinders School
We have trade with other countries because some countries have the ability to generate products or services below where we can produce them. There are competitive advantages to trade with other countries.
OPEC (The Organization of Petroleum Exporting Countries) has had us by the throat for the past 40 years because of their ability to set the price, but that is changing. American producers are changing the face of domestic oil supplies. As a result, we are less reliant on those foreign sources.
But if they can still produce oil at a lower marginal cost than we can over time to the point that we can import that and not be at their mercy to be able to restrict supply, we need to trade with them — unless we have political sanctions against them like what is going on with Iran. But to the extent that they can supply oil at a lower cost, we need to look at it.”