1. Bringing It All Back Home.
- Author
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Clark, Wesley K.
- Subjects
- *
PETROLEUM industry , *PETROLEUM products , *ALCOHOL as fuel , *OIL shales , *PUBLIC finance , *BALANCE of trade , *INTERNATIONAL trade - Abstract
The article discusses the advantages for the U.S. of investing in the production of ethanol and other homegrown fuels instead of spending billions of dollars on importing oil. It is asserted that the country spends 300 billion U.S. dollars on imported oil annually, accounting for around 60% of the total U.S. trade deficit. One opportunity for producing more oil domestically is the Bakken Shale formation in North Dakota and Montana, which has the potential to produce almost one million barrels per day.
- Published
- 2010