Is Energy Independence Realistic?

Is Energy Independence Realistic?: "This week's uprising in Egypt that occurred in concert with a minor spike in the price of oil unsurprisingly led to renewed commentary suggesting the United States must achieve 'energy independence.' But looked at with a more reasoned eye, the events in Egypt exposed the sheer absurdity of the charitably false notion of energy independence, says Real Clear Markets.

For one, the not so notable increase in oil prices was to be expected either way. On the other hand, assuming some of the oil price increase was related to fears of supply shortfalls given the shipping lanes under Egypt's purview, what becomes apparent is that even if the United States were totally oil sufficient, our being that way would in no way shield us from global events that might reduce supply while increasing costs."

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