The turmoil in Egypt has made many worry about our oil supply, seeing prices rise due to the conflict. The issue raises the question of where we should be getting oil to ensure the security of its supply. Obviously the first place is at home. But with the Obama Administration placing a moratorium on offshore drilling in the Gulf followed by a de facto ban, withholding the final stages of a permit from Shell to drill offshore in Arctic waters of the Beaufort Sea in Alaska(1), and withdrawing leases on Federal lands that contain vast resources of shale oil[ii], the only choice for the United States is to turn to oil imports for its supply.
