my doxy

Orthodoxy is my doxy; heterodoxy is your doxy.
--William Warburton

Commentary on politics, finance, and sometimes other tidbits when I can't restrain myself.

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Monday, July 21, 2014
I know people have been surprised at the increase in US oil production over the past decade as result of shale development, but today I heard a foreign policy analyst on an NPR talk show make a throwaway comment that the US no longer needs to import oil. I also regularly hear people saying that the US going to be self-sufficient in terms of petroleum sometime in the not too distant future, usually they give a date between 2020 and 2030. In reality, our net imports are currently at a level around 60% of our production, and there is basically no likelihood that we will ever stop being a net importer. So where do they get these ideas?