Offshore Oil Drilling

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"Although efforts have been made to find alternative fuel sources, at this time the United States continues to be dependent upon oil for the majority of its energy needs. Unfortunately, the nation does not produce enough oil domestically to meet this need. Therefore, the U.S. must import foreign oil from unstable regions of the world such as the Persian Gulf. Studies indicate that the United States imports half of the 6 billion barrels that it needs each year, at an annual rate of approximately $42 billion. It has been noted that as much as 50 percent of the nation's current trade deficit is due to this large-scale importation of oil. Because of this situation, it has been argued that the United States should make a greater effort to exploit domestic oil resources. Although there are many onshore sites for oil, the ... "

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