Oil isolationism is no route to energy security

Isolationism is neither sound nor achievable as a route to energy security. Yet it’s the path toward which US President George W. Bush says he’ll steer his country.In his Jan. 31 state of the union address, Bush set a goal of replacing more than 75% of US imports from the Middle East within 20 years.With a few adjustments, the US could do that now without terrible strain.But what would be the point? Other than how it affects shipping distances, where oil originates matters very little. What matters to importing countries is that enough oil be available in trade to cover aggregate needs.On that score there is reason for concern. Global oil consumption seems certain to keep stra...

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