For decades, US energy strategy has focused on developing foreign resources to meet domestic needs of consumers. This strategy made sense when foreign resources were cheap and plentiful. Today, foreign development costs are out of balance with consumer ability to absorb these costs. Unfortunately, the US reached this apex years ago. This is one of the reasons why trade imbalances and budget deficits are so high.
Today, America is torn between developing domestic resources of paying for foreign supplies. Given need to reduce costs and need to minimize drain on US capital, it is time to invest in developing all sources of domestic energy. The upside is opportunity to reduce trade imbalances while generating sources of millions of domestic jobs. While there is increasing need to develop domestic resources there is also need to conserve energy and develop new sources of energy. Now more than ever, America must invest in research to discover new solutions.