U.S. Remains Vulnerable Despite Potential Energy Independence - WSJ.com: " . . . Still, the U.S. is in some respects worse off than it was four decades ago. Oil prices in real terms are about five times higher than they were 40 years ago and nearly as high as they have ever been, despite increased production. In 1973, oil was about $21 a barrel in real terms, compared with $103 in 2012. U.S. reliance on imports, though falling steadily in recent years, was still higher at the end of last year at 40%, compared with 35% in 1973. The U.S. imported more than four million barrels a day of oil in 2012 from nations belonging to the Organization of Petroleum Exporting Countries, compared with three million in 1973 . . . " (read more at link above)
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