[api]

It's not about physical self-sufficiency but about money. It's about who gets to pump and sell that oil and where the profits go.

[grecy]

Furthermore it's about not using up the US reserves, so that when the rest of the world runs out the US will still have plenty on it's own soil.

Have a look into why the Alaska pipeline runs that lowest possible capacity.

[api]

I have long suspected that the USA deliberately held back its own oil production to maintain a strategic reserve. This policy seems to be ending though as evidenced by today's high domestic production.

[wu3u3h3uedh]

The 1973 OPEC oil embargo would beg to differ.