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New at Reason: Jon Basil Utley on Alaskan Oil Abundance Versus Washington's Wasted Billions
Oil imports now
count for almost 80 percent of American consumption and cost some
$300 to $400 billion yearly. They wreck our trade balance,
subsidize many of our enemies, and add to our already mountainous
foreign debt. But as Jon Basil Utley writes, new oil drilling in
Alaska and off America's coasts would create hundreds of thousands
of American jobs and billions of dollars in real tax revenue for
Washington.
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