I’ve pretty much concluded that any story or speech that includes the term “foreign oil” is full of it. There is no foreign oil or domestic oil. There’s a worldwide oil market. Cut off oil from one source? Another source compensates. Produce more oil domestically? Prices drop a tiny bit, equally for everyone.

The problem, if problem there be, is not “foreign oil.” It’s oil. Anyone who says otherwise is trying to pull something over on you.