The simple answer is that oil isn't fully fungible. Sweet vs sour crude, different grades, serve different needs. Different extraction methods are also viable a

The simple answer is that oil isn't fully fungible. Sweet vs sour crude, different grades, serve different needs. Different extraction methods are also viable at different price levels, many domestic sources only become profitable at higher levels. (Like the levels we're seeing now. Which are stratospheric.) A good contrarian argument for energy independence is it'll impose a higher floor cost on oil prices, making renewable projects more viable. It would also make expensive one-time upgrades that enhance energy efficiency look better on paper when compared against opportunity costs.