Yes, 7% of US gas imports, I think 3% of oil imports. But either way, it doesn't matter because it's a global market. While the US' supply isn't threatened beca

Yes, 7% of US gas imports, I think 3% of oil imports. But either way, it doesn't matter because it's a global market. While the US' supply isn't threatened because 70% of foreign oil comes from the Mexico and Canada (plus a ton of domestic production) the price is determined in the global markets. As for fracking leases, oil companies have over 9000 approved permits they're not using already, and when pressed on why, CEOs stated it is because shareholders want them to be conservative with capital. I suspect it's because they realize this is all transient and there's no sense investing in the long run to address a short-term spike.