Alaska Dispatch – Andrew Holland Speaks on New Fuel Efficiency Standards
Source: Alaska Dispatch, 8/1/2011
ASP Senior Fellow Andrew Holland is quoted.
“This is a big deal,” Andrew Holland, senior fellow with the American Security Project, a bipartisan public-policy and research organization, wrote on his blog. “It is important that the United States as a whole uses less oil because the sheer volume of oil imports harms American competitiveness and drives down the value of the dollar.”
The US spent at least $680 billion on oil imports in 2010, he writes. Without those imports, the US trade deficit of $497 billion in 2010 “would not have existed.” He continues, “That capital could be used for investment at home, and the export of that capital had the effect of driving down the value of the dollar.”
