America currently imports more than fifty-five percent (55%) of the oil that it uses. This was not always the case. America's Energy Dependence is growing.

The reason for the growth in America's Energy Dependence is our own failure to discover and produce more domestic oil. One must now drill many more wells to discover the same amount of oil. This has resulted in the reduction of the total American proven reserves, that is, the volume of oil considered discovered in America. America currently has about 37 billion barrels of proven oil reserves. Today, many oil wells are drilled that are dry and produce no oil and when one does produce oil it is not usually in as great quantities, greatly increasing the cost of the entire exploration effort. This motivates oil companies to drill in foreign countries where larger fields can still be discovered.

The good news is that there is plenty of oil left to be discovered in America. What is required to discover this oil is simply the arrival of new technology which will reduce the number of dry holes necessary to find the oil remaining in America. The early arrival of this new technology can end America's Energy Dependence.