Rising Oil Prices and Dependence on Hostile Regimes: The Urgent Case for Canadian Oil

In light of the recent events in Egypt, Tunisia, and Libya, the political unrest throughout Northern Africa and the Middle East has caused significant instability in world oil markets. In the last month, the price of oil has risen to $105.00 per barrel, a 29-month high, which led President Obama to consider tapping into U.S. oil reserves.

I was pleased to hear the President say yesterday in a speech at Georgetown, and I quote:

"Importing oil will remain an important part of our energy portfo...