Disadvantage of the U. S. dependence on foreign oil

Way higher national oil prices.

Scramble for exploitation of natural resources.

Lower economic growth. Many inputs rely on oil. If oil prices rise drastically and unexpectedly, stagflation would be a real concern.

High enforcement costs. Canada and Mexico, our next door neighbors, are brimming with oil. We would need to patrol the entire border. That's expensive.

Rise of inequality