Energy independence – what then? (Part two: Benefits—but Lurking Uncertainties)
Energy independence – what then? (Part two: Benefits—but Lurking Uncertainties) / Joel Darmstadter and Roger Sedjo, CommonResources, RFF, 27/11/2012
International Energy Agency (IEA) projections show the US overtaking Saudi Arabia as the world’s lead oil producer and, in the light of Canada’s oil sands production, North America becoming a net oil exporter by around 2030. Zero US oil imports—a goal of various US administrations since at least the Nixon era—promise to relieve, at least to some extent, security concerns associated with dependence on foreign oil sources. Additionally, the pure economic benefits to America are likely to be substantial. However, environmental and geopolitical concerns will create uncertainties that confound political decision making…
This post is the second in a four-part series on energy independence and its significance (or insignificance) – ed. See the first post here.