for Energy Independence
Considered the heartland of the U.S. shale revolution, signs are emerging that production in the Permian Basin may be peaking.
While there is no doubt that the U.S. has become an energy superpower, the main priority of the country should be strengthening overall energy security. One metric is the level of fuel choice in the transportation sector, which gives options to consumers and businesses so that they are not dependent on only petroleum.
Both Trump and Clinton make misstatements on energy, but Clinton points to role Middle East producers play in managing oil prices.
Instead of focusing on energy independence, countries should focus on diversity of supply and substitutability of fuels.
The Renewable Fuel Standard's main purpose was to reduce U.S. dependence on oil by mandating production of renewable fuel, and in that regard, it has been successful, but only marginally.
For the western world, the severing of energy imports from dictatorships and corrupt regimes is not only crucial for geopolitical balance, but an essential tool for human rights and democratic reforms worldwide.