for Energy Security
Although the governors of Minnesota and New Mexico gave environmental reasons for enacting new fuel efficiency standards, following more stringent standards also provide significant economic and national security benefits.
Oil majors continue to ratchet up activity in U.S. shale, even as other producers cut back.
Weaker demand has allowed traders to shrug off recent events in the Persian Gulf. But a belief that a return to the days of the tanker war is unlikely may be misplaced.
With global oil supply outpacing demand, oil traders are shrugging off rising tensions around the Strait of Hormuz.
Shuttered Gulf of Mexico production during Tropical Storm Barry offers a reminder of the vulnerability of the region’s energy infrastructure to weather events.
In testimony to Congress, Electrification Coalition VP Ben Prochazka made the energy security case for electrifying the U.S. vehicle fleet and retaining the federal EV tax credit.
Lost in the albeit important discussion of the environmental benefits of CAFE is the pivotal role that they have played in reducing U.S. oil consumption and putting the nation on a path to making the rare transition from being a net importer of oil to being a net exporter.
Some commentators argue that due to the rapid rise in shale production, reliance on petroleum is not a national economic and security threat. But oil dependence remains a strategic vulnerability for U.S. consumers and businesses.
Admiral Dennis Blair served in the Navy until 2002 and was commander in chief of U.S. forces in the Pacific region. He also served in the White House during the Reagan administration and was appointed the Director of National Intelligence from 2009-10.
Dealing with the country’s energy security vulnerabilities requires sustained and targeted involvement by the federal government. The SPR plays an important role in insulating the U.S. economy from a volatile and unpredictable global oil market