Carrots and Sticks Needed to End Oil Dependence

(Photo: Business Wire)

Not so long ago it seemed the days of placating foreign despots for energy reasons was largely over. Big increases in domestic output made the U.S. the world’s largest petroleum producer and a net oil exporter. There was even talk of energy independence. But tens of millions of Americans have learned the hard way at the gas pump that oil – which fuels more than 90 percent of U.S. automobiles – continues to be priced by a volatile global market irrespective of how many wells we drill at home. And President Biden’s recent trip to the Middle East was a reminder of the major role oil plays in America’s relationship with Saudi Arabia and other Gulf monarchies. Getting beyond the current crisis and achieving true energy security means breaking the grip of oil on the American economy and influence on American policymaking, writes General Carlton D. Everhart, member of SAFE’s Energy Security Leadership Council. Read more via Real Clear Energy.