Energy Independence in an Interdependent World
By the end of this decade, nearly half of the crude oil that the US consumes will be produced at home, while 82% will come from its side of the Atlantic. Pure independence is a chimera, but a balance of energy imports and exports does promise to alter the power relations involved in energy interdependence.
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CAMBRIDGE – When President Richard Nixon proclaimed in the early 1970’s that he wanted to secure national energy independence, the United States imported a quarter of its oil. By the decade’s end, after an Arab oil embargo and the Iranian Revolution, domestic production was in decline, Americans were importing half their petroleum needs at 15 times the price, and it was widely believed that the country was running out of natural gas.