Deloitte Center for Energy Solutions recently released a report titled, "Energy independence and security: A reality check," that examines whether or not energy independence is necessary to achieve energy security. Deloitte contends that the answer is "probably no."
The report reviews present and developing national energy policies and discusses US strategies for oil imports and use.
A key conclusion is that, "While US energy independence may be unattainable in the foreseeable future, energy security is a realistic and achievable goal."
"The real issue is not independence from all foreign oil," the report continues, "but reducing oil imports from unfriendly nations, diversifying our supply of energy sources and ensuring that no nation can effectively manipulate markets against our national interests....Understanding how to reach [energy security], however, requires us to know more about our sources and uses of energyand the realities of energy supply and demand."
The report also acknowledges, "For most energy-consuming sectors of our economy, our supply is predominately domestic, with only transportation remaining more heavily dependent on imports. Thus, the US already has significant 'energy independence,' at least in terms of exclusive reliance on domestic production, for much of its economy."
"The remaining question," Deloitte contends, "is how to make the transportation sector more independent of sharp disruptions and 'unfriendly' sources [of energy]."
The report concludes with a list of recommendations to ensure the availability of secure supplies of affordable energy.
To read the complete report, click here.