Energy security: a continuing debate. [Interview of three policy analysts]
Responding to questions from the editor, Georgetown University professor Charles K. Ebinger sees political destabilization, especially in the Middle East, as the major threat to US energy security. He also sees a danger in the world excess in refining capacity and the increasing shift to refining operations by the OPEC nations. He supports a strong industrial reserve as well as completion of the Strategic Petroleum Reserve (SPR) in recognition that the energy markets have never been free. Professor David A. Deese notes that the recession, fuel substitution, and the drawdown of existing stocks are as important factors in the current oil glut as the effects of conservation. Political disagreement over the proper federal role in contingency planning is preventing public policies that will define supply and demand crises. Professor William Hogan foresees a tightening in world oil markets and the need to take the opportunity to fill the SPR while the glut continues while discouraging other oil uses through an import tariff. The use of market forces to allocate oil, Hogan feels, allows the federal government to impose windfall taxes, but creates economic problems for the poor and supply problems for some regions. Some of the revenues can be recycled with tax credits or by increasing Social Security or block grant payments. A futures market for the SPR is one approach that merits consideration. (DCK)
- OSTI ID:
- 6791539
- Journal Information:
- Energy Manage. (Cleveland, Ohio); (United States), Journal Name: Energy Manage. (Cleveland, Ohio); (United States) Vol. 8:7; ISSN ENEMD
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
292000* -- Energy Planning & Policy-- Supply
Demand & Forecasting
294002 -- Energy Planning & Policy-- Petroleum
AVAILABILITY
ECONOMIC POLICY
ENERGY SUPPLIES
GOVERNMENT POLICIES
MARKET
PUBLIC POLICY
RESERVES
RESOURCES
STRATEGIC PETROLEUM RESERVE