Lack of an energy policy remains a major barrier
This paper reports that the war with Iraq provided a new dimension to the ongoing oil industry struggle to cope with oppressive government action and regulation. Coming as it did just before the administration was to announce guidelines for a long-awaited National Energy Strategy (NES), the war created a renewed and dramatic focus on the national energy security question. Now, numerous congressmen, senators and administration leaders are taking a fresh look at how the U.S. can extricate itself from excessive dependence on Middle East oil imports. For example, the planned free-trade agreement with Mexico could figure prominently in an alliance that would bring much more Mexican oil to the U.S. Meanwhile, the wild card is proposals to open up U.S. drilling offshore and in the Arctic National Wildlife Region (ANWR). Prior to hostilities, Middle East tensions brought on significant increases in the price of oil, and with it a large gain in oil company profits for fourth-quarter 1990. Result: talk in Congress of a new windfall profits tax.
- OSTI ID:
- 5779032
- Journal Information:
- World Oil; (United States), Vol. 212:3; ISSN 0043-8790
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
POLICY AND ECONOMY
ENERGY POLICY
POLITICAL ASPECTS
US NATIONAL ENERGY PLAN
USA
NATIONAL GOVERNMENT
ARCTIC REGIONS
GOVERNMENT POLICIES
IRAQ
KUWAIT
MEXICO
OFFSHORE OPERATIONS
TRADE
WARFARE
ASIA
DEVELOPED COUNTRIES
DEVELOPING COUNTRIES
INSTITUTIONAL FACTORS
LATIN AMERICA
MIDDLE EAST
NORTH AMERICA
POLAR REGIONS
293000* - Energy Planning & Policy- Policy
Legislation
& Regulation