Jason Bordoff and Meghan L. O’Sullivan write an in-depth analysis of the intricacies of energy security for Foreign Affairs.
- In the last two years energy insecurity has led to turbulent markets, expensive energy costs, and inflation around the world.
- Lawmakers who are looking to boost energy security face unique challenges including the risk of overreliance on adversaries like China, Russia, and OPEC for energy supplies and the push for a global energy transition.
- The authors suggest that global leaders follow four broad principles to address the issue: diversification, resilience, integration, and transparency.
- The U.S. can bolster energy security for years to come by unleashing domestic production and investing in next-generation innovation.
“There is no reason to despair just yet. After all, the oil crisis of the 1970s sparked a great deal of innovation, including the development of today’s wind and solar technologies, greater efficiency in vehicles, and new government and multilateral institutions to make and coordinate energy policy. The policies and technologies that now seem old and outdated were once shiny and new. Today’s crisis may likewise lead to novel ideas and techniques, as long as policymakers fully grasp the new realities they face.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
