The Oil Drum has a fascinating piece by analyst Kevin Kane on how politicians and pundits have been stirring the energy independence pot since the 1970’s, yet there is still no consensus regarding whether this is a realistic goal.
If leaders are serious about energy independence, they will ask the more appropriate energy question, “How can we create global energy security?”
When asking this more relevant question, we can derive many proposals, beginning, but not limited to, the following three general approaches:
(1) First, recognising that global economic integration creates mutual energy insecurity, President Obama could propose addressing the topic through the G20, and call for the creation of a global energy security committee tasked to draft a global energy strategy proposal.
(2) Second, this global energy strategy should focus on building cooperation, creating transparency, eliminating barriers to foreign energy investment, eliminating energy trade-related tariffs, advancing liberalization, coordinating R&D, facilitating technology sharing, and managing mutual energy insecurity.
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