In his forthcoming book Gusher of Lies: The Dangerous Delusions of “Energy Independence” (PublicAffairs) Robert Bryce, managing editor of Energy Tribune and author of Pipe Dreams: Greed, Ego and the Death of Enron, grapples with what he detects as a growing belief, both among policy elites and the public, in “energy independence.”
That’s the notion that America should disengage from world energy markets and seek self-sufficiency in energy production. To Bryce, this is not only impossible, but dangerous to even attempt. As he writes in the book’s introduction, the quest for energy independence “means protectionism and isolationism, both of which are in opposition to America’s long-term interests.”
Some of the myths of energy independence Bryce takes aim at are summed up in this January Washington Post op-ed. They include the false belief that U.S. energy autarky can curb terrorism; that government investment in “alternative fuels” can end our use of foreign oil; that we can starve evil petro-regimes of money by refusing to buy their oil; and that less reliance on foreign energy sources can make our energy supply more secure.
Like any decision to isolate ourselves from the free international market, the search for energy independence would, Bryce demonstrates, lead us to waste our money and, yes, our energy doing things more expensively than they can be done by taking advantage of the international division of labor and flow of capital.
Read the rest at: https://www.reason.com/news/show/125027.html