FT: “The US remains vulnerable to oil price shocks caused by disruptions in the Middle East and other producing regions in spite of the North American shale boom, a commission of former generals and senior officials has warned.”
“The commission, led by Admiral Dennis Blair, a former director of National Intelligence, and General Mike Hagee, a former commandant of the US Marine Corps, also said the world had entered a “new normal” of high and volatile world oil prices. It urged the Obama administration to promote alternatives to oil use, particularly electric and natural gas-powered cars, and to strengthen support for global energy flows as a foreign policy objective.
“There’s a lot of loose talk about the US being ‘oil independent’, and how that removes the need for us to get involved in some of those parts of the world where we have been sucked in the past,” Admiral Blair said.
“But however much the US is producing, oil is still a global market. So conditions in oil-producing areas will affect the US.”
The group was backed by Securing America’s Future Energy, a campaign group working to reduce US dependence on oil that has on its board leaders from several large US companies, including FedEx, Southwest Airlines, and L-3 Communications.”
Future Today
