U.S. says energy diversity equals energy security

Increased oil production not only way to break from foreign markets, Energy Department says.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |   April 8, 2014 at 10:12 AM
| License Photo

WASHINGTON, April 8 (UPI) -- Reducing the dependence on oil and increasing energy security involves more than just increasing production, U.S. Energy Secretary Ernest Moniz said.

The U.S. Energy Information Administration said oil production by 2020 should pass the 9 million barrel per day mark and shale production should account for more than 80 percent of the increase from U.S. reserves.

U.S. policymakers said increased production would help wean the U.S. economy off foreign imports.

Moniz in a 32-page report outlining the department's strategic plan said the U.S. economy needs a break from oil.

"Although domestic oil production has increased to the extent that in 2012 net imports of petroleum fell to their lowest level in nearly 20 years, we must continue our efforts to develop alternative fuels and vehicles; as we are far from decoupling our economy from the global oil market," he said Monday.

President Obama has embraced an "all-of-the-above" energy policy, a policy his opponents say is curbing U.S. energy potential in the era of shale.

Moniz said, however, that a diverse energy mix may be one of the better ways to advance energy security in a way that keeps environmental issues at bay.


Related UPI Stories
Topics: Barack Obama
Latest Headlines
Trending Stories
House Majority Leader Kevin McCarthy drops bid for speaker
WikiLeaks offering $50K for video of Afghan hospital bombing
Murdoch sorry for implying Obama's not a 'real black president'
Reid sues exercise companies over eye injury
Lumber Liquidators to pay $10M in DOJ settlement