The U.S. is at an energy crossroad. Continuing with “business as usual” energy policy will endanger our future. We are heading into a growing, oil triggered, energy security crisis that can easily develop into a worldwide war on resources. If nothing is done, the rising cost of energy will stifle economic growth and will cause a prolonged decline in standard of living. The looming results and cost of inaction on global warming could change not just our shoreline but every aspect of our life. We need a new energy policy.
Defining and executing a new energy policy should become our national priority. We must face hard decisions which include setting priorities, allocating budgets, understanding our limitations and do it for the American people and not for different interest groups. The energy sector is highly regulated and because of its strategic implications will continue to be so. However, regulations should establish the frameworks to ensure fair competition and strong societal benefits, not dictate how to get there or pick winners. Defining and executing an energy policy is a monumental task that will be one of the main challenges facing our next presidents.