Full Title: A National Security Strategy for Energy: The Innovation Revolution
Author(s): Energy Security Leadership Council
Publisher(s): Energy Security Leadership Council
Publication Date: May 1, 2016
Full Text: Download Resource
Description (excerpt):
Rarely in history has Americans’ perception of the nation’s energy security oscillated as wildly as it has over the past decade. In 2008, amid a historic oil supply crunch and record run-up in global oil prices, U.S. spending on oil reached nearly 6 percent of GDP, a level historically associated with recession.1 The nation, heavily dependent on fuel purchased from overseas, sent a record $388 billion abroad for oil, accounting for well over half of the country’s trade de cit. And with no alternatives to oil in transportation, American households saw their spending on gasoline double in a few short years, draining thousands of dollars from the typical family’s disposable income.