May 5, 2006
Energy independence isn't a good national security strategy
By Shikha Dalmia
As the nuclear stand-off with Iran helped push oil prices to near-record levels, President Bush once again declared, "Dependency on oil creates an economic problem for us, and it creates a national security problem for us."
But if Iran's behavior makes the case for anything at all, it is that America should become more – not less – "dependent" on foreign oil. In fact, the best way for America to defuse the so-called Middle Eastern oil weapon is by purchasing even more oil from the region.
The economic case for energy independence has always been nonsensical. It is not possible to shield American consumers from rising prices at the pump simply by replacing foreign oil with domestic oil. Why? Because regardless of where the oil is produced – Oman or Oklahoma – its prices are set by the global market.