Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

40 Years From Now, Will We Still Be Addicted to Oil? 40 Years From Now, Will We Still Be Addicted to Oil?

This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

Energy Edge

40 Years From Now, Will We Still Be Addicted to Oil?

October 17, 2013

40 Years From Now, Will We Still Be Addicted to Oil?

This week marked the 40th anniversary of the 1973 OPEC oil embargo, when Saudi Arabia and other countries cut off oil supplies to the United States and quadrupled prices. There has been a lot of talk about what happened 40 years ago.

But what about the next 40 years?

 

It is a daunting task to break oil's monopoly. The Energy Information Administration projects that oil and related products like diesel will fuel 92.4 percent of our transportation sector by 2040, down from 97 percent last year. Even incorporating a $25 price on carbon emissions, oil's share in 2040 would still be 91.2 percent of all transportation fuels.

Yes, we're less dependent on foreign oil. But as long as we still use oil, we will be exposed to risks in the international oil market—and that's still subject to influence by OPEC.

Amy Harder
aharder@nationaljournal.com

P.S. Take a look at National Journal's New Energy Paradigm series.

TOP ENERGY NEWS

TRANSCANADA ANTICIPATES KEYSTONE DECISION BY END OF MARCH. The company believes the State Department will conclude an environmental review in the fall, paving the way for a final decision in the first quarter of 2014.

HAROLD HAMM DOWN ON CALIFORNIA'S MONTEREY SHALE. The North Dakota pioneer says cracking California's reserve is no easy equation.

TOP OIL REGULATOR TALKS FRACKING AND FOSSIL FUELS. California's Department of Conservation director pushes back against accusations that a state law to regulate hydraulic fracturing was watered down.

DEMS MOCK GOP OUTRAGE OVER SHUTDOWN CLOSURES. Two House committees examine whether shutdown closures by the National Park Service were politically motivated.

CHEVRON HOPES TO WIN BACK BILLIONS. A federal trial began Tuesday pitting Chevron against a former public defender who won a lawsuit holding the company accountable for $19 billion in damages in 2011.

NUCLEAR-PLANT ENFORCEMENT INCONSISTENT. Safety violations vary largely by region, a new GAO study shows.

WATER RESOURCES BILL SET TO SEE FLOOR TIME IN HOUSE. The Water Resources Reform and Development Act could see a vote on the House floor as early as next week.

SCIENTISTS: DON'T KILL ANTARCTIC RESEARCH. Researchers call on Congress to keep McMurdo Station open despite shutdown.

HALLIBURTON MANAGER ADMITS DESTROYING GULF SPILL EVIDENCE. Employee pleads guilty in case regarding Halliburton's role in BP spill.

STUDY FINDS OCEANS NEGATIVELY IMPACTED BY CLIMATE CHANGE. Nearly every aspect of Earth's oceans will suffer the consequences of climate change, according to a new report.

HAPPENING TODAY

RESPONDING TO NUCLEAR DISASTERS. The Center for International and Security Studies at Maryland will hold a forum on "Responding to Nuclear Disasters: In Pursuit of High Flexibility Organizations," on better emergency preparedness in the commercial nuclear sector.

NUCLEAR INDUSTRY STATUS REPORT. The Natural Resources Defense Council, the Heinrich Boll Foundation, and the Federation of American Scientists hold an event to launch the World Nuclear Industry Status Report 2013.

Job Board
Search Jobs
Outside Sales Representative
National Federation of Independent Businesses | Elizabeth City, NC
GEN-APP
National Federation of Independent Businesses | Nashville, TN
Outside Sales Representative
National Federation of Independent Businesses | Jeffersonville, IN
Outside Membership Sales
National Federation of Independent Businesses | Minneapolis, MN
Outside Sales Representative
National Federation of Independent Businesses | Meridian, MS
Outside Sales Representative
National Federation of Independent Businesses | Redmond, WA
Outside Sales Representative
National Federation of Independent Businesses | Spencer, IA
Outside Sales Representative
National Federation of Independent Businesses | New Albany, IN
Outside Sales Representative
National Federation of Independent Businesses | Newburgh, NY
Outside Sales Representative
National Federation of Independent Businesses | Eugene, OR
Outside Sales Representative
National Federation of Independent Businesses | Key West, FL
Outside Sales Representative
National Federation of Independent Businesses | Fairbanks, AK
Outside Sales Representative
National Federation of Independent Businesses | Warwick, RI
Outside Sales Representative
National Federation of Independent Businesses | Freeport, ME
Outside Sales Representative
National Federation of Independent Businesses | San Luis Obispo, CA
 
Comments
comments powered by Disqus