Accession Number : ADA568438

Title :   A Crude Reality; Exploring the Interdependencies of Energy (Oil), the Macro-Economy, and National Security

Descriptive Note : Civilian Research Paper

Corporate Author : TEXAS UNIV AT AUSTIN

Personal Author(s) : Conway, John P

Full Text :

Report Date : 11 Apr 2012

Pagination or Media Count : 48

Abstract : Except for our own Civil War, this [the war on terror] is the only war that we have fought where we are paying for both sides. We pay Saudi Arabia $160 billion for its oil, and $3 or $4 billion of that goes to the Wahhabis, who teach children to hate. (Jim Woolsey, former CIA Director) In 2008, the United States imported 4.7 billion barrels of crude oil to satisfy the nation s fuel needs. The average price per barrel of imported oil in 2008 was $92.61 billion. This works out to $1.19 billion per day for the year, an incredible $434.35 Billion per year. This represents, in the global macroeconomic prism, the largest transfer of wealth in the history of the world. A coherent and achievable national energy transformation strategy is required in order to ensure a vibrant, stable and sustainable economy. An economy that secures capital wealth internally, supplies the energy required to meet consumption demands for growth and by extension permits the tax basis to sustain the world s best military. A Spectrum Wide Energy Exploitation Policy (SWEEP) optimizing our own natural resources in the near term (oil, natural gas, coal, nuclear, wind, solar, hydro, geothermal and synthetics), and displaces the oil based economy with a long term energy transformation plan based on renewable energy, is vital to a prosperous, free and secure America.


Subject Categories : Government and Political Science

Distribution Statement : APPROVED FOR PUBLIC RELEASE