Imported oil and U.S. national security

"In 2007, on a net basis, the United States imported 58 percent of the oil it consumed. This book critically evaluates commonly suggested links between these oil imports and U.S. national security. The major risk to the United States posed by reliance on oil is the economic costs of a major disruption in global oil supplies. On the other hand, the study found no evidence that oil exporters have been able to use embargoes or threats of embargoes to achieve key political and foreign policy goals. Oil revenues are irrelevant for terrorist groups' ability to launch attacks. The study also assesses the economic, political, and military costs and benefits of potential policies to alleviate challenges to U.S. national security linked to imported oil. Of these measures, the adoption of the following energy policies by the U.S. government would most effectively reduce the costs to U.S. national security of importing oil: (1) Support well-functioning oil markets and refrain from imposing price controls or rationing during times of severe disruptions in supply. (2) Initiate a high-level review of prohibitions on exploring and developing new oil fields in restricted areas in order to provide p