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NDCF report: the hidden cost of imported oil
National Defense Council Foundation: if reflected at the pump, the “hidden costs” of oil would raise the price of gallon of gasoline to over $5.28. Thirty years later oil is still a big gun Thirty years ago, on October 17, in an attempt to influence U.S. Middle East policy, the OPEC cartel, spearheaded by Saudi Arabia, decided to cut oil supply to the U.S. Can it happen again, and what can we do about it? Dangerous Dependence The United States should decrease its use of Middle Eastern oil and develop alternate fuel methods or risk even greater reliance on the Arab world, warns one energy expert. Minding Its Business Saudi Arabia, which has demonstrated its willingness to use its vast oil reserves as a foreign policy tool, has not acted to aid U.S. efforts to rebuild Iraq. Fencing in looters and saboteurs in Iraq Too many people in and outside of Iraq are hoping to deny Iraq a better future through a campaign of sabotage and plunder of the country's neglected oil facilities. The problem, and possible solutions. In this hemisphere Unrest in Bolivia over gas deal Riots over a proposed $5 billion project to export natural gas to the U.S. forced Bolivia's president to step down. Background Prospects on Russia’s stance towards OPEC In September Saudi Arabia’s de facto ruler Prince Abdullah made the first visit to Russia by a Saudi head of state in over seven decades. The future of Moscow’s stance towards OPEC is a critical question for the world oil market. Will Russia be willing to cooperate with OPEC and thus further strengthen the power of the cartel to set a price range for oil? Energy security and liquefied natural gas Demand for natural gas has increased as have the security vulnerabilities presented by liquefied natural gas terminals and tankers. On the technology front Genesis Fueltech reports successful long term test of methanol reformer Phillip Piffer, president of Genesis Fueltech, reports on testing of the company’s newest methanol to hydrogen fuel processor. Caterpillar and FuelCell Energy Announce Largest Fuel Cell Power Plant Installation in Illinois The fuel cell power plant, which can supply electricity to more than 250 average American homes, will be connected to the Peoria area electricity grid. Plug-in hybrid electric HUMVEE for the U.S. military International Truck and Engine Corporation has a cooperative agreement with Vision Technologies Systems, Inc, to design and market a repowered solution for the HUMVEE® which includes a hybrid electric drive with plug-in power. Hydrogen fuel cell powered special operations vehicles for the Army Quantum Fuel System Technologies Worldwide, Inc., will develop and demonstrate a high performance, hydrogen fuel cell powered light-duty, special operations vehicle. Fuel comprises 70 percent of the supplies transported by the Armed Services to support battlefield operations. IAGS is a publicly supported, nonprofit organization under section 501(c)3 of the Internal Revenue Code. IAGS is not beholden to any industry or political group. We depend on you for support. If you think what we are doing is worthwhile, please Support IAGS. All contributions are tax deductible to the full extent allowed by law. Property of The Institute for the Analysis of Global Security © 2003. All rights reserved. Back Issues |
NDCF report: the hidden cost of imported oil The National Defense Council Foundation (NDCF), an Alexandria, Virginia-based research and educational institution has completed its year-long analysis of the “hidden cost” of imported oil. The NDCF project represents the most comprehensive investigation of the military and economic penalty our undue dependence on imported oil exacts from the U.S. economy. Included in this economic toll are:
One striking figure was the cost of the periodic oil shocks the U.S. has experienced over the past three decades which NDCF estimates at from over $2.2 Trillion to almost $2.5 Trillion. Prior to completion the study underwent an exhaustive peer review by a panel comprised of seventeen individuals with a broad range of expertise including representatives from government, industry and major environmental organizations. In addition to detailing the costs of America’s import dependence, the NDCF report also outlines the benefits of shifting the U.S. transportation sector to non-petroleum derived fuels. Also see: How much are we paying for a gallon of gas? Top |
Energy Security
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