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Hurricanes Katrina and Rita, which struck the US coast of the Gulf of Mexico in late summer 2005, illustrated the extent to which energy policy inertia has left America's economic and national security at risk. Failure to sustain efficiency gains after the oil shocks of the 1970s left the country increasingly reliant on imported petroleum. American leaders have neglected the need for international cooperation and a long-term transition to higher efficiency, based on market measures. In order for the United States to reduce its exposure to volatile world oil markets, resource nationalism and the potential for global economic disruptions, America must engage in the hard work of consensus-building and promoting a long-range effort to secure its energy future.
Chow et al. (Thu,) studied this question.