Former ambassadors cite foreign policy impacts from oil imports

More decisive action is needed to reduce US reliance on imported crude oil, which pushed the foreign trade deficit past $500 billion in 2011 to unsustainable levels, Securing America's Future Energy (SAFE) said in the first study by its new Diplomatic Council on Energy Security. "Although the prospects of rising US oil production are substantially more positive than just a few years ago, and net oil import volumes are forecast to decline as a consequence, projected expenditures on these imports are nevertheless projected to increase in real terms due to higher average oil prices," it said. Transportation remains the primary demand reduction focal point, with new policies needed ...

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