Fully maximizing the opportunities presented by the American energy revolution will require a concerted national effort that prioritizes investment in the development of advanced energy technologies—such as low-cost advanced batteries for electric vehicles and more-efficient home refueling units for natural gas vehicles—along with continued growth in domestic energy production. The volatility of oil prices, the presence of anticompetitive forces like OPEC, and the political and fiscal risks to significant and sustained energy-related research and development create an acute need for strong leadership from Washington if we are to capitalize on this moment.
Yet important philosophical differences now divide the major political parties on energy and environmental policies. Pretending such differences do not exist, or dismissing them as petty politics, defies reality and prevents progress on the pressing challenge of oil security.
To move forward, we suggest establishing oil displacement as a national goal. Such a target would advance the goals of robust economic growth, improved environmental protection and effective foreign policy. Best of all, a national consensus on reducing oil dependence should be possible without the resolution of the energy and environmental issues that will continue to be debated for some time.
It would be nice if we had people running the country who understood business. And technology.