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Research Report

EMPOWERING AMERICA: HOW ENERGY ABUNDANCE CAN STRENGTHEN US GLOBAL LEADERSHIP

Lisa Murkowski
Mark Warner
Richard L. Morningstar
David L. Goldwyn
Bud Coote
Copyright Date: Jul. 1, 2015
Published by: Atlantic Council
Pages: 30
OPEN ACCESS
https://www.jstor.org/stable/resrep03627
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Table of Contents

  1. (pp. 5-8)

    The United States has significant natural resources endowments and technological prowess that can empower US policymakers to help meet US national security and global economic interests.

    US natural gas and oil reserves are enormous. Proved natural gas reserves grew to 354 trillion cubic feet (tcf) in 2013,⁴ while technically recoverable gas resources were estimated in 2012 to be 2,266 tcf,⁵ or more than 80 years of US consumption at current rates. Crude oil and lease condensate reserves increased from 20.5 billion barrels in 2008 to 36.5 in 2013.⁶ This is the result of US-pioneered advances in hydraulic fracturing and horizontal...

  2. (pp. 9-9)

    US interests in the energy space are long standing and closely integrated with our broader national security and economic goals.17 These interests include maximizing diversity of supply and open energy markets, mitigating the energy insecurity of others through bilateral support and collective action, enabling energy access in the developing world, and, more recently, hardening our energy systems against terrorism and cyberattacks.

    The United States has long maintained a strong interest in maximizing open, transparent, and freely flowing energy markets. Following the 1973 Arab oil embargo and the creation of the International Energy Agency (IEA), consuming nations abandoned oil sharing allocations...

  3. (pp. 10-17)

    Energy plays a salient role in addressing the primary security challenges that US allies and trading partners face. Although these challenges vary in kind and degree, they all contain an essential energy component. The manner in which these challenges are addressed will affect Washington’s ability to muster coalitions to address key national security issues.

    In Europe, the primary security challenge is resisting Russia’s rejection of international law, disrespect for sovereign borders, and use of energy as a tool of coercion. There is a direct connection between some nations’ reliance on Russian energy supplies and their ability to enjoy true autonomy....

  4. (pp. 18-21)

    As we have noted, US foreign policy is grounded in a strong domestic economy. Throughout our history, mitigating oil price shocks has been important to achieving macro-economic stability. Today, sustaining competitive energy markets and maintaining a strong energy production base is an important source of US GDP growth. The added step of allowing expanded exports of oil and gas would help maintain a strong US base in energy production.

    We highlight five collateral benefits of the US energy boom that impact the US economy or our role as global economic power: 1) the impact of energy production on the US...