Abstract
ABSTRACT Over the last few years, technological advances have vastly increased the ability of the United States to produce petroleum on its own territory. This startling turnaround in U.S. petroleum prospects has caused some to believe that the United States can become energy “independent.” After examining the production data and the concepts of “independence” and “energy security,” the conclusion is reached that while U.S. petroleum security is dramatically improving, energy “independence,” as conventionally understood, is not realistic. The ultimate degree to which U.S. petroleum security improves is highly dependent on (1) the outcome of numerous political disputes within the United States between petroleum and environmental interest groups and (2) the future investment policies of the international oil companies and Saudi Arabia.
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