US energy policy should reflect security, not independence

23 May 2013 19:59  [Source: ICIS news]

HOUSTON (ICIS)--The influx of US resources from the shale gas revolution has caused many to push for more energy independence in the country, but energy security may prove more beneficial, an industry executive said on Thursday.

In a survey, conducted by KPMG Institutes, 62% of those surveyed think energy independence will happen by 2030, and one out of four surveyed said it will happen by 2020.

According to Marathon Oil’s vice president of North America Production Operations, Gretchen Watkins, energy security is what North America should look toward.

“It is important that we differentiate between energy independence and energy security,” she said. “An energy security policy that the US might adopt should have a couple of different aspects to it.”

The policy should drive efficiency and conservation as well as have a mix of petroleum products and geographic locations from which to obtain the products, Watkins said during the KPMG Global Energy Conference.

She added that in order to have energy security, a policy should “foster growth in terms of new technology in order to access the abundant resources we have in this country today”.

“As a country, we need to be very cautious of isolating ourselves,” Watkins said.

The KPMG Global Energy Conference concludes on Thursday.

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By: Anna Matherne

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