US energy security. Problems and prospects

Despite the impression conveyed by the data on US energy - particularly oil - consumption and production over the last three years, and the increased concentration of excess capacity and reserves in the Persian Gulf countries, the prospects for the USA and other OECD oil-importing countries to satisfy their energy requirements in the short term are favourable. As a result of the projected energy efficiency gains in manufacturing and transportation, continued electrification of the economy - fueled increasingly by nuclear and solar energy, and mounting environmental problems over the use of fossil fuels, the longer term prospects regarding US energy security are even more encouraging.