{"word_count": 278, "character_count": 1920}
America’s Energy Security Options / Trevor Houser and Sha shank Mohan. Peterson Institute for International Economics, June 2011, 40 p. (PB ; 11-10)http://www.piie.com/publications/pb/pb11-10.pdfAs  US gasoline prices approached $4 a gallon in spring 2011, energy  security moved  to the forefront of the American political debate.  Politicians have been quick to  offer silver bullet solutions to lower  gas prices and make America more energy secure.  Houser and Mohan  analyze the various recent policy proposals, from expanded offshore   drilling to new vehicle efficiency standards, and compare their effects  on US oil  imports, US oil demand, gasoline prices, and energy  expenditures over the 2011–2035  period. They find that despite recent  political rhetoric, when it comes to energy  security there is no policy  panacea. Current proposals vary widely in the time frame,  magnitude,  and nature of their impact. Rather than debate whether expanded domestic   production, improved efficiency, or development of oil alternatives is  the right  course to take, the United States needs to start moving down  all three roads simultaneously  to significantly alter the country’s  energy trajectory. An "all of the above" strategy  is required, which  combines increased domestic production (important in the near  term)  with long-term investments in energy-efficient vehicles and oil  alternatives,  whether electric, natural gas, or biofuels. A carbon tax,  while still a long shot  politically, would deliver further energy  security gains and help reduce the US  deficit in the process. But even  if all proposals currently on the table are  adopted, the US will remain  dependent on the international oil market for  decades to come.  Therefore Washington needs a strategy for improving the  stability and  reliability of that market, something missing from the current  policy  debate. (© Peterson Institute)