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CFR says oil prices must remain higher to reduced foreign demand
The Council on Foreign Relations said on October 12, 2006, that “The lack of sustained attention to energy issues is undercutting U.S. foreign policy and U.S. national security.”
In its report, "U.S. Energy Dependence Undercutting U.S. National Security", former CIA director John Deutch said;
"Higher energy prices are unleashing remarkable forces for innovation in this country. Entrepreneurs are seeking new ideas for products and services such as batteries, advanced oil and gas exploration and production techniques, and biofuels. However, “no strategy will be effective without higher prices for transportation fuels, or regulatory incentives for more efficient vehicles, to stimulate new technologies that ultimately are vital to reducing the dependence on oil and gas, and to making a transition away from petroleum fuels.”
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