The Congressional Budget Office report on the underlying factors of energy security in the United States was released recently, focusing on electricity and transportation, the two sectors which consume the most energy. The Chairman, Senator Jeff Bingaman, noted, “…the long-term solution to the challenge of high and volatile oil prices is to continue to reduce our dependence on oil, period.” He extolled a bipartisan strategic vision as the best approach to this issue. Other findings focused on public policy, including greater U.S. oil production and creating incentives to reduce consumer use of oil and its products, resulting in less vulnerability to market changes.

Read full article here: CBO Analyzes U.S. Energy Security