As crude prices react to escalating tensions between the United States and the Islamic Republic of Iran, now is an important time to understand the key distinction between energy “independence” and energy “security” as the terms apply to the U.S.
In the wake of last week’s U.S. drone strike that killed Iranian General Qassem Soleimani and several compatriots as they were trying to exit Iraq through Baghdad International Airport, some media commentators and government officials attempted to allay public concerns about potential disruptions in oil supplies by claiming that the United States now enjoys energy “independence” from reliance on Middle Eastern oil thanks largely to the Shale Revolution. That is an overstatement of the situation.
