American Vulnerabilities to Spikes in Oil Prices
As we have discussed on several occasions, American dependence on foreign oil is an impediment to our national security for a multitude of reasons. But our dependence is also economically detrimental. This is particularly true we work to recover from the current economic downturn.
A recently released white paper from the Natural Resources Defense Council details the impact on household economies by state. Specifically, NRDC ranks states according to their vulnerability to volatile oil prices; how deep an impact will a spike in oil prices have on the American population? Topping the list of “most vulnerable” are the populations of Mississippi, Montana, Louisiana, Oklahoma and South Carolina.
NRDC concludes:
By promoting more efficient vehicles, clean fuels, smart growth, and public transportation, governments can put an end to an unhealthy addiction that pinches our wallets and threatens our national security, economy, and environment.
As more information becomes available on this topic, the need to invest in alternative sources of energy becomes increasingly clear. Ultimately however, the prices we pay for energy — to power our cars, for example — is a decision we must make for ourselves.
