Ukraine and the Mirage of Energy Independence
The New York Times
Domestic oil and gas production in the U.S. boomed in recent years. But the country and its allies remain reluctant to impose sanctions on Russian energy that would damage their economies.
HOUSTON — It may be time to pluck that old cardigan out of the closet.
President Jimmy Carter wore one as he delivered a televised address in February 1977 when he told Americans the country had reason to be worried about its habitual reliance on foreign oil — and maybe they should turn down the heat. In April, he warned that with its resources shrinking the country faced “a problem that is unprecedented in our history. With the exception of preventing war, this is the great challenge our country will face during our lifetime.”
Today another American president faces rising fuel prices, spurred by a challenge mostly out of his control, an invasion of Ukraine by Russia, a top oil and gas producer intent to use its energy supplies as a weapon when necessary.
