Monday, October 26, 1998
10:00 am to 11:30 am, 216 Hart Senate Office Building

October 25th marks the 25th anniversary of the 1973 OPEC oil embargo.
Do you remember the long gas lines of the 1970's?
Or when the White House Christmas tree remained unlit to save energy?
Or the national campaign to improve the efficiency of homes and businesses, as well as to invest in alternative forms of energy?

These dramatic images of the oil crises are etched into the psyche of many Americans. According to a recently released Sustainable Energy Coalition poll, 62 percent of voters recall the energy crises of the 1970's, and 77 percent of Americans believe that U.S. dependence on foreign oil is a very or somewhat serious threat to national security. Seventy percent of respondents believe that foreign oil is a serious threat to the environment.

Yet because of current cheap oil prices, the country has been lulled into a false sense of security, increasing US dependence on foreign oil and energy-intensive products. In fact, in 1997 our net imports were 48 percent, a sharp rise from the 28 percent we imported in 1973. Is the country just as vulnerable in 1998 to the vagaries of the oil market and subsequent energy shortages as it was in 1973?

On the occasion of the 25th anniversary of the OPEC oil embargo, it is appropriate to ask whether the country has really learned the lessons about energy security first presented two-and-a-half decades ago. Are policy makers sufficiently responsive to the concerns of the public and the recent Energy Information Administration projections that, despite a short-term oil glut, world oil production will peak shortly? Are there domestic resources that can serve as alternatives? What other benefits may accrue from the use of domestic remedies?

Please join EESI as the panel below addresses these and other energy-related national security concerns and opportunities.

• R. James Woolsey, Esq., Partner, Gardner & Shea; former Director, Central Intelligence;

• Robert Wolcott, Deputy Assistant Administrator, Office of Policy, U.S. Environmental Protection Agency; and

• Jeffrey Burnam, Legislative Assistant for Budget, Environment, Housing and Energy, Office of Senator Lugar (R-IN).

EESI briefings are free and open to the public. No reservations are required. For further information, please contact EESI at 202-662-1886.