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The Environmental and Energy Study Institute sponsored a Congressional briefing on how renewable energy and energy efficiency technologies are the missing link in the energy crisis debate. There has been relentless media attention on alleviating the tight supplies of natural gas and home heating oil, reducing energy prices for American consumers, and maintaining a reliable energy system. To date, the focus has been on increasing oil and natural gas supplies.
Home heating oil inventories are at historically low levels and crude oil prices recently reached nearly $38 a barrel. According to the Department of Energy, inventories of heating oil last week were at 48.1 million barrels, down from 72.4 million barrels a year ago. Natural gas inventories are also at very low storage levels and consumer prices could increase by more than 50 percent this winter. And after a summer of high electricity bills (prices more than doubled) in San Diego, and major concerns about reliability of the electric power sector in California and in other regions of the United States, this is a crucial time to re-evaluate our current energy resources, consumption, and strategies.
On Friday, September 22, President Clinton released 30 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) to ease tight oil supplies and reduce prices. Oil was last released from SPR in 1991 during the Gulf War. Numerous hearings have been held in both the Senate and House due to energy supply concerns. However, very little attention has been focused on key solutions to addressing this energy crisis through a greatly expanded role for renewable energy and energy efficiency technologies. The distinguished panel addressed these technologies and their role in reducing U.S. dependence on foreign oil, strengthening national security, decreasing energy consumption, reducing energy bills, diversifying the nation’s energy mix, preventing pollution, protecting the environment, and enhancing local economic development.
Speakers: