Why are energy prices so high?

An excerpt from a speech delivered by Secretary of Energy Samuel W Bodman to the US Energy Association is presented. Like oil, the US once produced all its gas domestically, but we now must import substantial quantities. This has prompted increasing calls for exploration in new areas, for building n...

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Bibliographic Details
Published in:Business perspectives (Memphis, Tenn.) Tenn.), 2005-03, Vol.17 (1), p.2
Main Author: Bodman, Samuel W
Format: Article
Language:English
Subjects:
Emissions
Energy conservation
Energy management systems
Energy resources
Energy shortages
Environmental impact
Fossil fuels
Natural gas
Nuclear energy
Oil exploration
Prices
Prices and rates
Private banking
US imports
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Summary:An excerpt from a speech delivered by Secretary of Energy Samuel W Bodman to the US Energy Association is presented. Like oil, the US once produced all its gas domestically, but we now must import substantial quantities. This has prompted increasing calls for exploration in new areas, for building new processing and transportation infrastructure, and for boosting our capacity to import liquefied natural gas. We also are pursuing ways to make electricity and transportation fuel without fossil fuels to help reduce emissions, reduce our dependence on foreign oil, and keep more of our energy dollars here at home. These include renewable motor fuels such as ethanol, bio-diesel and clean diesel. Another important way to meet our growing energy needs without depending on fossil fuels is expanding our use of nuclear power, which already produces about 20 percent of America's electricity.
ISSN:0896-3703