U.S. Official Outlines Western Hemisphere Energy Security Issues

Harbert told the panel that the United States is committed to working with its hemispheric partners to overcome these challenges and to foster an era in which the common goal of hemisphere-wide energy security can be realized. To attain the most efficient development and use of energy in the region, she said, hemispheric nations' efforts to achieve energy security must include commitments to market-based pricing and open investment to assure that each country reaches its full potential. "We believe that a strong, stable and prosperous hemisphere is created by all countries basing their energy development, transportation and use on market reliance; by allowing for private capital to ensure optimal development; and by using the best technologies and a broad range of energy resources to give consumers the best choices," Harbert said. Harbert added that adopting the right energy policies will make a real difference in each hemispheric nation's effort to achieve energy security and prosperity, but she acknowledged that these policy choices represent political challenges in many countries. She also expressed concern that statist policies will inhibit energy development. "Energy security depends on the choices countries make, and we are concerned that some of the countries in our hemisphere are making choices that will not optimize the development of energy resources," she said. "Moves to restrict foreign investment and implement or increase the reach of state-run energy industries limit their ability to access capital for investment, restricting the development and access to energy supplies and infrastructure." Harbert also said that U.S. partnerships with Canada, Mexico, Brazil, Colombia, Peru, Central American countries and Trinidad and Tobago demonstrate the rewards that foreign investment and market-based energy policies can bring. She added that although other hemispheric nations may opt for more statist energy-development models, such policies will come with a cost. "It is a model that may hold patriotic appeal, but delivers less prosperity to citizens," she said. [long article, but well worth the read.] http://www.allamericanpatriots.com/m-news+article+storyid-14383.html

Note: http://www.allamericanp...