US Congress Holds Hearing on Oil Dependence

But he said the world will become increasingly dependent on oil imports from Africa. “It is important that this country [the United States] encourage good governance in these countries as they produce their oil. It’s very important, not only because it will improve the social and economic circumstances of the citizens of these countries, but also by providing good governance, you will have stability, which will permit oil production that will serve the world’s needs.”

Former CIA Director Deutch said that to reduce American dependence on oil imports, the U.S. government may need to adopt politically unpopular measures such as a tax on gasoline and other petroleum products. “Adopting such a tax would provide not only a dampening of the demand for petroleum products, it would also provide a price signal for the private sector of the need to introduce new technologies that do not rely on petroleum,” he said.

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