The long march to energy independence: Part 3
Attempts to end the US ‘addiction to oil’ in the early 2000s had some unintended negative consequences
The energy programmes introduced into the US by the administration of President George W Bush between 2001 and 2009 required that renewable fuels, principally ethanol, be substituted for gasoline. After Bush declared that “America is addicted to oil” in a State of the Union address, the rush was on to replace gasoline with renewables. Congress, backed by agricultural interests, quickly passed the Renewable Fuels Act (RFA). By 2021, 10% of the fuel supplied to American consumers was derived from crops rather than crude oil. The Bush regulations boosted corn demand and created an agricultural boom. Data published by the US Department of Agriculture includes details on cash prices and informati
Also in this section
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
19 November 2024
Energy minister says country is delaying first oil production until pipeline and refinery are ready