Power: IEA Chief: U.S. Energy Security “Golden Age” Is an Illusion
Optimism about U.S. energy security, which is rooted in the abundant supply of fossil fuels alone, is misplaced, Maria van der Hoeven, head of the International Energy Agency (IEA) told attendees at an energy conference in Washington, D.C., on Monday.
The U.S. has seen a dramatic reversal in its energy fortunes over the past seven years that has sent imports falling, product exports surging, and a boom in natural gas production—”so much so that it is muscling out other sources of power,” the IEA’s executive director said in a keynote address at the 2014 Energy Information Administration’s (EIA) Energy Conference.
However, the traditional definition of energy security, entrenched in “security of supply of fossil fuels,” is “woefully outdated,” she argued. “Although things look bright, this is no time for complacency.”