HOUSTON — It may be time to pluck that old cardigan out of the closet.
President Jimmy Carter wore one as he delivered a televised address in February 1977 when he told Americans the country had reason to be worried about its habitual reliance on foreign oil — and maybe they should turn down the heat. In April, he warned that with its resources shrinking the country faced “a problem that is unprecedented in our history. With the exception of preventing war, this is the great challenge our country will face during our lifetime.”
Today another American president faces rising fuel prices, spurred by a challenge mostly out of his control, an invasion of Ukraine by Russia, a top oil and gas producer intent to use its energy supplies as a weapon when necessary.
Americans realized 45 years ago that the United States had an energy dependence problem, and the nation’s long pursuit of “energy independence” did lead to a boom in domestic production and some conservation measures. It may have seemed that the country solved its dependence issues. It didn’t, and energy and geopolitics are connected today as much as ever. Americans are paying more than $3.50 a gallon for gas, roughly a dollar more than a year ago, and Russian tanks only just began to roll.
“The great challenge” stubbornly remains with us as a problem that is managed, but never quite solved. As Russian troops fan out across Ukraine, the United States and its allies are reluctant to impose sanctions on Russian energy so not to hurt their own economies. Alternatively Russia could turn off the taps to pressure the West. Either way everyone is hurt.
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