Most recently, the US Department of Energy released a Draft Comprehensive National Energy Strategy on January 30, 1998. The Secretary was enthusiastic about developing specific action plans, but to date, the DOE has done little to continue the development of a comprehensive policy. We hope that with the heir apparent, Bill Richardson of New Mexico, that we will have a national commitment to developing a proper policy. One lesson we should have learned from the past is that regulation of price and production is counter-productive. Our nation should pursue market-oriented approaches to energy supply and use.
Competitive markets are the cornerstone of a successful energy policy.
Proper recognition can then be given to achieving our economic, environmental and security goals. By themselves, markets won't produce all that we need for energy security, environmental quality and energy research. The role of government should be focused on the important tasks of improving the operation of competitive markets and addressing any inherent limits. The markets guide supply and demand with governments guiding policies that boost security, environmental and research goals. Along those lines, the federal government can oversee national security through such measures as the Strategic Petroleum Reserve, coordinating policies with our international allies, promoting increased domestic energy production, and maintaining military preparedness to respond to world wide hot spots.