ENERGY INSECURITY?

Seems like these guys haven't been watching oil price fluctuations much.

Energy security fears overblown
April 5, 2007 (UPI)

WHO
Professors Eugene Gholz and Daryl G. Press of the Washington, D.C. libertarian Cato Institute think tank.

WHAT
U.S. fears over energy security, especially those based on peak oil theories, ideas about oil supplies at risk of delivery disruptions in hostile regions and oil supplies lost to global competition, are exaggerated, according to the professors.

WHEN
The professors are describing present and foreseeable energy markets.

WHERE
Gholz: Assistant professor of public affairs, LBJ School of Public Affairs, University of Texas at Austin. Press: Associate professor of government, Dartmouth University.

WHY
The professors contend that market forces guarantee a continuing energy supply at affordable prices. Energy, especially oil, will find its way to its market, there will be investment in unstable regions to service the market, peak oil models are called “dubious” and large emerging power efforts to take over the market would be irrelevant or advantageous for the U.S.

QUOTES
- Gholz and Press: "Each of (the) fears about oil supplies is exaggerated, and none should be a focus of U.S. foreign or military policy…"
- “The writers say that political instability in the Persian Gulf region poses few dangers and the U.S. military presence there adds to the problems rather than solves them.”