Energy Hearings in the 109th Congress

Senator Lugar convened the Senate Foreign Relations Committee on June 29, 2006 to hear from experts regarding Russia’s recent energy policies. These policies have raised energy security concerns among Euro-Atlantic importers and have affected both U.S.-Russia relations and Russia’s role in the G-8. That state-controlled firms dominate Russia’s domestic electricity (United Energy Systems, UES) and natural gas (Gazprom) production and distribution sectors was of particular concern. The possible Russian use of energy resources as instruments of economic coercion was also discussed.

Testimony:

Energy Security in Latin America
June 22, 2006

Senator Lugar convened the Senate Foreign Relations Committee on June 22, 2006 to examine the rise of resource nationalism in several Latin American countries, and the effects of resource nationalism on U.S. access to the production of energy resources in the region. The following recent developments were discussed: increased government control over foreign investment in oil-rich Venezuela’s petroleum sector; Ecuador’s move to capture more of the windfall profits from foreign oil companies operating in the country; the election of Peruvian President Alan Garcia, a supporter of Venezuela’s Hugo Chavez; and declining oil reserves and insufficient funds for maintenance and exploration in Mexico.

Testimony:

Oil Dependence and Economic Risk
June 7, 2006

Senator Lugar convened the Senate Foreign Relations Committee on June 7, 2006 to consider the consequences of dependence on oil imports for U.S. diplomacy, security, and economic prosperity. Topics that received special attention included: the economic risks to the United States and other global economies stemming from oil dependence; the potential of natural events and the investment decisions of oil-rich governments to destabilize the market price of oil; and the connections between oil price and GDP growth in oil import dependent countries.

Testimony:

Energy Security and Oil Dependence
May 16, 2006

Senator Lugar convened the Senate Foreign Relations Committee on May 16, 2006 to examine strategies for reducing dependence on oil. Because of its implications for national security, and the effects of fossil fuels on the global climate and air quality, interest is increasing in the development of alternatives. Thus, witnesses discussed some goals for production of alternative fuels and increased efficiency that could potentially displace oil use.

Testimony:

The Hidden Cost of Oil
March 30, 2006

Senator Lugar convened the Senate Foreign Relations Committee on March 30, 2006 to address the costs attributable to U.S. oil consumption that are not accounted for in the market price, with particular emphasis on the costs of imported oil. Witnesses focused on quantifying monetary estimates of the economic, military, and environmental costs (particularly the risks of climate change) to the United States.

Testimony:

2005 Hearings

High Costs of Crude: The New Currency of Foreign Policy
November 16, 2005

Senator Lugar convened the Senate Foreign Relations Committee on November 16, 2005 to spotlight the complexity of U.S. reliance on imported energy sources, particularly oil. High crude oil prices enrich and embolden oil gas producing countries around the world—at times at the cost of U.S. interests. Panelists addressed the scope of US oil dependence; the economic, political, and security costs of that dependence; and possible paths toward greater energy independence.

Testimony:

Energy Trends in China and India
July 26, 2005

Senator Lugar convened the Senate Foreign Relations Committee on July 26, 2005 to examine the implications for the United States of economic development and growing energy needs in China and India.

Testimony: