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'US energy policy a threat to national security'

Commodity Online
WASHINGTON: America's energy posture constitutes a serious and urgent threat to national security -- militarily, diplomatically and economically, according to a blue-ribbon panel of top-ranking retired admirals and generals.

In a report released on Tuesday entitled "Powering America's Defense: Energy and the Risks to National Security" the military leaders warn that continuing business as usual is perilous and recommend immediate action to address the nation's long-term energy profile. By addressing its own security needs, the Department of Defense can help Lead the transformation of U.S. energy use as an innovation incubator for new energy technologies.

Moving beyond recent studies on the dangers of imported oil, this new report finds that fossil fuels, as well as the nation's fragile electric grid, pose significant security threats to military mission and the country, and are "exploitable by those who wish to do us harm." Issued by the Military Advisory Board (MAB) of CNA, a nonprofit research organization, the report identifies a series of "converging risks" associated with future energy choices, and concludes "diversifying our energy sources and moving away from fossil fuels where possible is critical to our future energy security."

"It's a sobering but honest, and necessary assessment," said MAB chairman General Charles F. "Chuck" Wald, USAF (Ret.). "As military planners and as responsible public servants we cannot turn a blind eye to the dangerous realities of our energy situation. The current recession is no excuse for inaction. If we don't address the fossil fuel issue now, we will see more price volatility, with steeper spikes and shorter cycles between spikes. We are already paying a penalty for not looking into the future."

"There is a relationship between the major challenges we're facing. Energy, security, economics, climate change - these things are connected," former U.S. Army Chief of Staff Gordon R. Sullivan said in the report.

Due to the destabilizing nature of increasingly scarce resources, the impacts of energy demand and climate change are likely to increasingly drive military missions in this century, according to the report. The first priority for the new Administration, the MAB recommends, is to clearly and fully integrate energy security and climate change goals into national security and military planning.

"Increasing demand for, and dwindling supplies of, fossil fuels will Lead to instability. In addition, the effects of global climate change will pose serious threats to water supplies and agricultural production, leading to intense competition for essentials," said MAB member Vice Admiral (ret.) Dennis McGinn, former commander of the U.S. Third Fleet, and deputy chief of Naval Operations, Warfare Requirements and Programs. "The U.S. cannot assume that we will be untouched by these conflicts. We have to understand how these conflicts could play out, and prepare for them."

MCX SILVER MINI 999 29 February 2012 contract was trading at Rs 53755 , up Rs. 265 . What's your view on it?
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