Petroleum

An expert's point of view on a current event. Congress Must Create a Strategic Power Equipment Reserve. A backup supply of electrical grid equipment is needed ...

Creating a full-fledged power equipment reserve should remain a priority for the new Congress—in the interest of U.S. The availability and affordability of power is impacted more by the ability to generate and deliver electricity in real time at a local level than by the global market dynamics and conditions that affect fossil fuels. This is reflected in much of what was included in both the [coordinated and repeated attacks](https://www.economist.com/europe/2022/10/24/ukraine-races-to-stop-russia-from-destroying-its-power-grid) on Ukraine’s power system, causing massive blackouts and leaving as much as [25 percent](https://www.who.int/europe/news/item/21-11-2022-statement---winter-in-ukraine--people-s-health-cannot-be-held-hostage) of the country’s population without power as temperatures routinely drop below freezing. transmission capacity alone must expand [60 percent](https://netzeroamerica.princeton.edu/img/Princeton_NZA_Interim_Report_15_Dec_2020_FINAL.pdf) by 2030 and triple by 2050 to meet Washington’s clean energy and decarbonization goals. The savvy use of global oil stocks has been essential in advancing global energy and security interests for the last four decades. The world’s largest economies, under the aegis of the International Energy Agency, coordinate strategic petroleum stockpiles to manage emergencies and disruptions in the global oil market. Yet it remains theoretical despite the current global economic transformation in which electricity is becoming a more important part of the world’s energy mix. transmission network, no surefire way exists to secure these assets in place given the scale and complexity of the grid. At the same time, Russia’s invasion has [strengthened](https://abcnews.go.com/Politics/ukraine-war-expected-accelerate-clean-energy-transition-report/story?id=92201504) U.S. But such a future will necessitate new energy security measures to ensure that grids can operate in even the most difficult of conditions. [millions of Ukrainians](https://www.hrw.org/news/2022/12/06/ukraine-russian-attacks-energy-grid-threaten-civilians) without electricity, heat, and water during the winter.