Oil ShockWave Simulation Highlights Energy Security Vulnerabilities

WASHINGTON, April 28 /PRNewswire-USNewswire/ -- Securing America's Future Energy (SAFE) and the Belfer Center for Science and International Affairs at the Harvard Kennedy School today jointly conducted Oil ShockWave, an exercise in which former high-level government officials led by former Treasury Secretary Robert E. Rubin were forced to contend with a series of geopolitical events that precipitated a worldwide oil crisis. The event also served as the launch of Oil ShockWave: College Curriculum, a box set containing all of the materials necessary for college and university professors to conduct Oil ShockWave in their classrooms.

"This simulation, and the opportunity to bring its lessons to classrooms across the country with the Oil ShockWave college curriculum, will serve as critical tools for emphasizing to policymakers of today and tomorrow the importance of courageous and innovative solutions," Rubin said.

In addition to Rubin, the simulation participants included former Treasury Secretary Lawrence H. Summers, former Congressman Phil Sharp, former White House Press Secretary Joe Lockhart, former Deputy National Security Advisor Meghan O'Sullivan, former Assistant Secretary of Defense for International Security Policy Ashton Carter, and former Executive Director of the President's Foreign Intelligence Advisory Board Joan Dempsey.

The Oil ShockWave scenario began with a terrorist attack that forced the closure of the Bosporus Strait of Turkey. Without that vital shipping lane, more than two million barrels of oil a day were cut off from the world market during peak winter demand. The situation grew worse as terrorists in the Persian Gulf began to target oil infrastructure and western workers there. As a result of the series of attacks, oil prices shot up to $160 a barrel, and gasoline in the United States topped $5 a gallon.

"Tonight's simulation made clear the importance of getting beyond sound bites and parochial interests and taking comprehensive action to limit our energy security vulnerabilities," SAFE President and CEO Robbie Diamond said. "There are no short-term solutions; once a crisis occurs, America's hands are tied."

Securing America's Future Energy (SAFE) is an action-oriented, nonpartisan organization that aims to reduce America's dependence on oil and improve U.S. energy security to bolster national security and strengthen the economy.

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Source: Securing America's Future Energy

CONTACT: Jonathan Grella of Securing America's Future Energy,
+1-202-461-2369

Web site: http://www.secureenergy.org/

2008-04-28 21:26:20 0347058 PRNEWSWIRE