The U.S. Chamber of Commerce’s Institute for 21st Century Energy recently unveiled the “first-of-its-kind” Index of U.S. Energy Security Risk. The U.S. Chamber in general does a lot of good work. I am a big fan of them than when they push for free-market capitalism instead of political capitalism, which is not always the case. But this report is disappointing to say the least. A thorough start-over should be considered.
The report, in its own words, provides “the first quantifiable measurement of energy security based on 37 individual metrics.” But herein resides a major problem. With so many inputs for calculation, a definition of security is required.
But there is no such definition. We learn that the Index “addresses the need for an overarching framework with which to measure energy security in all its facets” (page 14).…