Would it be wise for a country to tap into its oil reserves?
Michael T. Klare is the Five College Professor of Peace and World Security Studies (a joint appointment at Amherst College, Hampshire College, Mount Holyoke College, Smith College, and the University of Massachusetts at Amherst), and Director of the Five College Program in Peace and World Security Studies (PAWSS), a position he has held since 1985. Before assuming his present post, he served as Director of the Program on Militarism and Disarmament at the Institute for Policy Studies in Washington, D.C. (1977-84).
Professor Klare has written widely on U.S. defense policy, the arms trade, and world security affairs. He is the author of Blood and Oil: The Dangers and Consequences of America’s Growing Dependency on Imported Petroleum (Metropolitan Books, 2004), along with many other books. He is also the defense correspondent of The Nation, a Contributing Editor of Current History, and has contrbuted to numerous publications.
Michael Klare serves on the board of directors of the Arms Control Association, and the advisory board of the Arms Division of Human Rights Watch; he is also a member of the Committee on International Security Studies of the American Academy of Arts and Sciences.
Question: Would it be wise for a country to tap into its oil reserves?
Michael Klare: Oh, now this is again very contentious issue. We in this country have built of our strategic petroleum reserve, there are some in Europe, China is just beginning to create one, India doesn’t have one. So, anytime it’s happen to it is bye-bye forever probably, the chances of filling it up again a pretty slight, so I think it would be a mistake to do that except in an extreme emergency and we are going to have lots of those.
Once the reserves are gone, they're gone forever, says Klare.
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