Energy Security: Evaluating U.S. Vulnerability to Oil Supply Disruptions and Options for Mitigating Their Effects

Pursuant to a congressional request, GAO reviewed the effectiveness of the Administration's 1995 National Energy Policy Plan (NEPP) in reducing the vulnerability of the U.S. economy to oil supply disruptions and price shocks, focusing on: (1) the economic benefits of importing oil compared with the potential economic costs of vulnerability to oil shocks; (2) the extent to which the U.S. economy's vulnerability to oil shocks will likely change over time given the programs and policies contained in the Administration's 1995 NEPP and other relevant factors; and (3) options for reducing the economy's vulnerability to oil shocks.