Energy sector said on verge of chaos

May 22, 2012 | 10:03 AM | Corinna Petry

Tags  John Hofmeister, Citizens for Affordable Energy, AISI, American Iron and Steel Institute, Metal Service Center Institute, oil, energy system, Corinna Petry

CAMBRIDGE, Md. – The nation’s energy system is "just short of chaos" and the United States could be a mere three years away from gas lines if something doesn’t change, according to John Hofmeister, founder and chief executive officer of Citizens for Affordable Energy.

"We have transferred wealth and fortunes out of the United States to build the economies of numerous countries due to a decision not to extract crude oil domestically and instead export the risk," he said Monday at the joint annual meeting of the American Iron and Steel Institute and Metal Service Center Institute, adding that he wants to see the United States produce 10 million barrels of crude oil per day like it did....

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