To Have and Have Not: Energy security vs energy independence in a world awash in cheap oil

Here’s the crude oil trade through the South China Sea and for those who thought that perhaps it was only LNG that flowed through this region, and that this is not a region dependent on imported oil, here’s the oil flow. Here you see on the left a lot coming from the Persian Gulf and a lot going to our friends and allies in Asia-Pacific, and with nations with who we are engaged here, and nations who have a right and a need to grow their economies.

This is an area of real opportunity but also one of real risk.