Oil is one of the world’s most durable global commodities. With few ready commercial substitutes, its extraordinary staying power is demonstrated by its enduring energy sector dominance, even as market prices fluctuate dramatically and geopolitical disruptions strike.

Reducing emissions through innovation is technically feasible, and despite a regulatory focus on other fossil fuels, oil will increasingly offer ways to mitigate climate change.

Energy security is critical to a whole range of public policy objectives, but it cannot be successfully addressed in isolation from other policy aims.