The revolution in oil and natural gas development in the US has spurred economic growth and new job creation while turning the nation into an energy superpower, according to Karen Moreau, Executive Director of American Petroleum Institute’s (API) New York State Petroleum Council. She has said that the US has the ability to realign the energy axis toward the west with America leading the way.
Comments from Moreau
‘The US has long been one of the world’s energy leaders, among the most preeminent in terms of energy resources, energy technology and energy production. Bur over the past half century its dominance in energy was challenged. It became more dependent on other nations’ energy resources and saw its own oil production decline. It became less a force in world energy markets. And the trend going forward looked unpromising given US energy reserves that some said could nowhere near match America’s long range needs.
‘But in a matter of a few years, the trends have reversed. There is a new energy reality of vast domestic resources of oil and natural gas brought about by advancing technology. They have helped put the US in a position to become a global superpower on energy. For the first time in generations, we are able to see that our energy supply is no longer limited, foreign and finite; it is American and abundant. And that puts us well on our way to returning the US to the position of undisputed global leader in energy. If we seize that opportunity now and support it with sound policy decisions on taxes, regulations and access, we can lead on energy for decades and realise the economic and energy security benefits of that leadership.’
Edited from press release by Claira Lloyd.
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