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State of American energy: Part 2

Hydrocarbon Engineering,

In Part 1 Gerard spoke of the US election and the importance of energy policy, as well as America’s position in the global energy market. Below are further extracts from the remainder of his speech.

America’s energy renaissance

‘Those on the side of America’s 21st century energy renaissance have a few considerable advantages, starting with the facts.

‘Fact: Today, thanks to hydraulic fracturing and horizontal drilling or what some like to simplistically refer to as ‘fracking,’ the US is the number one producer of oil and natural gas. Just this year, North Dakota produced more than a million barrels of oil a day, which if it were a country, would rank it among the top 20 oil producing nations in the world.

‘Fact: US production of crude and natural gas liquids has increased by over 2 million bpd in the last two years, an almost 27% increase.

‘Fact: According to the EIA, in 2001, 1% of our natural gas supply came from shale. In 2010 that percentage grew to 20% and, by 2035, it is expected to grow to 45% thanks in large part to our technological leadership, which the rest of the world is trying to emulate.’

‘Fact: According to the latest Census date, the oil and natural gas sector contributed more than US$ 129 billion in exports during the first 11 months of 2013, leading all other sectors and accounting for 8.9% of the total balance of exports.’

‘And here’s one more fact, the American people get it and stand with us on today’s most important energy policy questions. They understand that pro growth energy policies will translate into millions of stable, good paying jobs, which would go a long way to lowering unemployment and shrinking the income inequality gap, which is shaping up to be a central theme in this year’s midterm elections.

What’s America thinking?

‘It is a little wonder that, according to recent polls, most Americans, 77%, want to see this nation increase production of domestic oil and natural gas resources. 92% of American voters agree that increased production of domestic oil and natural gas resources could lead to more jobs in the US. And on perhaps the highest profile issue within the American energy policy discussion, 69% of voters support building the Keystone XL pipeline.’

‘Broadly, the Keystone XL pipeline debate highlights the need to invest in our nation’s infrastructure today to support job creation, economic growth and increased government revenue. In fact, a recent study by IHS Global, an annual average energy infrastructure investment of up to US$ 95 billion would contribute as much as US$ 120.58 billion to US GDP; support as many as 1.15 million jobs and provide an additional US$ 27.45 billion in government revenues on average, annually between 2014 and 2025.’

America’s Energy, America’s Choice

‘As we look ahead to November’s midterm election and beyond, we will use the America’s Energy, America’s Choice campaign to spur more pro energy policies and to ensure that our nation’s discussion on energy policy is based on fact and reality, not political orthodoxy and hyperbole. What’s more, there is another fact on our side: The benefits that America’s energy revolution has already delivered. The best example being the significant reduction of America’s CO2 emissions, which are at their lowest levels in nearly 20 years, thanks largely to the abundant supply of cleaner burning natural gas, a direct result of innovations in hydraulic fracturing that have also made the US the number one producer of natural gas. Further, since 2000, the oil and natural gas sector has spend more on low and zero carbon technologies than the federal government and nearly as much as all other industries combined.’

‘What we want and what the American people deserve is energy policy that continues the trend of our nation becoming energy self sufficient and a global energy leader. The America’s Energy, America’s Choice campaign sends a message to lawmakers at all levels of government that the time to end the intrusion of extreme political ideology or personal agendas in the energy public policy debate is now; and that the only limits on our nation’s energy potential will be self imposed by short sighted, politically motivated energy policy decisions.’

‘America’s Energy, America’s Choice will harness the collective will and wisdom of the American voters to lead the discussion on our nation’s bright energy future and to better align our nation’s political science with our geologic science, because right now the former all too often drives energy policy. It will use the upcoming midterm elections as a means to frame and positively influence the long term energy policy discussion.’

‘Our goal is to ensure that as our elected representatives and appointed officials make energy policy, the will of the American people is uppermost in their minds and the dominant voice in the energy public policy discussion. And to make clear the link between developing America’s vast energy resources and greater energy independence, job creation and economic growth.

‘Fundamentally, America’s Energy, America’s Choice will make plain the energy policy choice we face: Do we more fully develop our enormous energy resources so that future generations inherit an energy self sufficient nation that’s THE world’s leader in energy production? Or do we take a step back to a time when America was but one of many players on the world energy market?’

Adapted from a speech by Claira Lloyd.

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