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American Oil & Gas Needed to Solve our Energy Dilemma
By Edward P. Cross, President of Kansas Independent Oil & Gas Association
The demand for energy in the U.S. is ever growing. Record-high energy costs impact our economy, national security and everyday lives. We need to find more and different sources of energy and we need to be efficient and conserve. But, we cannot ignore the essential role that American oil and natural gas must play.
American energy companies are currently restricted by the federal government in the areas where the greatest resources could be found. Ninety percent of the deep sea is off-limits, including 300 trillion cubic feet of natural gas and 50 billion barrels of crude oil. This alone could replace current levels of oil imports from the Persian Gulf for the next 59 years.
As it stands, 65% of our nation’s oil supply comes from foreign and often unstable countries. We often hear that we should continue to import oil instead of pursuing our own reserves in areas currently under moratoria, like areas off the east coast, west coast, eastern Gulf of Mexico, Rocky Mountain areas, and the Alaska National Wildlife Refuge. Many Americans may not realize the full costs of oil imports. Many foreign oil producers are state-owned companies that use the money we pay them for their oil to promote anti-American ideas.
Wouldn't it be prudent to reduce our exposure to Middle East instability, civil unrest in Nigeria, political uncertainty in Venezuela, and accidents or natural disasters anywhere in the world? It is a shame that policies deny Americans the opportunity to produce their own natural resources, further increasing our foreign dependency and vulnerability.
Those opposed to tapping America’s resources argue that energy exploration poses a significant environmental risk often citing a 1969 spill. But let’s jump ahead 38 years to the present where technology has revolutionized exploration and production. Today, enhanced safety technologies along with strict adherence to government regulations ensured that virtually no oil or natural gas was spilled as a result of the devastating Hurricanes, Katrina and Rita, in 2005.
When all other countries including those with the most rigorous environmental restrictions allow their resources to be developed, we stand alone in forbidding the development of ours.
To reduce our dependence on Middle Eastern oil and other foreign energy sources, America must embrace all forms of American energy for the future – wind, solar, biomass, nuclear and fossil fuels. Today, fossil fuels provide over 80% of U.S. energy supply and oil and natural gas will supply two-thirds of our nation’s energy needs 20-25 years in the future. The fact remains, that for the foreseeable future, oil and natural gas will be our main fuel source.
Fortunately, U.S. oil and natural gas companies are diverse and are ready to get to work to find new energy supplies here at home. Smaller, independent oil and natural gas companies already develop 90% of our nation’s wells and produce 82% of American natural gas and 68% of the crude oil. And there’s a lot more to be safely found.
Our nation needs a comprehensive energy strategy that includes conservation, efficiency, alternatives, oil and natural gas. Out of absolute necessity, American oil and natural gas production must provide us with a bridge to our alternative energy future. Ignoring the problems of today while we search for the perfect tomorrow is a sure formula for economic disaster. A “Just Say No” energy policy that extends to all viable energy supply solutions, including nuclear energy, hydroelectric projects, coal, oil, and natural gas is simply unworkable. Americans deserve more than talk about what won’t work. This country needs energy solutions and it should begin with freedom of American companies to develop American natural resources.