Energy Policy: Opportunities and Self-Inflicted Wounds

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The United States is now the world’s leading producer of oil, gas, and coal thanks to advancements in technology, particularly the revolutionary fracking technique for extracting oil and gas from shale rock. Despite dire predictions from the past, the world has ample energy resources, and the current concern is overproducing fossil fuels. The US has a unique energy market characterized by private mineral rights ownership and a robust capital market, fostering innovation and competition in the oil and gas industry, with small independent producers playing a significant role in the Shale Revolution. While embracing emerging technologies presents opportunities, it also raises concerns about potential damage to the US energy infrastructure and the ability to export fossil fuels.

To effectively produce and export energy, the United States should remove barriers by promoting pipelines and export terminals, avoiding burdensome regulations, and not prioritizing carbon dioxide emissions as the sole metric for energy policy. This approach will unleash American production, ensuring reliable and affordable energy while supporting environmental protection and economic growth. By embracing the reality that hydrocarbons will continue to play a central role in energy consumption, the United States can maintain its position as a leading global supplier and contribute to geopolitical stability.

Read more about energy policy at the National Center for Energy Analytics site.