U.S. Now Ranked 4th of 25 in Energy Security Due to Shale Revolution

Tuesday, July 5th, 2016 and is filed under Uncategorized

In a report released on June 7th by the U.S. Chamber of Commerce, the United States is now ranked 4th (from 6th the previous year) of the 25 largest energy using nations in energy security. This is due largely to the great successes and future potential production of America’s shale revolution.

Exponential increases in regulation, attempts to turn public sentiment against more innovative ways of extracting energy, and actions by Saudi Arabia to squash shale energy in the global market could have set American energy security back for many years. But instead, American energy production has exceeded many expectations and is poised to maintain its new buoyancy for decades to come.

With this increase in energy security and the very real possibility of long term price stabilization, the U.S. is positioned well to regain its lead in energy production, manufacturing and exporting.

According to Karen Harbert, the President and CEO of Institute for 21st Century Energy U. S. Chamber of Commerce:

• American industry pays two to four times less for natural gas, coal, and electricity than many of its global competitors.
• This fact increases its competitiveness versus Japanese and European markets, particularly in energy intensive manufacturing.
• Burdensome regulations in Europe and the shutdown of the Japanese nuclear capacity after Fukishima are driving their corporations to find cheaper energy sources. (United States)

Continued innovations and increases in United Stated oil and natural gas production will drive stability into the world fossil fuel marketplace.

Harbert also noted:

• U.S. energy producers are incredibly nimble, and through the use of advanced technologies, they are able to constantly lower the price point at which oil and natural gas can be produced profitably.
• The lifting of the ban on crude oil exports also should result in greater U.S. participation in global oil and natural gas markets on the supply side, which would act to limit the use of energy as a geopolitical weapon and smooth out volatility.

The data are showing that the innovation and wherewithal of United States oil and gas producers has moved the nation into a leading, and much more stable role, in the global energy marketplace. The smart money would get into the thick of it here and now.

>> Related: What’s the problem with fracking and energy independence?

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