Rhetoric VS. Reality
Policy-makers are talking a lot about energy and energy policy. What fallows are some of the most frequently heard claims and proposals, along with realities that need to be considered when evaluating these claims.
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Access to Energy
Increasing access to domestic sources of oil and natural gas is vital to putting our nation on the road to economic recovery and to meeting the energy needs of American consumers.
The Gulf of Mexico oil spill is tragic, and steps are underway by both the government and industry to prevent such a future accident from occurring, and to reduce the risks of offshore drilling. But in spite of the accident, our nation’s demand for energy is growing, and we will need more oil and natural gas to meet that demand in the coming decades. A recent ICF International study shows that more access to domestic energy resources could generate between $1.3 trillion and $1.7 trillion in government revenue, create thousands of new jobs and enhance America’s energy security by significantly boosting energy production. Offshore development—particularly deepwater production in the Gulf of Mexico—plays a crucial role in meeting this demand. Approximately 30 percent of the nation’s total domestic oil production and 13 percent of domestic natural gas production comes from the Gulf of Mexico, which is where a majority of the nation’s offshore development takes place. Eighty percent of the oil and 45 percent of the natural gas produced there is from deepwater exploration. Americans need policies that will allow U.S. companies to develop oil and natural gas resources here in the United States. Lawmakers should know this can all be achieved in harmony with the environment. Since 1980, less than 0.001 percent of oil has been spilled from daily production, far less than the amount released into the ocean from natural seepage. Through the industry’s advanced technology, offshore drilling is able to coexist in the ocean. The administration and Congress should listen to the American people, and create the energy policy this nation needs.
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