AMERICA’S ENERGY FORUM Bringing experts and verifiable facts to the energy discussion

Energy Security

The demand for oil and natural gas is rising fast. 

The U.S. Energy Information Administration estimates that the world will need an expansion of about 24.5 million barrels of oil per day just to keep up with global economic growth.  Natural gas demand is also expected to increase by 45 percent between now and 2035. 

Unfortunately, right now we’re relying more and more on acquiring our oil from foreign partners — many of whom don’t share America’s national interests.  In fact, in 2010 the United States spent $72 billion more on imported oil than we did in 2009, according to the Institute for Energy Research.

That’s why increasing development and production of North American energy resources — especially those off our shores — is so vital.

We can continue to import this energy from abroad — or we can tap our resources here at home. We have enough North American oil and natural gas resources to power 65 million cars for 60 years and heat 60 million households for 160 years.

Further, increased reliance on foreign sources of oil hurts our energy security, because global crises lead to less reliability and more supply disruptions.  These disruptions lead to rising energy prices.

Rising energy prices don’t just mean more pain at the gas pump — they also mean that American employers are spending less money on investing in new jobs.  Consumers also have less money in their wallets to spend on American-made goods and services.

More North American energy production will lead to greater energy independence, which is the key to fueling American jobs, growth and prosperity.

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Um.....oil from Virginia vs. oil from the Middle East? How is there even a debate about this? American jobs, American energy.

Posted on August 12, 2011