MAY 14, 2014

U.S. is largest producer of 'political gas' while leaving huge energy reserves untapped

Bureaucrats instead focus on 'green' energy schemes
Bookmark and Share

WASHINGTON, D.C. – "The U.S. is arguably the world's largest producer of 'political gas' at a time when we need real sources of energy if we are to quicken the pace of job creation and reinvigorate our sluggish economy," according to Dan Weber, president of the Association of Mature American Citizens. 

"What is frustrating is that we are sitting on proven energy reserves that could put us back in the game as the world's leading power broker in more ways than one can imagine."

He pointed out that if America were willing to tap our known oil reserves and do away with natural gas export restrictions, it would help us regain control of the global energy market.  "This would enable us to achieve total energy independence and foreign policy successes instead of failures.  We'd level the playing field in the Middle East and elsewhere.  For example, our ability and willingness to replace Russia as Europe's prime provider would certainly stand us in good stead in the current foreign policy showdown between President Obama and President Putin."

Weber cited independent research provided by energy experts at Forbes Insights and the CIT Corporate Finance group.  Their studies show the "overwhelming majority of industry executives predict energy independence in the U.S. in as little as ten to 15 years, if the government begins to play ball."

He noted the focus that "bureaucratic ideologues have placed on green energy have inhibited home grown energy production. The government would argue that there's been a significant increase in oil and gas production, he said, but the growth has all come from resource recovery on private land.

In fact, a report issued just a few weeks ago by the non-partisan Congressional Research Service stated that: "Non-federal crude oil production has been rapidly increasing in the past few years partly due to favorable geology and the relative ease of leasing from private parties, rising by 2.1 million barrels per day (mbd) between FY2009-FY2013, causing the federal share of total U.S. crude oil production to fall by nearly 11 percent."

Meanwhile, Senate Majority Leader Harry Reid this week blocked another effort to pass legislation in that body giving a green light to the construction of the Keystone Pipeline, a project has broad-based support and the potential of creating tens of thousands of jobs.

Weber concluded that "a lot has happened in recent years to improve energy development prospects for the country.  The U.S. is now the largest producer of natural gas in the world and our reserves of crude oil are growing by leaps and bounds due to improved exploration techniques.  Creation of alternative fuels is a commendable goal, but it will take decades to become a reality-time we can't afford while there are so many people out of work, while our national debt soars unchecked, while our economy is in dire need of a jump start and while our allies and our enemies around the world sneer at our fumbling foreign policy forays."

He said that he is confident that the U.S. can "retake the initiative on all fronts, if new faces are in the next Senate after this fall's elections."

readers love sonoran news