Keystone Energy Forum

Balanced Energy

We live in an increasingly complex world in which reliance on foreign energy sources is a threat to our energy security — and national security.

The solution includes using energy more efficiently, building a diverse supply of energy sources, and developing new technologies that maximize the use of types of energy that also lower greenhouse gas emissions.  What many people do not realize is the oil and natural gas industry is deeply involved in all of these areas.

The industry has been making major investments in new technologies and alternative forms of energy for years.  In fact, during the period between 2000 and 2008, the industry invested $58.4 billion new low and zero emissions technologies. That’s almost half of the total U.S. industries and government investments combined — and almost $40 billion more than the federal government invested during that same time period.  (Source: Key Investments in Greenhouse Gas Mitigation Technologies by Energy Firms, Other Industry, and the Federal Government: An Update)

Development of new technologies and alternative sources, however, are not enough to meet increased energy demand.  According to the U.S. Department of Energy Energy Information Administration, Annual Energy Outlook, "Renewables grow rapidly, but under current policies fossil fuels still provide 78% of U.S. energy use in 2035".

We can continue to satisfy our demand for oil and natural gas by purchasing it from foreign partners — or we can begin to tap the vast North American energy resources that lie under our feet and off America’s shores.