Breitling Oil and Gas Morning Podcast #81 May 31th, 2012

Smart energy policy does not exclude resources, especially if the exclusion comes at the cost of the country’s flowing resources.

The investments we make or fail to make really affect the well-being of our people, But you hear a lot of nonsense from both sides, and it’s hard to sort out.

Energy policy matters and, properly tempered, has the ability to free the nation from its need for foreign oil.  Within 12 years, American and Canadian energy supplies could provide 100 percent of U.S. liquid fuel needs with increased biofuel development and the implementation of four straightforward policies.

Those policies include providing access to U.S. oil and natural gas reserves currently off limits, returning Gulf of Mexico permitting rates to pre-moratorium levels, resisting calls to impose new regulations and partnering with Canada on crude exporting projects like the Keystone XL pipeline. In 2011, 52 percent of U.S. crude oil and petroleum products came from the Western Hemisphere and 22 percent came from the Persian Gulf countries of Bahrain, Iraq, Kuwait, Qatar, Saudi Arabia and United Arab Emirates, according to the U.S. Energy Information Administration.

The nation’s largest sources of net crude oil and petroleum product imports were Canada and Saudi Arabia. U.S. dependence on imported oil has declined since peaking in 2005, according to the EIA.

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