Scaling up U.S. energy security

November 5, 2009

Keeping our economy moving will require a diverse set of energy sources.

“The United States has to move very fast to even stand still.”

That reference to the enormous scale of the U.S. economy was made by President John F. Kennedy in 1963. Yet his words could also apply to the scale of energy required to keep the U.S. economy growing in the 21st century.

Every day, Americans use the energy equivalent of about 45 million barrels of oil to fuel transportation, generate electricity, run farms and factories, heat and cool homes and more.

We rely on U.S. supplies of coal, oil, natural gas, renewable energy and other sources to meet this demand, in addition to drawing from a global marketplace — where demand is projected to rise by close to 35 percent from 2005 to 2030.

To achieve energy security in this environment of growing demand at home and abroad, America will need to continue developing all its economic energy options.

One of the most effective and available options is expanding access to oil and natural gas. Together, these sources — whether produced locally or sourced from the global marketplace — meet 60 percent of U.S. needs because they are reliable, abundant and versatile.

Natural gas, in particular, will play an important role. It’s the fastest-growing and cleanest-burning fossil fuel, and experts estimate that the U.S. contains enough natural gas resources to meet current demand for a century. ExxonMobil and others are advancing technologies to safely access and develop these and other natural gas supplies.

The federal government recently lifted some restrictions on developing domestic natural gas and oil resources. However, fundamental regulatory obstacles remain, and many locations remain off limits to responsible oil and natural gas exploration and production. 

Enabling access to these resources would strengthen U.S. energy security by making more domestic supply available to Americans. It also would support the American economy. A recent study shows that developing these resources could generate more than $1.7 trillion in government revenue.

But while domestic oil and gas are essential to our future energy security, they are not enough. Coal, nuclear, wind, hydroelectric and other U.S. sources will continue to play prominent roles, as will the energy that we import — which today comes from more than 35 countries across six continents.

The scale of global energy is enormous — and growing. To continue providing reliable and affordable energy, the United States must pursue policies that encourage the development of all commercially viable energy resources. 

Because when it comes to developing the energy needed for economic growth, America cannot afford to stand still.