Energy

Energy: –

Recent developments and advancements in the domestic energy sector have greatly enhanced U.S. energy security. Newfound access to vast oil and natural gas reserves made possible by advances in hydraulic fracturing technology, the rapid expansion of power generation from renewable energy sources, and improvements in energy efficiency are providing American’s with unprecedented access to abundant, reliable, and affordable energy. Nevertheless, the lack of a coherent national energy strategy, flawed energy markets, and aging infrastructure pose an acute risk to future U.S. energy security. To address these risks, the U.S. must pursue four key imperatives to preserve U.S. long-term energy security.

The United States must…

Imperative 1: Employ diverse energy solutions
Imperative 2: Modernize and expand its energy infrastructure and distribution system
Imperative 3: Maintain a competitive advantage in technological innovation
Imperative 4: Develop a new energy strategy that increases energy security, bolsters foreign relations, and strengthens its economic base

The global energy industry is beset with paradoxes which make constructing a national energy policy problematic. In the industrialized world, the development and sustainment of energy resources for agriculture, transportation, electricity generation, and both industrial and residential use are inextricably linked to the development of a modern society and prerequisites for status as a developed nation. To an ever-increasing extent, the quest to provide an adequate supply of energy to meet a growing global demand “is the lifeblood of the global economy.” Yet, despite the benefits, comforts, and wealth manifest through the development and maturation of energy resources, the production and use of our global reserves can also have negative impacts.

Changes in price can tip economies into recession or bolster economic growth. Revenue windfalls can enrich nations or be a curse that feeds corruption and weakens economies. Energy is a source of geopolitical influence, but also vulnerability. It can motivate conflict or cooperation. Energy keeps food and medicine refrigerated; illuminates the night for study, safety, and work; enables global transportation and communications. Yet it can also despoil the air we breathe and the water we drink, as well as harm our lands and oceans.

The ability to move society and civilization forward through the responsible development and use of globally shared, finite, and precious energy commodities requires trade-offs. It requires asking tough questions, and making even tougher choices, while navigating a dynamic and volatile geostrategic environment as well as uncertain political and regulatory environments. As a highly developed and industrialized nation, the U.S. is a global leader in the production and supply of energy. Surpassed by China in 2009, the U.S. is currently the second largest producer of energy, producing 2.20 thousand Mtoe (Million Tonnes of Oil Equivalent) per year. Similarly, it is no surprise the U.S. is also a voracious consumer of energy. Behind only China in this category as well, the U.S. consumes around 1.54 thousand Mtoe per year. Described in different terms, in 2014 the International Energy Agency (IEA) estimated the “world total primary energy consumption was about 539 quadrillion British thermal units (Btu), and U.S. primary consumption was about 98 quadrillion Btu, equal to 18% of world total primary energy consumption.”

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