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In recent years, some people have tried to use energy as an issue to divide Americans and block progress. But that’s shortsighted.

Manufacturers have encouraged the development of energy resources and infrastructure construction not just because it creates jobs and generates state and local revenue, but because it provides Americans with an abundance of resources used to fuel our nation’s economy and give us a competitive advantage. The Dakota Access Pipeline, for example, has already created a rush of new jobs in North Dakota, and the state’s energy production is hitting record levels.

America’s investment in energy is paying off, according to a new report from the IEA:

The U.S. is likely to overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday.

U.S. crude production is expected to reach a record of 12.1 million barrels a day in 2023, up from 10.6 million a day this year, said the International Energy Agency, which advises governments and corporations on industry trends. American oil output will surge past Russia, currently the world’s largest crude producer at roughly 11 million barrels a day…

The IEA’s closely watched five-year forecast showed the U.S. hitting new strides in its oil and natural-gas boom, helped by technological advances, improved efficiency and a fragile recovery in oil prices that is encouraging shale companies to ramp up their drilling.

According to the report, the largest growth will come from the Permian Basin, an energy pool that lies under Texas and New Mexico.

Manufacturers use one-third of the energy consumed in this country and depend on a secure, affordable, reliable mix of energy resources to remain competitive. Renewable sources are growing quickly and diversifying the nation’s energy portfolio; our fleet of nuclear and hydro power plants cleanly and efficiently produce a substantial portion of the nation’s electricity; we have abundant supplies of coal, natural gas and oil; and advances in energy efficiency continue to save money. Technological innovation is making new resource production possible and supports millions of jobs, increasing household incomes, boosting trade and American competitiveness around the world.

There are encouraging signs on the horizon that the incredible growth we’ve seen over the past decade can continue when we make smart choices. That’s why manufacturers support the administration’s proposal  to expand assess to our shared resources on America’s Outer Continental Shelf. This proposal would increase the areas available for scientific discovery and exploration. Energy manufacturers like BP and Exxon Mobil have announced billions of dollars of investments in the U.S. in the coming years due to a friendly regulatory environment and tax reform. After years of delay, the Keystone Pipeline project has met critical hurdles and is expected to begin construction in 2019.

Rather than picking one energy source over another, we should harness American creativity and competitiveness to drive efficiency from all energy sources. By making use of all of our domestic resources, we can ensure the best environmental outcomes at the lowest costs. Fair access to energy makes us stronger. Manufacturers know that energy is an issue that can bring us together.

The post Report: U.S. Energy Production Hits Record Levels, Will Surpass Russia By 2023 appeared first on Shopfloor.


"The U.S. is hitting new strides in its oil and natural-gas boom..."

The post Report: U.S. Energy Production Hits Record Levels, Will Surpass Russia By 2023 appeared first on Shopfloor.


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