How America Can Get Its Groove Back According to Aubrey McClendon
America has really lost its groove in the energy industry, especially on a global level. I am sure you have noticed this and also asked yourself, “How can we make our way back to the top?” Aubrey McClendon of Chesapeake Energy gives some opinions in a report by Christopher Helman.
Yes, it’s really true: America’s future energy needs can be supplied 100% from home-grown energy resources. Production of unconventional oil and shale natural gas from 32 of our 50 states now provides fuel sources of revolutionary abundance, allowing us in the years ahead to stand tall again without the weight of exporting trillions of dollars to the world’s oil producers.
This new energy supply revolution in the U.S. is so enormous that American manufacturers now enjoy natural gas costs that are the envy of the world. Since 2008, the abundant supply of natural gas has dropped the price of natural gas by 67%, providing a national economic stimulus of $250 million per day. This domestic energy cost advantage is already attracting industrial facilities back into the U.S.; witness the almost weekly announcements of new jobs in the American chemical industry, for example. In the next few years, rising production of American natural gas can spark a 21st century American manufacturing renaissance, producing jobs that will help revitalize America.
That’s just the beginning. If we use natural gas as a primary transportation fuel, we can save businesses and consumers about $2 per gallon. All we need to do is invest about $2 billion in building compressed natural gas (CNG) and liquefied natural gas (LNG) pumps at truck stops across the interstates to give vehicle owners confidence to buy CNG/LNG vehicles and manufacturers the confidence to build CNG/LNG vehicles. Chesapeake alone is committed to investing 10% for the needed $2 billion infrastructure, and others will join us.
Looks like energy independence is the name of the game. Addtionally, with all the shale plays and recent technology, it could very well be possible. Let’s hope we can bounce back, and be the best of the best once again.
Quotes taken from report by Christopher Helman, Read the entire article here.
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