Energy to Lead

Mark Green
Posted January 9, 2019

“Say hello to the future!” It’s one of the big takeaways from this week’s State of American Energy event, captured in the early frames of API’s new video, “America’s Generation Energy.” Take a look:

As you can see in the video, the people of natural gas and oil indeed are looking ahead. As a nation, Americans can greet the future with optimism because our country has secure and abundant energy – the foundation for economic growth, an array of consumer benefits, increased security and environmental progress.

These points are underscored in API’s just-released annual report. It notes that our industry has made history with record-breaking natural gas and oil production, which is making lives better and playing a big role in shaping the future. From the report:

Americans from all walks of life recognize that energy from abundant U.S. natural gas and oil provides unprecedented opportunity for work, prosperity, health and quality of life, now and for decades to come. America has the energy to innovate, create wealth, develop solutions and achieve goals at home and abroad. Americans are stronger, more secure and freer to choose their path because their country has abundant natural gas and oil. As the world’s leading producer and refiner of natural gas and oil, the United States can look ahead to meet challenges from a position of energy strength, supported by a modern, innovative natural gas and oil industry.

Americans appreciate the significance of the U.S. leading the world in natural gas and oil production. They said so in new polling:

Pride in energy leadership translates into useful confidence – that the nation can grow and increase prosperity – and also look beyond itself to places where American energy can make a difference. Let’s take a closer look at energy leadership. It starts with … energy.

According to the data above from the U.S. Energy Information Administration (EIA), the United States has been the global production leader since 2011. And production continues to grow, thanks to abundant energy reserves and advancing industry technology and innovation. Our industry is heavily invested in becoming smarter and more efficient to safely develop America’s vast natural gas and oil potential. There’s a big upside to American energy. Ryan Lance, ConocoPhillips chairman and CEO:

“Despite the progress we made over the last five years, we ought to see that move exponentially again over the next five and 10 years.”

Key energy leadership data points:

• 10.7 million barrels of U.S. oil produced per day (10-month average), more than double levels of a decade ago
• 88 billion cubic feet/day of natural gas and natural gas liquids marketed production, making the U.S. the world’s top producer in 2018
• Lowest net imports of petroleum in more than 50 years, lowered by 70 percent since 2005 because of soaring domestic production

At the same time, U.S. energy leadership has translated into leadership in reducing carbon dioxide emissions to their lowest levels in a generation – even as global emissions  of carbon dioxide have risen 50 percent since 1990. More on climate and the environment in a future post.

U.S. energy leadership is a big story, one that extends beyond today into tomorrow. It has transformational potential – not just now, but for decades to come. Our industry is well-positioned to do its part in the energy story. From API President and CEO Mike Sommers’ message that opens the API report:

Every era and every industry has its innovators. Energy has been so ubiquitous in our daily lives for so long, we may take it for granted and assume there are no innovations left to achieve. But that’s not how America’s Generation Energy sees it.

It has already made history – with a shale revolution that has reshaped the global energy balance in our favor. Making history is one thing, but making the future is our focus. America’s Generation Energy has the skill, the technological expertise and the drive to make our future safer, cleaner and better.