America now occupies a position of energy leadership that was unthinkable a short time ago. Gone are the days of uncertainty and concern over having the supply of energy we need, when we need it. Today, the United States is the world’s top producer of natural gas the world’s leading refiner of petroleum products, and very soon could be the leading producer of oil. These developments are strengthening America’s energy and economic security and benefiting tens of millions of individuals, from current and future workers in the industry to those who have pension plans or 401(k) retirement accounts that invest in oil and natural gas companies, and for every American every day in maintaining a high quality of life.
But this is only part of America’s larger energy story. The United States is in the midst of a new era in domestic energy abundance characterized by rising use of renewable energy and increased oil and natural gas production that is strengthening our economic outlook and enabling America to emerge as a global energy superpower.
It is a remarkable transformation that has been made possible because America is uniquely rich in energy resources, a talented workforce and cutting edge energy technologies. Nuclear energy, fossil fuels and renewable energy sources alike are vital components of the larger energy portfolio working to keep our economy moving. And with both world and U.S. energy demand expected to increase in the future, the continued availability of the full range of America’s energy resources will grow in importance.
Today, different sectors of the economy rely on certain forms of energy. Transportation is largely fueled by oil, while electricity generation is powered by coal, nuclear, natural gas and renewables. Looking ahead a quarter century from now, this is not expected to change, which means each energy source — from oil and natural gas to solar and wind energy; from coal and nuclear to hydropower, geothermal and biomass — will remain essential to successfully meet America’s future energy needs.
Such is the current State of American Energy, and hence, the emphasis of API’s 2015 report. Rather than focus solely on the oil and natural gas industry, API this year is pleased to partner with organizations representing various energy sectors to highlight the contributions of each toward America’s current and future economic wellbeing, and collectively stress the importance of adopting a lasting “all of the above” energy strategy.
Energy is inseparable from America’s
economic growth and job creation, upon
which rests a thriving quality of life and secure
future for generations to come. The constant
pursuit of innovation, driven by both robust
competition and entrepreneurial spirit, has
enabled the United States to safely develop
a spectrum of energy resources. With smart
public policy choices and a regulatory system
that supports domestic energy opportunities,
the United States can realize a prosperous
energy tomorrow characterized by energy
abundance and economic security.
Jack N. Gerard
President and CEO
Energy Tomorrow is a project of the American Petroleum Institute – the only national trade association that represents all aspects of America’s oil and natural gas industry – speaking for the industry to the public, Congress and the Executive Branch, state governments and the media.