The People of America's Oil and Natural Gas Indusry

Wise Words from the OTC

Jane Van Ryan

Jane Van Ryan
Posted May 5, 2009

"It's just a matter of time before we must act on energy," said API President and CEO Jack Gerard when he met with reporters and bloggers yesterday at the Offshore Technology Conference (OTC) in Houston. But he said our nation needs to be realistic. "We can't just throw a switch and change from one source of energy to another overnight."

Every credible projection on U.S. energy consumption over the next couple of decades shows that oil and natural gas will continue to play a large role in the nation's overall energy mix. And as Jack explained, energy consumption will increase. The U.S. Department of Energy expects energy consumption to climb 9 percent from 2007 to 2030.

How should the nation prepare for the future? Jack discussed several ideas:

  • Efficiency and conservation: As he put it, "Efficiency is good business."
  • Solar and wind power: Jack noted that these renewables account for about 2 percent of our energy mix today and will grow to 4 percent. "What about the other 96 percent?" he asked.
  • Oil and natural gas: "We know the potential of finding oil and natural gas in the previously off-limits offshore areas is huge, and our nation needs the political will to go after it," Jack explained.

Another important point: The oil and natural gas industry has the advanced technology and the know-how to produce energy offshore while protecting the marine environment.

More on that later today from the OTC...


Update on May 14, 2009: Click here to view our Flickr photo album from the Offshore Technology Conference.