U.S. ready to 'become global energy powerhouse'

Published on Sunday, 9 February 2014 00:10 - Written by Alex Mills Texas Energy Alliance

America is poised to become a global energy powerhouse.

That is the opening sentence of a comprehensive 66-page study titled “Energy Works for US.” It was released recently by the U.S. Chamber of Commerce’s Institute for 21st Century Energy.

The study reflects the new reality of America’s energy revolution.

Energy Works for US consists of 64 specific recommendations in nine key areas. It truly is an “all of the above” energy plan that is much more comprehensive and different from the “all of the above” plan offered to the nation by President Obama in his State of the Union address.

While the president’s plan takes into consideration glo-bal warming as a major component of its energy policy, the U.S. Chamber encourages ma-rket oriented solutions rather that government dictates.

“The Energy Works for US platform will create millions of jobs, billions of dollars in revenue, and trillions of dollars of private investment,” said Tom Donohue, president and CEO of the U.S. Chamber of Commerce. “America now has the opportunity to become an energy superpower, but our national energy policy is stuck in the past. The platform will allow us to realize our full potential.”

“While there is great cause for optimism, the reality is that our energy revolution is largely occurring in spite of government policies, not because of them,” said Karen Harbert, president and CEO of the Chamber’s Institute for 21st Century Energy. “Poorly designed policies that limit access to resources and regulatory overreach have created uncertainty that threatens to hold back U.S. energy production and the investment and jobs that go with it. Energy Works for US shows policymakers and the American public how we can embrace our energy opportunities and overcome our energy challenges to transform our economic and geopolitical future.”

The nine areas addressed are:

Remove barriers to increase domestic oil and natural gas exploration and production and fuel manufacturing.

Maintain coal’s role as a vital part of a diverse energy portfolio.

Expand nuclear energy use and commit to a nuclear waste solution.

Enhance the competitiveness of renewable sources of energy.

Promote 21st century energy efficiency and advanced technologies.

Modernize the permitting process for our nation’s energy infrastructure.

Protect our energy infrastructure from physical disruptions and cyber attacks.

Reform the regulatory process for balance, predictability and transparency.

Ensure a competitive workforce.

Energy Works for US would open up access to oil and natural gas resources on federal lands for production, further lowering the need for imports of these fuels. It also calls for an end to the regulatory assault on energy producers.

Free trade in energy is another feature of the plan—for oil, natural gas, coal, and nuclear technologies. The platform also addresses structural impediments that trap critical energy infrastructure projects in a maze of regulations and needlessly cumbersome permitting processes. And the platform highlights new, 21st century energy challenges, like the growing need for more skilled energy workforce and looming cyber security threats that demand a forward thinking policy response.  

A copy of the report can be obtained atwww.energyxxi . org.