How to improve our economy with domestic energy development – Americas Energy Independence
Improving our economy, the proper answer to that question is to increase our use of domestic energy, while developing and increasing our renewable energy infrastructure.
How do we improve the deficit? According to estimates, if America “unlocked its oil and natural gas reserves, the government could take in somewhere between $1 trillion and $2 trillion in additional revenue over the coming years.” And as it points out, the resulting lower fuel and energy costs also would stimulate the economy, further reducing the deficit. We should use some of these revenues to promote and utilize renewable energy sources.
How do we improve our trade imbalances? Increasing domestic use of oil and natural gas means we import less from overseas, which, by definition, improves our trade imbalance. This is especially true of natural gas. According to a number of energy experts, including the Potential Gas Committee, at current production levels the United States enjoys a 110-year supply of natural gas, and rapidly improving technologies mean we should be able to produce even more domestic gas, potentially extending that supply outlook far beyond 100 years. As noted, “It is quite possible that the United States could be the Saudi Arabia of natural gas.” It also points out that using more domestic energy not only reduces the trade deficit it increases our GDP. We should promote the use of Natural Gas powered vehicles. (The pipeline infrastructure of natural gas is already in place throughout the United States).
How do we create good-paying jobs? It puts it succinctly” “You can not drill for American oil and natural gas in China, Saudi Arabia or anyplace else other than America.” The more domestic energy we produce, the more domestic jobs we produce, and jobs in the exploration and production of oil and natural gas pay more than twice the national average, while at the same time increase R&D in renewable energy sources and increase efficiency. Americans should demand products made in the USA.
It is agreed that renewable energy is our energy future and we must continue to develop and promote renewable energy sources, although—like many in the natural gas industry—they believe the day when renewable energy dominates our energy landscape is farther off than most people think. What they propose is a “do-it-all strategy” in which we focus not just on developing renewable energy, but also on the development of our domestically abundant fossil fuels. It would require further technology and innovation in building construction that use the latest technology for efficiency in construction material and technique, plus the use of a more efficient HVAC (included is a geothermal HVAC system) and other mechanical systems. We should also implement the use of rainwater harvesting, gray water technology and other methods of conserving natural resources.
The result, would be “creating good jobs here at home, lowering energy costs and operating costs, reducing our reliance on foreign oil, and cutting the deficit and creating jobs.”
The increased employment in the United States, increase revenues to the government and reduces government financial support for the unemployed, it also increases spending by the working people which stimulates the economy.
In short the key to America’s economic recovery is not an increase in taxes and fees, but increase efficiency and productivity, reduce bureaucracy and the promotion of businesses and employment which will instill confidence in the economy and generate greater revenues for the government (city, county, state and federal).
Building confidence in our economy
We all know that the world cannot sustain itself without water and in today’s economy energy is a very close second.
Every week I read that American confidence is at an all time lows. We no longer have the same level of faith in our institutions and leaders that we once had. Consequently, we are seeing a continued erosion of our outlook on the future. This outlook must be changed by initiating a massive education programs that produce new innovation and technology.
I do not share this view completely. We have an opportunity to jumpstart our economy, protect our environment and put our nation on the path toward energy security through greater use of our domestic energy production such as natural gas. This is our domestic energy source that has been delivered for decades to Americans and can serve as a foundation for our energy independence, while we enhance innovation and achievement to utilize other forms of energy sources. To realize this path we must do what is necessary to instill confidence in the responsible development of our energy sources such as natural gas as a base with extensive R&D in renewable energy sources.
Improving our educational system is the key to our economic survival. In a global, knowledge-driven economy there is a direct correlation between engineering education and innovation. Our success or failure as a nation will be measured by how well we do with the innovation agenda, and by how well we can advance medical research, create game-changing devices and improve our economy.
Global leadership is not a birthright. Despite what many Americans believe, our nation does not possess an innate knack for greatness. Greatness must be worked for and won by each new generation. Right now that is not happening. But we still have time. If we place the emphasis we should on education, research and innovation we can lead the world in the decades to come. But the only way to ensure we remain great tomorrow is to increase our investment in science and engineering today.