At the dawn of a new year, it is appropriate to take stock of America’s ever-giving oil and natural gas bounty—and realize that much more of a good thing is in store given market incentives to produce and consume.
Oil and natural gas are the energies of our lives. No hyperbole there. Oil and natural gas are the source of energy-intense fuels for transportation as well as warmth in the winter and cooling in the summer.
They’re also the building blocks for a number of products we use every day, making our lives more modern, more comfortable and safer. Every day 143 U.S. refineries convert an average of 15 million barrels of crude oil for these uses and more.
For 9.8 million Americans, the oil and natural gas industry supports their employment – directly, indirectly in supporting industries and across our economy in jobs that wouldn’t exist without oil and natural gas development.…