Forty years ago, in the spring of 1974, a group of oilmen and business leaders came together in Tulsa to form The International Society of The Energy Advocates. The reason the organization was primarily formed was to counter the OPEC (Organization of Arab Petroleum Exporting Countries) embargo. The 1973-74 embargo sent a shock through the world, oil production was cut along with shipments to the U.S.
One of the items in force since and because of the Arab embargo is the ban on exporting U.S. crude oil. Keep in mind, during the 1970s, the U.S. consumption began to outstrip production, and America started importing more oil than it produced. Just six years ago, pre-Bakken oil and U.S. oil shale plays, it was projected that oil production in the U.S. would likely continue its downward trend. At that time the U. S. imported over 60 percent of the needed oil for consumption. Thanks to technological advancements, there is a new energy horizon.
Today, U.S. oil production is increasing therefore many energy producers want to see the ban on exports lifted. Congress has now stepped in and is beginning in-depth research. An editorial in favor of the ban in USA Today states, “trying to artificially hold down the price of domestic crude will, over time, discourage exploration and mute a stunning production boom that is helping drive the USA tantalizingly close to energy independence, a national goal since the ’73 oil shock.”
Also, Adam Sieminski, EIA (Energy Information Administration) administrator voiced his opinion regarding U.S. oil exporting stating “I’m not sure we should just automatically assume that would be bad….it might actually be a way to grow the economy, create jobs and ultimately help reduce prices.” The EIA states that domestic oil production is expected to increase from 6.5 million barrels per day last year to 8.2 million barrels per day by the end of 2014.
Since this is an election year, we will see if there is any action taken. In the meantime, America Needs America’s Energy and We Must Continue to Tell Our Story!
It is time we come together: The U.S. has the immediate challenge of striving for energy independence. It is extremely important that the U.S. be in a strong position of securing energy reserves within its own boundaries. Therefore, we need a plan. The U.S. needs energy security. America Needs America’s Energy!
Together we can create the People’s Energy Plan! Go to www.peoplesenergyplan.com to join the effort.
Facebook: America Needs America’s Energy with over 10,000 supporters plus and growing. — America Needs America’s Energy: Creating Together the People’s Energy Plan!