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Houston Geological Society Bulletin

Abstract


Houston Geological Society Bulletin, Volume 51, No. 06, February 2009. Page 20 - 20.

Abstract: Energy Sound Bites and Counterbites

Scott W. Tinker
Director of the Bureau of Economic Geology

The United States has, arguably, become a sound-bite society — influenced by YouTube, text messages, and political debates. Some issues may lend themselves to a sound-bite level of understanding. Energy, unfortunately, is not one of them.

Sound bite: We cannot drill our way out of an energy crisis. This is probably true, but it unfortunately conveys a message that we should not be drilling offshore at all, which is both naïve and economically dangerous. Counterbite: We can “not-drill” our way into an energy crisis!

Sound bite: The United States should be energy independent. This is a romantic notion, but it unfortunately conveys the idea that it is actually possible to become energy independent. In real i t y, such independence wi l l be unachievable for several decades. The idea of energy independence distracts us from the more important goal of energy security, which has a very different set of strategic objectives. These objectives include efficiency, diversification, improved global energy trade and investment, dialog between developing and developed nations, and balanced manpower and education. Counterbite: Build energy bridges, not walls, for energy security.

Sound Bite: Renewable energy will end dependence on foreign oil. Most forms of “renewable” energy are used to generate electricity, which may eventually replace some component of liquid fuel demand, but not until the auto fleet is replaced and the power grid is revamped many years in the future. Counterbite: Fossil fuels are the bridge to an alternate energy future.

Sound bite: Big Oil is evil. The truth is that only six companies that exist in the world today qualify as Big Oil, three of which are U.S.- based companies, and they are not in the best financial condition. Big Oil today is, instead, largely embodied by national oil companies. Counterbite: Preserve Big Oil for global energy security.

Sound bite: Americans are addicted to oil. America and all developed nations are addicted to energy. Oil represents only about 37% of total energy consumption and is the only major energy source in decline in percentage terms. Counterbite: Healthy economies rely on energy.

Sound bite: Fossil fuels hurt the environment. Fossil fuels are a product of the natural environment. Combustion of fossil fuels produces wastes that need to be minimized. At the same time, fossil fuels account for 87% of energy supply and underpin modern economies. Healthy economies allow for significant investment in environmental stewardship. Counterbite: Fossil fuels are the path to a clean future!

Sound bite: Federal energy policy will create millions of new jobs. A policy-forced, accelerated energy transition, however noble in purpose, is unwise. Governments can help set the stage for markets to respond. Counterbite: Governments don’t pick winners — markets do.

These “counterbites” are controversial in today’s world but necessary for public understanding. I will close with a sound bite of my own: There are no energy silver bullets, just golden ideas!

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