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The AAPG/Datapages Combined Publications Database
Houston Geological Society Bulletin
Abstract
Abstract:
Energy
Sound Bites and Counterbites
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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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