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