The Promise and Challenge of U.S. Energy Infrastructure
https://www.realclearenergy.org/articles/2018/01/31/the_promise_and_challenge_of_us_energy_infrastructure_110272.htmlJanuary 31, 2018
Over the past two decades, America’s energy resources have consistently exceeded even the most bullish estimates — and they continue to grow. This month, the U.S. Energy Information Administration revised previous forecasts, predicting now that domestic crude oil production will reach record highs in February, three fiscal quarters earlier than previously expected.
This surge in production is happening in places once written off by politicians. In North Dakota, officials expect oil production on the Bakken shale play to hit a record high in the first half of this year. And in Texas, new data shows the Permian Basin contains more than twice as much recoverable oil as has been drilled over the past 95 years. Meanwhile, the Marcellus and Utica shale reserves are producing nearly 27 billion cubic feet of natural gas per day — the most of any region in the country.
Since 2005, U.S. natural gas production has increased by 68 percent, and federal calculations indicate that 2018 is likely to be another landmark year. Almost 7 billion cubic feet of new gas production is predicted to come online. Thirty-three percent of U.S. electricity will be generated by gas-fired plants, and plant operators plan to add 20 gigawatts of generating capacity, the most since 2004.
America’s indomitable output horizon — driven by shale development and new technologies that are improving efficiencies and reducing emissions — has been a godsend, from Pennsylvania Avenue to Main Street. The U.S. economy added 196,000 manufacturing jobs last year, lured back largely by reliable access to affordable fuels. And the United States will become a net-energy exporter within 10 years, giving U.S. officials the tools to support our allies, isolate our enemies, and mitigate volatility in global markets.
The remarkable transition from dependence to “energy dominance,†to borrow from President Trump, owes largely to every facet of the energy industry pulling in tandem....
