Pro-Energy Policies Good for VirginiaCategorized in: Domestic Oil, Infrastructure, Jobs, Natural Gas, Virginia
The American energy revolution has provided many benefits to our nation. Thanks to policies that encourage energy production, U.S. oil and gas development has surged over the past decade. The American Petroleum Institute CEO Jack Gerard explains in an op-ed for the Fredericksburg Free Lance-Star how this has done a lot of good in the U.S. and around the world:
Increased production of U.S. oil and natural gas has added stability to world markets, exerting downward pressure on prices and reducing the influence of less-stable producing regions.
Heating and electricity costs are also down, providing breathing room in family budgets and giving a competitive edge to U.S. businesses, whose manufacturing costs are now 10 to 20 percent lower than those of many international competitors.
But we can’t just coast on our success. America’s status as a world energy superpower can either grow or wither based on specific policy choices.
As Gerard points out, for the energy revolution to continue, our nation needs to embrace policies that will further encourage oil and gas production. These include allowing oil and exploration off of Virginia’s coast, creating opportunities to build new pipelines and other energy infrastructure, reforming or ending the ethanol mandate, and not imposing burdensome new restrictions on hydraulic fracturing.
Pursuing these policies will ensure that American energy production remains strong for years to come. That’s good news for Virginians and everyone else in the United States.