Finding balance when it comes to meeting our nation’s growing energy needs means blending alternative energy sources, increased domestic supplies and continued conservation.
America is demanding more and more energy. The solution to this growing need includes using energy more efficiently, building a diverse supply of energy sources, and developing new technologies that maximize the use of energy that also lower greenhouse gas emissions.
What many people do not realize is the oil and natural gas industry is already deeply involved in all of these areas and has been making major investments in new technologies and alternative forms of energy for years.
To be sure, Alaska already is a major producer of wind, hydroelectric, and geothermal energy. While natural gas generates half of the state's electricity, 28% is generated from renewables - that is twice the national average.
Development of new technologies and alternative sources, however, is not enough to meet increased energy demand. The U.S. Department of Energy Energy Information Administration, Annual Energy Outlook forecasts U.S. energy demand to increase 12% by 2040, and that even with robust growth in renewables, oil and natural gas will continue to satisfy more than 60% of that demand.
So we can continue to satisfy our demand for oil and natural gas by purchasing it from foreign partners — or we can begin to tap the vast North American energy resources that lie under our feet and off America’s shores.