5 Obvious Reasons Oil and Natural Gas is Beneficial
We took a look at the recently published Forbes article, The Obvious Reality Of More U.S. Oil And Natural Gas, and summarized the most obvious reasons oil and gas are beneficial!
1. "Gas will supply over 40% of our power this summer and is racing toward being 50% of total generation capacity."
Read that sentence again. Read that sentence again. Natural gas will supply more than 40 percent of U.S. electricity this summer and soon account for 50 percent of total generation. That means for every 100 power plants, 50 would run on natural gas.
2. "International Energy Agency has specifically credited the rise of [natural] gas in our power system as the reason why we are slashing CO2 emissions faster than any other country ever."
The reasons the United States is reducing emissions faster than any other country? Surprise, surprise – natural gas! The 2020 Democratic presidential candidates want America to become a global leader on climate – someone should tell them we already are thanks to natural gas!
3. A fracking ban would eliminate 19 MILLION jobs and lower the GDP by $7.1 trillion.
The Global Energy Institute of the U.S. Chamber of Commerce recently did a study on exactly what a ban on fracking would mean for the United States and the results are insane. To put it in perspective, 19 million is over twice the total number of jobs lost during the Great Recession.
4. States with a ban on fracking pay over 50% more for electricity than the national average.
States like California, New York and other states in New England who have implemented fracking bans now need to import oil and natural gas from other states. This is extremely costly and consumers are the ones paying the price!
5. Record U.S. oil and natural gas production has made the United State more energy secure!
Fracking has made the United States the #1 oil and natural gas producer in the world! That means we don’t have to rely on foreign countries for the resources we use every day.