Energy Policy: Opportunities and Self-Inflicted Wounds

Are we running out of energy or not? Is the transition to "renewables" going to happen any time soon, and is it the best use of resources, capital, and labor? How do policy decisions impact the price, availability, and reliability of energy - and how does that impact our lives? Jeff discusses these thorny policy questions with Mark Mills, Director of the National Center for Energy Analytics and comes to some surprising, evidence-based answers.

Learn more about Mark and his work at https://energyanalytics.org/

#energy #policy #oil #bigoil #fracking #environment

Host: Jeff Sikkenga
Executive Producer: Greg McBrayer
Producer: Jeremy Gypton
Subscribe: https://linktr.ee/theamericanidea

Timestamps
00:00 The American Idea Discusses Energy Production in the United States
The American Idea is a podcast that discusses the ideas, people, and events that have made America what it is today. In this episode, the podcast discusses the current state of energy policy in the United States and the historical roots of that policy.

07:01 America's Previous Dependence on Importing Oil Has Been Overcome
In the 1970s, the United States was heavily dependent on importing oil from other countries. This dependence made the country vulnerable to price shocks and supply disruptions. However, in recent years, the United States has become a major producer of oil and natural gas, thanks to the development of new technologies such as fracking. As a result, the country is now less dependent on imports and is more energy secure.

14:05 Spending During an Electric Market Emergency
It is advised to avoid emotional reactions and excessive electricity consumption during electric market emergencies. Focus on conserving electricity by adjusting thermostats and reducing unnecessary energy usage.

20:53 The Changing Oil Industry Landscape
The oil industry has undergone significant changes driven by advancements in fracking technology, which has enabled the extraction of oil from shale rocks. This, combined with unique aspects of the American energy market, including citizen ownership of mineral rights and a robust capital market, has contributed to the growth of independent oil producers and reshaped the industry's dynamics. Additionally, the expansion of deepwater offshore exploration and the role of oil production in geopolitical and economic spheres continue to shape the global oil landscape.

27:43 Pipelines: Economically Viable Energy Transport
Pipelines are an incredibly inexpensive and energy-efficient way to move energy. They are far more economically efficient and safe than electric transmission lines. All-in accounting shows nothing comes close to the incredible efficiency of using a pipe.

34:27 Embrace Markets and Abundance
To achieve reliable and affordable energy, we need to replicate the conditions that allowed the United States to become the world's largest oil and gas producer. This means embracing markets and abundance, rather than focusing solely on carbon dioxide emissions. While reducing emissions is a worthy goal, it cannot be the only criteria for energy policy, as it will lead to economic destruction without reducing global CO2 emissions.

41:14 Benefits of Conversion to US Energy Production
When US energy is made more efficient, cleaner, and relies less on foreign imports, the United States positions itself as a global leader in environmental protection, while also ensuring economic viability.

48:02 Positive Outlook for US Energy Policy and Production
The United States' wealth and diversity of resources make it well-equipped to lead the world in energy innovation and production, which will ultimately lead to increased economic growth and a stronger economy.