November 2, 2024
Politicians may push for clean energy, but the reality is that oil and gas remain essential for American jobs, security, and the economy.
With the 2024 election around the corner, U.S. energy policy is front and center. The U.S. is the world's largest oil and gas producer, pumping out over 18 million barrels a day and consuming about 20 million barrels daily—more than any other country. Energy independence and affordable fuel are essential for American households and the economy. Politicians, no matter their stance on climate, know the importance of this industry.
The U.S. energy sector supports over 10 million jobs and brings in billions in tax revenues that fund public services like infrastructure and healthcare. Cutting back too hard on oil and gas would risk jobs, drive up prices, and impact millions of Americans.
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Oil and gas give the U.S. leverage globally. As Europe relies on Russia for energy, the U.S. avoids similar dependence, making it more resilient to global disruptions. This energy independence strengthens America’s position on the global stage.
While the U.S. leads in oil and gas, China dominates renewable energy and battery production, holding 80% of lithium-ion battery production and controlling most critical minerals for solar and wind. This puts the U.S. at a strategic disadvantage, making oil and gas all the more critical as America works to build up its renewables.
Politicians may push for clean energy, but the reality is that oil and gas remain essential for American jobs, security, and the economy. With election season heating up, expect energy policy to balance both fossil fuels and renewables—keeping U.S. energy strong and competitive.