March 3, 2010
Graph Credit: Mark J. Perry
Data released yesterday by the U.S. Energy Information Administration shows U.S. natural gas production set another record in 2009, marking a 12.2% increase since 2006, which makes America the world’s No. 1 producer of natural gas. Thanks to advances in technologies and the use of safe drilling techniques such as hydrological fracturing, U.S. reserves are now estimated at over 2,000 trillion cubic feet (TCF), approximately a 100 year supply. Unlike oil consumption, the U.S. is not dependent on unstable foreign countries for natural gas—nearly 98 percent of the natural gas consumed in the U.S. is produced in North America. With so much natural gas being produced, it’s no surprise that the natural gas industry supports approximately 2.8 million American jobs.
Despite the overwhelming contribution to the American economy and national energy security, the Obama Administration is taking steps to lockup vital energy rich land and punish domestic energy producers with billions in direct taxes and fees. If this Administration is serious about getting the economy back on track and decreasing our dependence on foreign energy, they need to embrace an all-of-the-above energy strategy that supports our abundant supply of natural gas.