North American energy self-suffiency “is within reach,” but an energy strategy that capitalizes on U.S. advantages must be implemented, Business Roundtable (BRT), a group of CEOs of U.S. companies, said Monday.
“America’s energy economy is firing on all cylinders — efficiency, renewable power, oil and gas production, and advanced coal and nuclear power technology,” said David M. Cote, CEO of Honeywell International Inc. and chair of BRT’s Energy and Environment Committee. “…America’s energy future is bright, but it is not certain. A diverse portfolio of energy efficiency and supply options is the best way to preserve and extend America’s significant energy advantages.”
In a report issued Monday, the CEO’s called on Congress and the Obama administration to adopt policies that will enhance U.S. self-sufficiency, boost economic growth and promote environmental stewardship. The plan includes recommendations in four areas — energy efficiency, traditional energy production, renewable energy production and electric power generation, transmission and distribution — with specific recommendations that the CEOs said will:
“The energy renaissance has provided America with a tremendous opportunity. If harnessed correctly, increased development of the nation’s traditional fuel resources can result in significant business investment and job growth and bring the nation closer to energy self-sufficiency, all while reducing GHG [greenhouse gas] emissions and other pollutants,” according to the report. “Realizing this long-term potential, however, will require a comprehensive, consistent and forward-looking national energy strategy that reflects current realities, addresses key barriers and capitalizes on future trends.”
Actions the business group recommended:
Recommendations in the report include calls for increasing access to onshore and offshore federal lands, and streamlining the permitting and approval processes to expedite critical infrastructure projects.
The role that states have traditionally played in regulating oild and natural gas activity on non-federal lands should be respected and new regulations for federal lands should be developed in consultation with states and be consistent with state regulations, according to the report. And U.S. Environmental Protection Agency regulations must be based “on sound science, undergo thorough net cost-benefit analysis, and take into consideration the net cumulative impact these regulations have on energy costs, economic growth and job creation, while being protective of human health and the environment.”
“Driven by private sector innovation and investment, the United States is poised to regain its status as an energy superpower,” said Chevron Corp. CEO John S. Watson. “The dramatic rise in U.S. oil and natural gas production is creating jobs and economic growth across America, but our ability to take full advantage of the historic opportunity in front of us depends upon the right policy framework.”
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