The Energy Situation in the U.S.

The gas and oil industry impacts the health of the domestic economy, with both prices and supply for U.S. citizens, but also trade and relationships with countries around the clove. For the protection of the United States economy, it is very important that the oil and gas industry be allowed to thrive. Companies like the oilfield service industry Erath are making sure that this happens.

Oil Prices, Stocks Plunge After Saudi Arabia Stuns World With ...

The Primary Energy Source

When you combine oil and natural gas, you have over half of the world’s energy supply. These are considered necessary resources since, without them, the country (and the rest of the world) would come to a screeching halt. Even with the sustainable and renewable initiatives being promoted around the world, there isn’t a feasible way to contribute as much to the energy needs unless you allow for oil and natural gas. Implementing these initiatives is expensive and at times, unreliable. The U.S. needs unrestricted use of oil and natural gas to operate effectively.

The Need for Energy Independence

If the United States can’t produce oil or natural gas, the nation would become dependent on other countries for the needed resources. If this happened, the entire U.S. economy could be held hostage by the price of oil from foreign imports. The current oil industry has long been controlled by OPEC, a conglomeration of oil-producing countries that have worked to fix the price of oil in their favor. However, the U.S. economy has been able to move away from the impact of OPEC through shale oil and fracking.

The Improvement of Gas Prices

The economic outlook for the United States gets better when the gas and oil prices go down. Being able to export crude oil rather than importing it brings money into the country instead of sending it out.

The U.S. needs the gas and oil industry to keep its economy thriving. The future of our economic health depends on a healthy energy industry, with the American consumer being the greatest benefactor.

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