Why Alaska holds the key to continuing America's energy revolution.

AuthorSeneca, Anne
PositionENERGY

About a decade ago, the United States faced what seemed to be a dismal, almost frighteningly bleak energy future. We were on the verge of a large--and seemingly unsurmountable--energy shortage. Our country's lack of domestic production, coupled with rising imports of petroleum, was adding to our nation's mounting deficit, not reducing it.

Long-lasting, detrimental impacts were expected to unfold as the direct or indirect result of this shortage. American consumers, in addition to seeing their job security deteriorate, would see their energy costs skyrocket. Our competiveness globally would nosedive, as would our country's economic stability. Even our national security could be compromised, experts advised.

Most important, the United States would have to rely more heavily on faraway rival nations to provide us with the energy we need to power our communities and fuel our vehicles.

There was no way around this, we were told. It was, in essence, inescapable. However, thanks to Alaska and several other energy-plentiful states and regions, none of that ever materialized.

A New Era in Energy

Consumer Energy Alliance always said the pendulum would swing back the other way if the United States, in an economically and environmentally friendly way, continued to explore and harness its abundant resources.

Fortunately, our nation's perseverance paid off. New technologies combined with advancements in old hydraulic fracturing techniques have accelerated domestic energy production to heights not seen since the 1970s. Imports have decreased; in turn, so has the US trade deficit. Instead of importing about 60 percent of the petroleum we consume, as we did not too long ago, the United States now imports about 40 percent.

The turnaround has had a domino effect throughout the national economy. Job growth accelerated. We are more energy self-efficient. National security has strengthened. Manufacturing is up, as is consumer spending. Filling up a car has never been lighter on the wallet, and American consumers are keeping more of their hard-earned dollars in their pockets--just as we expected.

Instead of having an energy shortage, our country now has an energy surplus--and it's changed everything.

Geopolitical Consequences

The avalanche of geopolitical consequences that have resulted from our newfound dominance in energy exploration and extraction is not lost on Consumer Energy Alliance.

The steep drop in fuel costs is not an American-only occurrence; the...

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