US Oil Production at Highest Level in History
We are taking a short break from our usual locally-themed news and observations because it is worth noting that US oil production has set another record. Despite increasing support for renewable energy, and in seeming contrast to a steady stream of good news about increased renewable energy production, we are faced with the reality that oil production in the US is at the highest rate in history. While we have seen a couple of drops in production in the last 20 years, the truth is that US oil production has been on a steady steep increase since the Obama administration.
There are a couple factors that might make this surprising to some. As a whole, most Americans acknowledge the role of CO2 in climate change and recognize that we should be working to decrease our contribution to this issue. It may also surprise some since it is politically popular for some candidates to claim their opponents are trying to kill the oil industry – evidence suggests otherwise. All federal administrations have recently presided over significant oil production increases.
The issue is complicated by the fact that while the US is now the largest oil producer in the world, most of our oil is exported. It is popular to complain about the price of gas, and it would seem contrary to the basic rules of economics that prices would rise as supply increases, however we see that demand for oil is growing at a much faster rate than the supply. Some might suggest it is foolish to race to utilize and export this finite resource due to the pollution it creates when burned, and its utility as a resource to our country in the long run. Apparently the people in a position to profit from this policy right now are successful implementing their plans into action. Let us know what you think the graph below indicates about US energy policy.
These are large complex global issues, beyond the ability of your local solar company to understand or to have an effect. The evidence that the underlying problems with our energy industry continue to worsen provides motivation for us to continue to help our clients craft their own personal energy policy. For over 22 years we have been spreading the news that you can put solar on your roof, replace your gas furnace with an electric heating unit most likely a heat pump, improve your insulation, and get a bike and an electric vehicle so you don’t need to buy gasoline. For an average homeowner on the Olympic Peninsula, it is possible to provide all of your own energy for your home and your transportation with roof top solar, while increasing the value of your home, and stopping your support for the domestic and global oil industry and its associated avarice and pollution.
If you are looking to craft your personal energy policy, now would be a good time for you to speak to us and put your own plans into action.
