Written by Claire Taylor
The United States has large reserves of energy that can boost the economy and lessen the nation's dependency on foreign producers if federal regulators allow its production according to Karen Harbert, president and CEO of the Institute for 21st Century Energy.
Harbert was the keynote speaker Tuesday morning for the Greater Lafayette Chamber of Commerce's annual Business Over Breakfast event. The Institute is an arm of the U.S. Chamber of Commerce.
"Twenty-five years from now, we're still going to be dependent on natural resources," she said.
Other nations are prepared for the growing demand for energy that is coming by 2050, such as the world's population rising to nine million, increasing the demand for electricity, Harbert said.
The number of cars in use will double, "and the combustion engine will be part of it," she said.
The United States needs to plan for the changes, including the increased demand for energy from the Middle East by other nations, Harbert said.
"Are we becoming less relevant consumers with OPEC?" she asked.
There are energy options available, the nation just isn't using those options.
"We are awash in natural resources" if we can get to them, Harbert said.
Federal regulators and energy opponents like environmental groups are hindering the exploration and production of energy sources, she said.
Most people are familiar with the acronym NIMBY, the "Not In My Back Yard" mentality that allows nothing near their home or city, Harbert said. She introduced the audinece to two more recent variations: BANANA — Build Absolutely Nothing Anywhere Near Anyone, and NOPE — Not On Planet Earth.
The federal five-year plan for oil and gas exploration and production basically shuts down exploration along the Atlantic Coast and opens no new areas in the Gulf of Mexico.
"We're going to have to be more vocal, more concerted in our efforts to have this changed," Harbert said.
Most exploration is on federal and state land. Eighty percent of natural resources also are on federal and state land, she said.
The question is, "Is it going to be easier to do business in Mozambique or the Marcellus (Shale)," Harbert asked.
Rigs and service companies are moving overseas because government makes it difficult to do business in the United States, she said.
The Keystone XL pipeline proposed from Canada to the Gulf coast would be particularly beneficial to Louisiana's service companies, Harbert said. The pipeline could have brought $800 billion to the federal GDP, the same as the federal stimulus package, she said.
"But we let a small amount of people co-opt the debate and derail it," Harbert said.
She called on the chamber and oilfield businesses to share the good news about the value and availability of domestic energy.