It’s no secret that the shale revolution happening across the U.S. is improving our energy security and advancing American prosperity. That consensus is officially part of the White House’s updated National Security Strategy, released today.
Noting that the U.S. is now the “world leader in oil and gas production,” the Obama administration document states:
“American oil production has increased dramatically, impacting global markets. Imports have decreased substantially, reducing the funds we send overseas.”
“If we hadn’t had this oil boom I think our deficit would be a lot larger than it is right now … It’s a game-changer.”
Other experts agree that technical advances such as hydraulic fracturing and horizontal drilling are enabling the United States to control our energy future while enhancing national security. As the International Energy Agency (IEA) concluded in its recent Medium-Term Oil Market Report, “U.S. shale oil will help meet most of the world’s new oil needs in the next five years, even if demand rises from a pick-up in the global economy.”
While National Security Strategy puts the spotlight on how our increased energy security is a boon to the United States, it also emphasizes the “significant stake in the energy security of our allies in Europe and elsewhere,” adding:
“Increasing global access to reliable and affordable energy is one of the most powerful ways to support social and economic development and to help build new markets for U.S. technology and investment.”
Let’s also not forget about the economic benefits of shale development. Across the U.S., oil and gas production from shale continues to create new jobs and provide a clean and affordable source of energy, while also increasing local, state, and federal revenues. The benefits to energy security are just as important, and that’s something all Americans can get behind.