The White House likes to claim a share of the credit for the drilling revolution that has transformed North America's energy production and security, Kemp says.
John Kemp is a Reuters columnist. The views expressed are his own
LONDON, April 22 (Reuters) - The White House likes to claim a share of the credit for the drilling revolution that has transformed North America's energy production and security.
Except the revolution has largely taken place on private rather than public land, and energy producers feel frustrated about the numerous obstacles and long delays in obtaining permission to drill in areas directly controlled by the administration.
"Crude oil production has grown each year President Barack Obama has been in office to its highest level in 17 years," the Council of Economic Advisors wrote back in the summer of 2013. "Over the past four years, domestic oil supply growth has accounted for over one-third of global oil production growth."
"Government-funded research supplemented private industry's work to develop the technology that sparked the boom," the council explained ("Reducing America's dependence on foreign oil", Aug. 29, 2013).
The theme has often been taken up by the president himself to underline his commitment to an "all of the above" approach that embraces fossil fuels such as oil and gas, renewables like solar and wind as well as measures to reduce wasteful energy consumption while increasing efficiency.
"We are drilling," the president told an audience in Maryland in 2012. "Under my administration, America is producing more oil today than at any time in the last eight years. We've quadrupled the number of operating oil rigs to a record high."
View Full Article
Copyright 2015 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Most Popular Articles
From the Career Center
Jobs that may interest you