We Can’t Drill Our Way to Energy Security

energy,security,drill,cant,oil
Gulf
  • Date: 15-May-2022
  • Source: Asharq AL-awsat
  • Sector: Oil & Gas
  • Country: Gulf
  • Who else needs to know?

We Can’t Drill Our Way to Energy Security

International and Arab News

Thanks to a remarkable oil and gas boom, the United States has achieved the long-sought goal of energy self-sufficiency: We now produce more oil and refined products, natural gas and coal than we consume. In particular, horizontal drilling and hydraulic fracturing — fracking — transformed the United States from the world’s largest oil importer to a net exporter of both oil and gas.

This kind of physical energy security is a blessing when conflict disrupts the global energy trade. Europe’s frantic dash to free itself of Russian energy illustrates how deeply problematic it can be to not have it.

Yet look at prices at the pump, and you’ll see why we can’t drill our way to true energy security. That’s why the Senate must finalize legislation now that will marshal the full might of America’s energy arsenal to defeat Vladimir Putin, reduce energy costs, secure our economy against the next energy crisis and confront the critical threat of climate change.

Oil, coal and, increasingly, natural gas are globally traded commodities, which leaves the US economy dangerously exposed to the vagaries and volatility of energy prices. The decisions of a single autocrat on the other side of the world can send

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