"It is clear that the American public is looking to capitalize on the opportunity we face at this moment to use our nation's energy portfolio to help consumers and create jobs," Karen Moreau, the executive director of the API's New York Petroleum Council.
(PRWEB) May 05, 2014
Domestic energy production has increased at a rapid rate in recent years, a trend that has benefited producers and improved economic conditions both in the U.S. and around the world. And while corporations have shown to be in favor of this trend, American citizens are equally enthusiastic about the advancements being made in domestic production. A new poll suggests that U.S. residents overwhelmingly support investments into infrastructure and tools that would help improve energy development on these shores. The general sentiment closely mirrors those with financial interest in the market.
Last week, the American Petroleum Institute released the results of a telephone survey administered by Harris Interactive that shows Americans have favorable views of increased domestic production. The thought is that investments into domestic production will benefit the economy because it will create new jobs and increase energy independence. In fact, most respondents think local oil and gas companies can do more to increase energy production.
According to the results, 77 percent of respondents support increasing domestic oil and natural gas production. Meanwhile, 64 percent of citizens say it is "very important" to produce more oil and gas on U.S. shores. Those who want increased U.S. production list financial reasons as a motivator, as 82 percent said that an increase in domestic oil and natural gas would lower average consumer energy costs and 87 percent said an increase in domestic resources would help stimulate the economy in a number of different ways.
The biggest motivator for wanting increased domestic production is the number of jobs such an action would create. According to the report, 91 percent of respondents believe furthering domestic production efforts would have a significantly positive impact on the U.S. job market.
"It is clear that the American public is looking to capitalize on the opportunity we face at this moment to use our nation's energy portfolio to help consumers and create jobs," Karen Moreau, the executive director of the API's New York Petroleum Council, said during a press briefing on the poll. "The right public policies can fuel America's economic revival and improve our energy security for future generations through the safe and responsible production, refining and transportation of our country's oil and natural gas resources. Our entire economic future, the availability of affordable and reliable energy, depends on the policies created today."
Gaining public support is an important component of a domestic energy initiative, but oil and gas companies must hold up their end of the bargain. To maximize on the benefits of domestic production, companies have to use their resources efficiently to maintain a practical and environmentally friendly operation. Excessive spending or a wasteful use of resources can have a negative impact on the economy and negate any of the support the industry has received in recent years. Failure to take advantage of these opportunities will lead to dwindling support from both citizens and those who financially back these operations.
The right technologies will help ensure producers don't lose public support. Drilling fluids offered by Rapid Drilling can help by mitigating geological obstacles that could negatively impact operations and increasing production efficiency. Additionally, fracturing chemicals offered by Chem Rock Technologies can safely improve formation fracturing and production performance.