• 20120920_181108

    The energy issues that are currently affecting us

    By Joshua Sherwood, student at Colorado Christian University

    Para leer en español, haga clic aquí

    20120920_181237The current price of gasoline is bringing a sigh of relief to American consumers.  Money that was being spent on gasoline in the past can now be spent in other necessary and valuable areas. In fact, the U.S. Energy Information Administration projects that the “average household is now expected to spend about $750 less for gasoline in 2015 compared with last year because of lower prices” according to its Short-Term Energy Outlook report published on January 13, 2015 [1]

    However, this good news does not come without bad news. It needs to be noted that “oil service companies have announced layoffs of thousands of workers just in the past week [of January 23, 2015], and the analysis firm Wood Mackenzie expects drilling investment in North America to fall by $50 billion, or nearly 40 percent, over the next year.” [2] The relationship between the cause and effect of free markets is in full swing. However, despite these negative consequences, “most economists agree that the good outweighs the bad.” [3]

    IMG_2630The lesson to be taken from these events is that energy is a major asset to the U.S. economy. Fracking in states like North Dakota is creating jobs and is partially responsible for the dramatically low gas prices. [4] Although President Obama has been stubborn about completely approving Keystone XL, the construction of the pipeline in the states of Oklahoma and Texas has boosted their economies by “injecting $2.1 billion and $3.6 billion into their economies, respectively.” [5] Pro-American energy policies should be put into place by the new Republican-led U.S. Congress, and the energy industry should be allowed to thrive.

    Current events show that the American dream of energy independence is closer than ever before. Let’s keep the trend going.

     

    References

    [1] United States Energy Information Administration. (2015, January 13). Highlights of the Short-Term Energy Outlook report of January 2015. Retrieved from http://www.eia.gov/forecasts/steo/

    [2] Fahey, J., & Rosenberg, J. (2015, January 23).  $2 gasoline: Good times keep rolling at the pump. Associated Press. Retrieved from http://bigstory.ap.org/article/0a490fbcfcce40058463ef41bb4edfd6/2-gasoline-good-times-keep-rolling-pump

    [3] Ibid.

    [4] Ibid.

    [5] Loris, N. (2015, January 14). Enough is enough: Obama’s keystone obstructionism must end. The Heritage Foundation. Retrieved from http://www.heritage.org/research/commentary/2015/1/enough-is-enough-obamas-keystone-obstructionism-must-end