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Here it is the summer of 2008 and much of the country is paying over $4 for a gallon of gas. Utility bills also are rising because the cost of producing electricity, of natural gas, clean coal, etc. keep going up too.
Because energy is necessary and we live in a world that requires energy, it's important that we have energy. American businesses, in fact businesses worldwide, are producing products that are more energy efficient. In fact, every month Electrical Contracting Products runs articles that examine energy-efficient products and technologies. The article on daylighting technology in this issue is one example.
As energy costs soar, businesses are switching to more energy-efficient products. Airlines are doing things to save on fuel too. In other words, pretty much everyone today is doing what they can to cut down on their energy use. I know I am.
But, you know what? Cutting back and using more energy-efficient products aren't doing enough. Basically, we need more energy, alternative energy, whatever is necessary. But, that won't be enough either. And therein lies the problem.
During the week of May 19, the U.S. Senate called oil executives before many of our illustrious senators to explain why gas costs so much and to get television face time screaming and yelling at the evil oil executives. I am not going to make excuses for the "evil" oil executives, but this I do know: The profit margin for the oil companies is about 9 to 10 percent. I do know that the price of gasoline in Chicago, the city I live near and which has the most expensive gas in the nation, sees about $4.50 a gallon, of which about 90 cents is tax (federal, state and local taxes). In other words all the taxes combined far surpass the profit an oil company makes on that gallon of gas.
I also know that the U.S. Senate voted against drilling in ANWR in Alaska and a Senate committee also voted against exploring oil from shale rock in Colorado. Experts say there is as much as 2 TRILLION barrels of oil in the shale rock in Colorado alone. Utah and Wyoming also have oil in shale rock. I also know that Congress has put the brakes on further drilling in the Gulf of Mexico and other areas off the U.S. coast. Of course, China is drilling for oil in the Gulf, just a few dozen miles off the U.S. coast.
So, we have perhaps trillions of barrels of oil in Colorado, billions of barrels in Alaska, billions of barrels of oil in North Dakota, and countless billions more off the coast. I know the environment is a concern, and it SHOULD be. But I also know that technology exists to get that oil as environmentally responsible as possible.
The trouble is, the U.S. Congress is more interested in yelling at "evil" oil executives than they are getting the resources we have right here in the U.S. And, you know what else? Getting that oil also would provide lots of job—high-paying jobs at that. I also know it will help our economy. So, then, why aren't we getting it?
author: John Dyslin, Editor - Electrical Contracting Products