With continued backlash, President Obama is still trying to sell the US on his new energy policy and attempting to showcase the regulations as economically advantageous through job creation, cleaner energy sources, and protection of the US against foreign turmoil. In a 42-page report to be released on Thursday, the White House contends that the US’s natural gas boon is both economically and environmentally beneficial.
The report’s purpose is to counteract the disapproval of the EPA‘s new regulations on coal-fired power plants, which many expect will inflate electricity costs, thwart job growth, and impede economic prosperity. Conservatives and their allies believe that reducing emissions won’t actually aid the environment, and only become a hinderance to the economy.
The White House reports argues that increased domestic energy production, wind and solar power, and decreased dependency on oil have largely bolstered the security of US energy and the economy, and speak directly to the impacts of climate change by reducing carbon emissions.
The US’s upswing in natural gas safeguards the economy, and everyone’s pockets, if oil-producing countries undergo turmoil and cause oil prices to skyrocket. If we continue to produce energy sources domestically, then the US reaps the benefits—that means more money and more jobs.
Regardless, the US is still the number one consumer and importer of oil. The advent of natural gas hasn’t been embraced by everyone—the process of extracting natural gas from shale rock presents some unease with many environmental groups. The decline in oil consumption started in 2006, though that fall is ascribed to the recession. At the same time, natural gas consumption has increased by 18% since 2005.
Developed and Written by Dr. Subodh Das and Tara Mahadevan
May 30, 2014
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