For the vast majority of Americans, most don’t think much about the oil and gas industry. After all, the news is not pounding it down our throats about the lack of these nonrenewable resources or our use of them. We aren’t in any energy crisis like during the 1970s where there were lines a mile long at gas stations. Furthermore, because we haven’t had a recent energy crisis to speak of, many Americans haven’t even lived through one.
Thus, if you asked, most Americans would really have no idea about the state of America’s energy independence, and frankly, most probably don’t care since it does not affect their ability to heat their homes or drive their cars.
However, energy independence continues to be a major factor for the health of our economy. An energy crisis comparable to the energy crises in the 1970s would be devastating to the United States economy and could cause major problems for families. Hence, asking the question about when the United States will be energy independent we here at Northern Oilfield Services in Williston believe is important.
Northern Oilfield Services based out of Williston is the best oilfield supply company. We offer oilfield equipment rentals, including frac iron and wellheads, so that you can concentrate on the more important aspects of running your business. Below, we’ll take a look at energy independence for the United States. Contact us today to get started!
The Reality: The US Still Imports Oil
One of the main problems with the US becoming energy independent is that it still imports oil. In 2006, the United States imported about 60% of its oil. Jump ahead just over a decade, and the United States is poised to become a net exporter of oil by next year, thanks to the shale oil boom. Northern Oilfield Services notes that the shale oil boom is due to the improved hydraulic fracturing technology, as well as improved directional drilling techniques, which had made places like the Bakken in North Dakota, a huge producer of shale oil. Today, the United States imports over one million barrels of oil a day from Saudi Arabia. It’s important here to note that the US exports many products that are made from oil.
The fact is that oil is bought and sold on a global market, and the price of oil (and what crises happen elsewhere) affects the United States. That being said, the US currently imports about 20% of its energy needs, but that number has been steadily declining due to the oil boom and the use of renewable energy. What used to be a far off dream of energy independence is in sight.
The Reality: The US Needs to Change Its Use of Oil
Complete energy independence would mean that the US imports no oil whatsoever and can supply all of its energy needs for every US citizen. With the shale oil boom, the US is now able to recycle more of its own money faster since less is leaving the country by purchasing foreign oil. Oil independence has its political advantages as well. Without being beholden to foreign nations for oil, we are now in a more powerful negotiating position than we were previously. It also can change our foreign policy decisions since we don’t have to fear an oil embargo or some other economic retaliation for our stand on certain positions.
The Reality: Energy Independent for How Long?
Oil and natural gas are nonrenewable energy resources. It is a fact that they are made naturally by compressed decayed remnants of long-dead animals. However, because it takes thousands of years for oil to be formed, this means we will use up oil much faster than it can renew itself, thus making it nonrenewable. In this respect, it is important to keep investing in renewable energy sources, such as wind and solar power, because, while we may not live to see it (and for many generations after us), the day will come when there is not a drop of oil left in the ground. And on that day, we need to be prepared.
HOW NORTHERN OILFIELD SERVICES HELPS WITH ENERGY INDEPENDENCE
No matter where you stand on the issue of energy independence, Northern Oilfield Services in Williston believes in helping oilfield service companies who retrieve the oil from the ground and bring it to you in numerous household products and in gasoline. We do this by offering oilfield rental equipment, frac iron equipment, and drilling equipment to our customers throughout the West. when you partner with us for oilfield equipment rental, we also service and maintain that equipment, making sure you are compliant by your state’s law and making sure everything is in working order, which will do wonders for staving off unexpected shutdowns due to malfunctioning equipment.
Being an oilfield service company is hard work; let us take the equipment aspect off your plate so you can concentrate on serving your clients and growing your oilfield business. Contact us today!