America needs an America-first energy transition. I’m talking about a transition back to developing America’s abundant and reliable energy sources. Think oil, natural gas, and, yes, even nuclear. The alternative places American families at financial risk.
As a staunch advocate for reliable and abundant energy production and its positive economic impact, I am not surprised by the recent surge in gas prices in parts of California. Although prices are rising throughout the country.
— GasBuddy (@GasBuddy) September 11, 2023
The price hikes at the pump can be attributed to a lack of investment, diminishing oil supplies, and aging infrastructure. A situation that could have been avoided if the Biden Administration had focused on developing and expanding America’s energy resources.
The skyrocketing gas prices in Los Angeles and Orange Counties, where a regular gallon of gas has surpassed the $6 mark, underscore the vulnerability of being an energy island, requiring a heavy reliance on foreign oil sources.
It is evident that volatile global oil markets and geopolitical factors directly affect the prices American consumers pay for fuel and nowhere is this truer than in California.
By shifting our focus towards abundant and reliable domestic energy production, America can lessen its dependency on foreign oil and protect American families against such fluctuations.
Chevron CEO Mike Wirth recently predicted that oil prices may approach $100 per barrel, sending a warning signal to policymakers and the general public. Should gas prices continue to rise, American households’ budgets will face significant strain, limiting discretionary spending.
Higher energy prices also mean families will have less disposable income, resulting in reduced savings, investments, and contributions to their local economies. Not to mention a lower standard of living.
Increased domestic energy production offers multiple economic benefits.
When we tap into our own natural resources, we generate employment and stimulate economic growth. Developing new oil fields and expanding existing ones would also necessitate a skilled workforce, benefiting local communities and creating good-paying job opportunities.
While California has historically faced high gas prices due to excessive taxation, and green energy mandates, it is crucial to recognize that these factors could be mitigated if the state focused on re-developing its own energy resources. California has plenty of energy, what it lacks is political leadership.
Responsible energy extraction techniques, such as hydraulic fracturing, can allow California and the rest of the country to tap into its vast oil reserves and decrease reliance on more expensive, and less ethically sourced oil and gas. With respect to California, the state’s energy regulatory regime is the strictest in the world.
Moreover, investing in domestic energy production is not only beneficial for our economy, and crucial for national security, it is also essential to our ability to fund essential public services including K-12 education.
Energy independence leading to energy dominance strengthens our global standing and enhances our ability to navigate complex international relationships while also allowing us the standing to mediate global conflicts.
It is also important to note that any transition back to greater domestic energy production must be done responsibly, and with a commitment to environmental stewardship through the use of cleaner, innovative production methods, and technologies.
Indeed, new advances in production technology have allowed for more efficient and environmentally friendly extraction methods, minimizing the impact on local ecosystems and communities.
By prioritizing ethical practices and investing in abundant and reliable energy sources including oil, natural gas, and nuclear power, we can ensure a long-term, sustainable energy future for our country and our allies.