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The Power and Growth Initiative at the Manhattan Institute is focused on increasing public understanding of North America's abundant energy resources and encouraging public policies that will allow the United States to
harness the benefits—for our economy and for our influence in the world—of that abundance. This effort springs from a new energy reality: technology has unlocked our vast resources of natural gas, oil, and coal for both domestic
use as well as export, and can create millions of new jobs while providing affordable energy to the world.
By 2030, the International Energy Agency forecasts global energy demand to grow by about 50 percent, to some 120 billion barrels of oil equivalent per year. Of that amount, the IEA and other forecasters expect that up to 80
percent will come from oil, coal, and natural gas. The vast natural resources of the United States and its North American allies in Canada and Mexico, mean that we stand capable of supplying much of the new demand. Yet the
underlying paradigms embedded in American energy policy and regulatory structures are anchored in the idea of shortages and import dependence. A reversal in thinking is needed to orient North America around hydrocarbon
abundance. The United States alone has thousands of billions of barrels of oil-equivalent in the form of coal, oil and gas shales, and other non-conventional resources. Canada and Mexico also sit atop thousands of billions
of barrels of hydrocarbon resources, all of which will become increasingly accessible and affordable as technology evolves.
The United States is not running out of energy. It is time to appreciate the staggering economic and geopolitical benefits that the development of our vast hydrocarbon resources can bring. It is no overstatement to say
that jobs related to extraction, transport, and export of hydrocarbons can awaken the United States from its economic doldrums and produce revenue such that key national needs can be met—including renewal of infrastructure
and investment in scientific research.
Recent Articles
- Information Technology Has Created a New Electric Demand Paradigm Mark P. Mills, Forbes.com, 01-08-13
- Fracknation: An Elegant Antidote to Media Misinformation Mark P. Mills, National Review Online, 01-07-13
- Media Matters Says Conservatives Rubber Stamp the Romney Energy Plan Mark P. Mills, Forbes.com, 08-25-12
- Romney Chooses a Tech-Centric Energy Plan to Jumpstart Jobs and Economic Growth Mark P. Mills, Forbes.com, 08-23-12
- U.S. Can Become An Energy Export Nation Mark P. Mills, , 07-25-12
In the News
- America Should Establish An Energy Market Of Its Very Own, Editorial, Investor's Business Daily, 7-25-12
- Linked on RealClearEnergy.com, 7-12-12
- Linked on DailyMarkets.com, 7-12-12
- U.S. becoming the Saudi Arabia of oil. And coal. And natural gas, Crains Cleveland Business, 7-10-12
- The New Energy Revolution And Its Biggest Losers, Canada Free Press, 7-10-12
- Beyond Energy Independence: US Could Become Exporter, AOL Energy, 7-10-12
- North American oil, gas reserves put global warming on defense, Desert News, 7-10-12
- U.S.-The Saudi Arabia of Oil?, Powerline Blog, 7-9-12
- Linked on RealClearPolicy.com, 7-9-12
Podcast
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