The term energy independence has been circulating around for awhile, yet different recent world events have been making the issue more prominent once again. Between an expected Trump presidency and recent agreements made within OPEC, oil and gas prices are expected to rise, leading to the rise in everything from the cost of your energy bill to plastic products. Energy independence is the process in which a country is able to provide for all the energy needs internally for one energy source or a variety of them. Here, in the United States, reaching energy independence has been a struggle, but there are some new players in the energy game, making energy independence more of a reality.
The United States is the second greatest energy consumer in the world, second only to China, with India in a far third place. Additionally, energy needs are ever growing. With previously limited access to certain oil and natural gas fields, the point where production couldn’t meet the energy consumption needs of the world was quickly coming. However, with technology changes and other industry changes, meeting the world’s, and especially the United State’s, energy needs are stable for the time being.
Innovative technology in hydraulic fracturing and increased renewable energy sectors are making sure that energy is still affordable and growth is still possible. The biggest concern is that for some things there are no alternatives to oil and natural gas. Oil, natural gas, and other petroleum components are still major components to be able to have freight transportation, petroleum-based plastics, and key chemicals to large-scale manufacturing. These are major components of the economy that provide jobs and other key components to daily life in the United States.
The current technology and new geological surveys have provided an opportunity to not slow down. The Permian Basin that we mentioned previously on the blog provides opportunities to expand energy production to meet consumption needs, especially natural gas production. Many new fracking sites will be popping up all over the basin near Midland, Texas to take advantage of the available resources. Manufacturers of equipment for hydraulic fracturing, like frac tank providers and drill manufacturers, will be providing jobs to provide products. This is an opportunity to move the United States to a place where we are fully energy independent and can remain that way for a substantial amount of time. In fact, analysts predict that the United States could be very close to being energy independent by the year 2020 if we continue on the energy production path that we are currently on. Ironically, this has become a possible reality due to the push for natural gas drilling and usage during the Obama presidency.
As natural gas drilling continues to grow, so will the need for specific hydraulic fracturing supplies. If you’re in need of frac tanks for either water storage or frac fluid storage, turn to Well Water Solutions for affordable and innovative above ground liquid storage tanks. Contact us today for more product information and pricing.