Institute for 21st Century Energy

U.S. Chamber of Commerce

Karen A. Harbert President and CEO Institute for 21st Century Energy U.S. Chamber of Commerce

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$4.00 $3.50
$3.00

$2.50 $2.00
$1.50

$1.00 $0.50 $0.00

$1.71

$2.66

$3.10

$3.26

$3.72

Dec. 2008

Dec. 2009

Dec. 2010

Dec. 2011

Feb. 2012

Gas price changes since December 2008

An Inconvenient Energy Truth

Global Energy Demand To Grow 53% by 2035
Global Energy Demand by Region: 2007 & 2035
200 175 150

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Quadrillion Btu

125 100 75 50 25
0

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World oil production by source

120 mb/d 100 80 60 40 Natural gas liquids Non-conventional oil Crude oil - yet to be developed (inc. EOR) or found Crude oil - currently producing fields

20
0 1990

64 mb/d of gross capacity needs to be installed between 2007 & 2030 six times the current capacity of Saudi Arabia to meet demand growth & offset decline
Source: IEA 2008

2000

2010

2020

2030

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Rhetoric vs. Reality

Change in Oil and Gas Production Federal vs. State and Private Lands FY 2010-2011

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Oil

Natural Gas

Oil

Natural Gas

Production on Federal Lands

Production on State and Private Lands

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Fueling Our Economy

By 2030, U.S. oil and natural gas policy changes could generate more than: 1.4 million new jobs; $800 billion in additional government revenue; and 10 million barrels worth of added daily oil and natural gas production

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Fueling Our Economy

Shale plays are on pace to create

+200,000 jobs in OH by 2020 +115,000 jobs in PA by 202 (140,000 existing) +100,000 jobs in TX, LA, and MS

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Keystone XL Pipeline proposal

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Canadian Oil Sands Benefits

Currently supports 80,000 U.S. jobs Could increase to 94,000 - 600,000 U.S. jobs by 2035 Keystone XL pipeline could create 20,000 US manufacturing jobs immediately and 250,000 by 2035 The projected impact to U.S. GDP would be between $200 billion - $800 billion

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Coal on the Rise

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New Capacity Investments

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Wheres public opinion?

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Energy on the table in the Tax Debate $ 18 billion

Time to TAKE ACTION

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AT RISK: Americas national security, investment climate and competitiveness

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