RealClearEnergy | May 5, 2016 | David Holt
America’s energy revolution has resulted in record-low oil and gas prices, which have allowed us to keep warm for less, use energy-intensive electronics like smartphones, drive more than ever, and better provide for our families.
For many, the pleasantries of everyday life are made better with abundant, safe, and affordable energy. For others, reliable and inexpensive energy ensures shelter, food, clothing, and the ability to make a better life.
If you’re an energy consumer – and if you’re reading this, you are – your life has been made better by America’s energy revolution.
Unfortunately, according to the International Energy Agency (IEA), this could all change.
The IEA recently warned consumers not to let the current low price of oil and gasoline fool them into a false sense of security amid forecasts of a price spikes in the next few years.
“It is easy for consumers to be lulled into complacency by ample stocks and low prices today, but they should heed the writing on the wall,” IEA executive director Fatih Birol cautioned. “The historic investment cuts we are seeing raise the odds of unpleasant oil-security surprises in the not-so-distant future.”
This warning is a stark reminder that today’s budget-friendly energy prices might soon be the good old times of tomorrow if we don’t maintain a domestic all-of-the-above energy strategy – a strategy that, as President Obama outlined in a State of the Union speech a few years back, “develops every available source of American energy.”
Read full editorial here.
David Holt is the president of Consumer Energy Alliance