National security, energy and the economy are all major talking points in American politics. They dominated many discussions leading up the election and, now that the season is over, they are still three of the most important topics to U.S. citizens. However, all three could be improved due to increased domestic energy production, which has been made possible through the use of innovative oilfield equipment.
An article in The Christian Science Monitor examines the recent reports suggesting the U.S. will soon become the world's number one oil producer. Guest blogger Will Rogers says that, if this happens, the current economic landscape will certainly improve.
"The changing energy landscape is sure to pay dividends to the American economy," Rogers writes. "Increased domestic oil production could make a dent in the $460 billion a year U.S. consumers spend on foreign oil, shrinking the current account deficit and strengthening the dollar. At the same time, a glut in shale gas has contributed to cheap natural gas prices that are lowering energy bills for American businesses. Cheap electricity prices and more affordable petrochemicals that are derived from natural gas are together paving the way for re-shoring of some manufacturing jobs that moved abroad when trends were reversed."
Additionally, increased domestic production will improve the United State's national security situation. By mitigating dependency on foreign oil, the U.S. can alleviate the risk for disputes with foreign producers. Drilling for oil in the United States and keeping it in the country is the best way to ensure the economy stays strong, the U.S. remains energized and the citizens stay safe.
However, this puts a tremendous amount of pressure on domestic oilfield producers. These companies must invest in proper technologies that promote quick and efficient operations, such as artificial lift. Those looking to improve their processes should contact an oilfield solutions provider.