American dependence on foreign oil poses several problems both environmentally and economically. While researching other energy sources is a part of the solution to the energy crisis, producing domestic oil will keep American wealth at home as well as allow for a cleaner retrieval of oil and natural gas.
The oil reserves of the United States were estimated at two trillion barrels of oil in September of 2011. This includes other drilling opportunities like eagle ford shale oil, as well as resources like the Bakken in North Dakota and other shales throughout the United States.
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Environmental Benefits
By producing more oil at home, Americans can be more confident that the oil they use were retrieved in an environmentally-friendly manner. Numerous regulations ensure that areas surrounding oil well sites are not harmed and that water sources are protected through more environmentally-friendly procedures. These same precautions are not taken in all other countries from which we import oil.
In the United States, seven layers of steel and concrete cover the pipelines in the ground so that no oil or chemicals can escape and contaminate water supplies. In addition, drilling is done thousands of feet below the surface, far away from the water table so that there is no way water wells can be contaminated. In fact, of more than 1 million wells that use hydraulic fracturing, there are under 300 cases of water contamination being investigated by the Environmental Protection Agency. Assuming these cases result in a positive connection, that leaves a 0.025 percent contamination rate. As it remains, only one instance of water contamination exists.
Regulations also control how any waste from drilling is disposed of, and how close well pad sites can be built together. As the Environmental Protection Agency continues to research oil and drilling techniques, they can most adequately pass regulation that protects the environment.
Economic Benefits
By using the natural reserves of Eagle Ford Shale oil in the United States, American money will stay in the country, stimulating our economy with more jobs, more wealth, and more opportunities. Instead of money going to support oil dictators who have taken advantage of their countries’ natural resources for years, money will stay in the country to support local and national endeavors. Domestic oil will also reduce the influence of foreign affairs on our country and economy, making us more oil-independent.
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Energy companies understand and support the need to pursue renewable energy sources, but finding natural reserves within American borders is a part of the process of restructuring the energy market in the United States. By keeping American money in the country, we can stimulate the economy and fund more energy research for a more sustainable future.
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