Energy is the grease that lubricates the U.S. economic wheel. It truly affects all our endeavors and is inextricably linked to our national security. The U.S. energy industry is robust, competitive and rapidly evolving. Recent events in California and rising prices for gasoline and natural gas have rocketed this industry into the public's spotlight and discussion. Secretary Abraham in a recent speech to the U.S. Chamber of Commerce stated, "The country is in the midst of an energy crisis with no short term solutions." Unlike previous energy crises, this most recent one has been largely self-generated by our inattention to trends, lack of leadership and mismanagement. Our assessment is that there are no shortages of energy supplies, just a lack of ability to deliver them efficiently to the consumer. Our challenge as a nation will be to develop and manage those energy resources in a way that achieves an acceptable balance between the often-competing demands of environmental protection and economic growth. This report addresses the current status and future prospects of the energy industry in meeting the country's future energy demands.
Industry Studies 2001