The topic at the 6th Annual Agricultural Development Forum was the economy, and certainly a closely watched sector of the economy is energy prices, usage, development, and the development of renewable energy sources. Daniel H. Moenter, Manager of State Government Affairs for Marathon Petroleum made this statement regarding energy:
“Every sector of the US economy depends on affordable energy. Every business owner, every factory worker, every household, every consumer, and certainly every farmer depends affordable, reliable supplies of oil and natural gas. To enjoy economic security, America must have energy security.”
As the world economy has emerged from recession, we’ve seen energy prices increase right along with the recovery. As the US continues to develop renewable energy sources Moenter suggests that natural gas, along with conservation efforts, become a bridge between where we are today and total energy independence:
“In the near-term increased energy efficiency and conservation plus greater use of natural gas can increase both our energy security and environmental performance.”
And the best part of that scenario is that natural gas is domestically available:
“It is estimated that the US is sitting on between 50 and 100 years worth of natural gas resources at current rates of consumption.”
Therefore: “These two near term actions; significantly increased focus on energy efficiency and conservation and increased use of natural gas can provide a bridge to the future giving us time to diversify and increase our sources of clean energy and to build out the significant infrastructure needed to distribute these new energy supplies.”
Daniel H. Moenter, Manager of State Government Affairs for Marathon Petroleum.