The future of America’s energy is bright as we enter the dawn of the American energy renaissance due to technological advances in extraction and move into the next level of economic creativity. This once in a generation opportunity offers hope to our most pressing issues – good jobs for the middle class, income inequality, and ensuring affordable energy for the poor and working poor.
It is no secret that climate change is a global challenge and America has found itself in a unique position to be a leader on the world’s stage with Millennials at the forefront.
As a generation, Millennials are embroiled in a battle between their wallets and finding pragmatic solutions to climate change. Naturally, this generation is predisposed to support initiatives that support a cleaner environment, as long as inconvenience and prices are kept in check.
Often called fickle, but never subdued, Millennials are early adopters, market disrupters, and are hyper-connected. They want to change the world, save the seals, and keep America beautiful. If their pay and patience are negatively impacted, Millennials will lose their enthusiasm for the cause.
Millennials take in information and make decisions faster than a cheetah sprinting after a wounded gazelle. They thrive on accessibility to facts and have forced the market to listen to them one tweet at a time. It is no surprise that, when it comes to the new American Energy Renaissance, Millennials are looking for a solution that suits them and they refuse to accept anything less.
Lucky for them, natural gas and oil production are aligning themselves nicely with the Millennials’ driving life ideology of having it all. Over the past 15 years, America has transitioned from energy scarcity to energy abundance, with the opportunity for more room to grow.
Currently, the United States leads the world in reduction of carbon emissions and clean burning natural gas driving emissions with clean-burning natural gas driving emissions in the power sector to 25 year lows. This level of success has created good-paying [energy] jobs, helped cut manufacturing costs, and stimulated small business throughout the country.
According to the AAA, in 2015, Americans saved on average over $550 per driver and thanks to shale energy, people saw an extra $1,337 in disposable income. These are the facts and figures Millennials can get behind, because it means more money in their pockets and cheaper gas prices.
In order to keep gas prices down and Millennials engaged with the American Energy Renaissance, the new administration will need to look to ensuring production and refining of natural gas and oil industry regulations do not hamper production. During the eight years under Obama, 145 new regulations were proposed on the natural gas and oil industry.
If there is any hope of keeping Millennials engaged in this once in a generation opportunity, known as the American energy renaissance, it will be imperative for the Trump administration to focus on market based principles with sensible regulations that convey Yes We Can and Making America Great Again.
The longevity of the American energy renaissance will be based on two things, sound energy policy focusing on market based solutions and keeping the Millennial generation energized by keeping their Prius on the road, their phones charged, and money in their pocket.