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First, there’s not one “energy transition.” How people and businesses produce and use energy will differ in various regions of the world depending on the resources available. One solution will not address every challenge. In some areas, oil and gas provide the best options; in other areas, wind, solar, geothermal or nuclear may deliver on the need. The reality: an energy mix of two or more sources is likely best.
Second, we need an array of solutions that meshes existing energy production with new technology. The energy transition is about inclusion rather than replacing one form of energy with another. The focus should be on the entire energy ecosystem working together to meet the world’s needs.
Third, the transition should be predicated on realistic goals and strategies that balance the need to meet growing demand, maintain affordability to sustain economic growth, and achieve climate goals.
Fourth, a realistic transition should acknowledge that all energy sources have environmental impacts, technological challenges, and efficiency rates. For oil and gas and other sources, these are well documented and understood. Renewables like wind and solar rely on critical minerals that must be mined at an unprecedented scale and are largely located in geopolitically sensitive areas.
Fifth, energy transition is about technical challenges that can be solved and overcome with ingenuity, invention and investment. We don’t need predetermined answers based on ideology or partisan politics. We need to be realistic about setting achievable goals for technology development and implementation. Artificial deadlines will not accelerate innovation.
Clean energy independence is possible by building on the technology and service sectors’ history of finding and deploying technological solutions on a global scale with good energy policy and wise investment. Companies are making production of oil and gas cleaner, safer and more cost-effective than ever before with technologies that cut energy usage, reduce emissions and streamline operations. These technologies include:
- Carbon Capture and Sequestration—Services companies are investing in all aspects of the CCUS value chain and creating partnerships with other industries.
- Efrac—Drillers are using gas that would otherwise be flared as an alternative fuel to power turbines and dual-fuel engines, and to slash emissions.
- Geothermal—The sector has the deep expertise to enable, de-risk and optimize projects that heat or cool buildings or provide power.
- Hydrogen—Companies are using their material science expertise to produce hydrogen. Manufacturers are making turbines that run on gas or hydrogen, and it may be possible to adapt existing liquid fuel infrastructure to transport and distribute hydrogen.
- Critical minerals—To achieve clean energy goals, the world needs to radically increase production of lithium and other critical minerals essential to energy storage and renewable technologies. Services companies are using environmentally friendly methods for subsurface brine extraction and lithium production that shrinks the physical footprint and reduces water consumption.
- Fugitive emission reduction—With new tools, including remote monitoring and drones, services companies are pinpointing leaks in real time so operators can take immediate action.
- Machine learning and automation—Big data analysis and automation allow companies to model operations, detect potential problems, predict energy savings opportunities, help facility managers make quick decisions, and enhance worker health and safety.
To build on our progress, support economic recovery from the pandemic, mitigate climate risks and protect America’s position in the world, we need energy policies that use our abundant resources to maximum advantage. A wise energy policy will support oil and gas production from federal lands to ensure a steady supply of domestic energy and resilience against climate effects and political upheaval abroad.
Clean, safe, abundant and affordable energy is possible if we set aside partisan political considerations and focus on technological solutions to real-world challenges. Every form of energy has advantages and disadvantages, but the American energy industry has innovated and adapted throughout its history. This time will be no different.
The Energy Workforce & Technology Council is a national trade association for the energy technology and services sector, representing more than 600,000 jobs in the technology-driven energy value chain.