The U.S. Chamber of Commerce's Institute for 21st Century Energy recently released a report on its Index of U.S. Energy Security Risk (U.S. Index) that indicates the 2015 level of risk is the lowest since 1996.
“The outlook for U.S. energy security is as bright as it has been since we started measuring it back in 2011," the institute said in its report. "While it is never safe to bet against America’s entrepreneurs, one should also never take a bright energy future for granted either.”
The institute notes that energy security risks were at their highest levels in 2011 and have fallen every year since, a trend yhat continued in 2015. The risk index for last year reached 77.9, the lowest score achieved since 1996.
The institute attributes the low sore to the renewed domestic production of oil and natural gas from shale formations through processes such as hydraulic fracturing, horizontal drilling and advanced seismic imaging. According to the report, this increased production has led to economic benefits throughout the country in the form of reduced imports and an improved balance of trade, in turn creating good-paying jobs as well as reduced energy prices and expenditures.
More Stories
- U.S. DEPARTMENT OF STATE: Secretary Pompeo Approves New Cyberspace Security and Emerging Technologies Bureau
- DHS: Acting Secretary Wolf Condemns Violence at The U.S. Capitol
- ICYMI: President Trump signs Omnibus Spending and COVID Relief Bill, Uplifting American Families, Investing in American Infrastructure and Enhancing American Conservation
- DHS: Modernizes Critical Identification Requirements after Congress Passes REAL ID Modernization Act
- Institute for Defense Analyses taps Marrs to division director in Virginia
- DHS: Warns American Businesses about Data Services and Equipment from Firms Linked to Chinese Government
- U.S. DEPARTMENT OF STATE: Additional Restrictions on the Issuance of Visas for People’s Republic of China Officials Engaged in Human Rights Abuses
- U.S. DEPARTMENT OF THE STATE: Passing of Niger’s Ambassador to the United States
- DHS: Acting Secretary Chad F. Wolf Approves Appointments to the Faith-Based Security Advisory Council
- Center for a New American Security board member congratulated for pick as Biden’s National Intelligence director