Research and the creative application of technology helped build the oil and natural gas production curves in the United States. Research and technology will grow the natural gas production and slow the oil production decline in the future. Research and applied technology have long-term value that is significantly greater than the initial investment.
The United States has an energy problem. The American public must recognize the positive safety and environmental record the oil industry has built in the past 10 years, and they must get behind Federal support of fossil energy research if we are to avoid dependence on foreign sources of natural gas. The private sector can be proactive by creating a Private Energy Research Foundation (PERF) to help fund vital energy research.
Energy Information Administration, 2000, Annual Energy Review 1999.
Energy Information Administration, 2000, National Gas Monthly, August 2000.
Kim, E. M., Tinker, S. W., Fisher, W. L., and Ruppel, S. C., 2000, Benefit/cost analysis of GRIs gas supply research initiative: economics of a gas supply research trust fund to increase gas production of Federal lands: The University of Texas at Austin, Bureau of Economic Geology, final report prepared for Gas Research Institute, 70 p.