"Reinventing Energy": A Critical Examination of the Possibility of Reducing Oil Use

The recent calls to drastically reduce oil use in the United States are based on flawed assumptions and a lack of understanding of the true facts about energy and the environment. A new book published by the American Petroleum Institute, "Reinventing Energy," provides a comprehensive and timely analysis of the energy landscape, debunking myths and misconceptions about oil use and its impact on the environment.

Key Takeaways:

• The world is not running out of oil, with proved reserves standing at nearly a trillion barrels, enough to sustain current production for at least 45 years.
• The need for imported oil is a manageable risk, as the world oil resources are abundant, and the U.S. has developed strategic petroleum reserves to stabilize the market in case of a supply disruption.
• Americans do not overconsume energy, using it as efficiently as other countries considering the size of the U.S., the energy-intensive industries that flourish here, and the American lifestyle.
• Environmental quality has improved significantly over the past 25 years, with American cities far more smog-free, and tailpipe emissions having dropped by 96 percent since the advent of pollution controls.
• Alternative fuels are far from perfect substitutes for oil, with most being more expensive and having performance limitations, and none being pollution-free.
• The implications of fossil fuel use for the global climate are uncertain, and society needs to weigh the potential environmental benefits against the need for economic growth and development.

Statistics:

• Proved world oil reserves stand at nearly a trillion barrels.
• U.S. oil production has peaked, but proved world reserves are higher now than ever before.
• Supply disruptions of oil imports are less of a danger than in past years due to abundant world oil resources and the development of strategic petroleum reserves.
• Tailpipe emissions have dropped by 96 percent since the advent of pollution controls.
• American cities are far more smog-free than 25 years ago, with levels of five "criteria" pollutants measured by the EPA having declined between 1970 and 1993.

Sources:

• American Petroleum Institute, "Reinventing Energy" book (published in 1995)
• U.S. Environmental Protection Agency (EPA) data on air quality (1970-1993)