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Paul Dabbar writes in The Wall Street Journal on how deregulation has created U.S. energy independence.
- The United States has achieved energy independence and affordable energy prices by embracing private sector innovation and deregulation.
- The Department of Energy’s national labs have also played a key role in the research and development of emerging technologies.
- In Europe, we are seeing regulations and restrictions create fuel shortages and higher prices for consumers.
- If the United States wants to continue its energy independence, we must unlock the innovation of the private sector by reducing harmful regulations that stifle progress and continue to invest in energy R&D.
“Technological innovation and broad deregulation are responsible for transforming the U.S. into a global energy powerhouse. The development by American oil and gas companies of new horizontal drilling techniques and the perfection of the process of hydraulic fracturing were key elements in this turnaround. Inventing and adding additional energy supply options reduced the need for oil and gas supply to provide for domestic energy uses, freeing more up for exports.”
Read the full article here.
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