U.S. almost energy rich: but for how long?

The United States energy industry is evolving quickly (but not congress’s ability to come to an agreement concerning climate change). The global price of oil per barrel is $70 higher compared to back in 2004. As a result, even though the U.S.’s domestic oil production has risen over the past two years (from 5.5 million barrels a day to 7.5 million), their annual bill for importing oil has skyrocketed to $365 billion.

Why?

All signs points to wasteful consumption habits. Americans simply take too much for granted. Companies focus more on profits than manufacturing conversion efficiencies, or utility bills, or energy alternatives.

The shale gas bubble in the U.S. has caused the domestic price of gas to drop from $10 per million cubic feet in 2010 to less than $4 million today. If car manufactures were to replace their gasoline and diesel engines with ones that ran on compressed gas, Americans could be paying as little as $0.50 cents a gallon. Imagine that!

Conventional power providers now fear that their coal-fired and nuclear plants are fast becoming extinct. Worse yet – their former customers might even become competitors, generating electricity for sale from new technology like the SH-Box by NRGLab – a portable generator capable of producing electricity for as little as $0.03 per kWh.

The U.S. government has barely addressed this impending energy revolution. Neither the Obama administration nor opposing Republicans have presented a clear-cut plan for how best to utilize the country’s newfound abundance of energy resources. A comprehensive reform of current energy policies must be conducted, while new policies that revitalize middle-class jobs must be passed.

But without a plan, will the U.S. allow this potentially world-changing opportunity to slip through their economic fingers?

While the rest of the world sits idly by and waits, NRGLab is striving towards a greener future with an array of innovative energy projects. From the aforementioned SH-Box, to the SV-Turbine for the gasification of agricultural waste, NRGLab is prepared to face the diverse problems we’ll surely face in the future.

For more information, visit nrglab.asia.


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