WHEELING: The energy sector needs to re brand itself as the industry with solutions, a U.S. Chamber of Commerce executive told oil and gas executives.“Energy is the solution to economic problems; to our geopolitical challenges; to competitiveness,” said Karen Harbert, president and chief executive officer of the U.S. Chamber’s Institute for 21st Century Energy.
The institute endeavors to build support for meaningful energy action through policy development, education and advocacy. Harbert spoke at the West Virginia Oil and Natural Gas Association’s 100th anniversary annual meeting at Oglebay Resort. West Virginia University President E. Gordon Gee and deans from the university’s colleges of law, engineering and agriculture/forestry were among the other speakers.
It is forecast that unconventional oil and gas development will spur $5.1 trillion in investment over the next 10 years and create close to four million jobs, Harbert said. The demand for energy is forecast to go up by 56 percent by 2040.“We’ve got the resource base to be the energy superpower if we want to,” she said. “America leads in recoverable fossil fuel supplies. Between Canada, the United States and Mexico, that’s the new center of power in the energy market but we’re going to have to capture that opportunity.
