The Energy Policy of United States of America
The United States is regarded as the third-largest producer of petroleum. Furthermore, in U.S. waters more than 3,950 natural and oil gas platforms and more than 500,100 producing wells are operating. Local, federal and state entities determine the energy policy of the United States of America. Additionally, these entities address the subject of energy consumption, circulation, and production like gas mileage criterions and building codes. The energy policy of the country includes international treaties, legislation, taxation, guidelines for the conservation of energy ad subsidies to investment. The prime purpose of the report is to implement SWOT analysis tool to examine and analyze the impact of the examination of alternative gas or oil energy sources on the energy policy of the United States. The paper also critically scrutinized the causes that affecting the contracts and treaties for the oil and gas industry sector.In the United States, there has been a considerable rate of an upsurge in the production of unconventional gas and oil such as tight oil and shale gas. This emergence of the production led to the reduction of oil imports and lessening of prices of natural gas. Moreover, this rapid growth has raised many questions regarding its consequences on the energy sector, industrial competitiveness, macro-economy, and energy policy of the United States. The energy sources of unconventional oil and gas have foremost planned suggestions towards the future of the natural gas supply in the world. In the era of globalization and advancement of technology, the demand for energy has been raised. The chief contributor towards the lasting solution of the need for energy has been the presence of unconventional oil and gas. The potential of exploration of unconventional oil and gas has provided the opportunity to solidify their status towards the rising demand for energy. The following table is the impact of Capital investments and total operation of the natural gas and oil industry on the economy of the United States
In the year 2005, the Energy Policy Act was approved by .Congress for the use of alternative fuels and offers tax incentives for preservation. In 2007, the Competes Act of America and Energy Security and Independence Act were passed to encourage the development of bio-fuel and increase the requirements of fuel economy.