Domestic oil and gas supplies are shrinking. If forced to rely solely on
domestic oil production for all of its needs, the U.S. would be completely
out of oil within 23 years. America now imports half of the oil it needs.
Over the next 15 years, that figure could rise to 70 percent.
TABLE 2: U.S. Remaining Energy Supply
years remaining at 1994 consumption rates
||23 years left
||68 years left
||364 years left
||7,007 years left
For energy security and long-term economic growth, we must look beyond
fossil fuels. Renewable energy offers a cost competitive option in an
expanding range of applications, especially in rural areas.
Over the past decade, solar, biomass and wind power costs have fallen
dramatically and are now becoming competitive with fossil fuels.