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Seven Energy Myths
In our discussions with Americans, we found seven major disconnects -- areas where myths and misperceptions stand in the way of real solutions.
Myth: Oil prices are artificial
Reality: Oil trades on a global market. Price is affected by supply, demand, fears and speculation like any other trading market. The price is very transparent.
Myth: We’re running out of oil.
Reality: Oil resources are out there, should we choose to develop them.
Myth: We have to choose between energy and the environment.
Reality: The energy industry has made tremendous advances in finding ways to reduce the environmental impact of oil and gas production.
Myth: Importing energy is better than dirtying our own backyards.
Reality: Environmental issues, especially issues of greenhouse gases and climate change, are global issues.
Myth: Alternative fuels are a “magic bullet.”
Reality: We believe in alternative fuels – but not magic.
Myth: We can conserve our way to energy security.
Reality: In our discussions, we have advocated a “culture of conservation” that relies on energy-efficient technologies, but that cannot be the full solution.
Myth: Oil and gas companies make huge profits and are sitting on mountains of cash.
Reality: Oil industry profits are in line with other major manufacturing industries.