National Petroleum Council Report: Prudent Development of North America's Oil & Gas Resources

  • Wednesday, Oct 12, 2011

  • The National Petroleum Council (NPC) discussed how to prudently develop U.S. oil and gas resources at a CSIS event hosted by Frank Verrastro, senior vice president and director of the CSIS Energy and National Security Program. The study, Prudent Development of North America’s Oil and Gas Resources, commissioned by Secretary of Energy Stephen Chu, examined projected supply and demand for domestic energy resources and provided policy recommendations for how best to develop these resources in the short, medium, and long term.

    The NPC report stressed that the vast oil and gas resources found in North America have fundamentally altered the domestic supply and demand outlook. The United States fostered the tremendous technological innovation within the energy sector, providing access to previously inaccessible oil and gas resources. With these new supplies, the United States and Canada have the potential to meet their natural gas demand for decades.

    The report authors stressed that realizing the potential of these resources hinges on developing them responsibly—ensuring safety and protecting the environment and public health—by creating and implementing sound and effective polices.

    To guide future resource development, the report offers five key recommendations: support the prudent development of North American oil and gas; reflect environmental impacts in markets and choices; improve energy efficiency; enhance market regulation; and support intellectual capital and a skilled workforce. Prudent development that builds public trust and confidence is a prerequisite for the industry’s long-term viability.

    On September 16, 2009, Secretary of Energy Steven Chu requested that the National Petroleum Council (NPC) conduct a study evaluating North America's natural gas and oil resources supply chain and infrastructure potential, the role of natural gas as a transition fuel to a lower carbon fuel mix, and policy options for the development of North American natural gas and oil resources that mitigate environmental, health and safety concerns. The Council presented its report to the Secretary on September 15, 2011.

    Given the significance of and interest in this topic, the CSIS Energy and National Security program is pleased to host the individuals who chaired the study's substantive task groups for an in-depth discussion of the NPC report's key findings and recommendations.

    Speakers include:

    Policy, Macroeconomics & Overview:
    Clay Bretches,
    Vice President, E&P Services and Minerals, Anadarko Petroleum Company

    Resource & Supply:
    Andrew Slaughter,
    Business Environment Advisor-Upstream Americas, Shell Exploration & Production Company

    Operations & Environment:
    Paul Hagemeier,
    Vice President, Regulatory Compliance, Chesapeake Energy Corporation

    Demand:
    Ken Yeasting,
    Senior Director, Global Gas and North America Gas, IHS Cambridge Energy Research Associates, Inc.

    End-Use Emissions and Carbon Regulation:
    Fiji George,
    Director, Carbon Strategies Director, El Paso Corporation

    A copy of the Council's report is available on the NPC website.

    This session will be on the record. Registration required by COB, Tuesday, October 11th.  Please send your confirmation to energy@csis.org.
     

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