As described in a recent MarketWatch article, the U.S. has experienced considerable volatility and change over the past two decades. Keep in mind, volatility and change are part of U.S. history. The speed of change and policy uncertainty opens the door to reimagination, especially when it comes to U.S.-produced energy.
According to the October 2022 Consumer Price Index, year over year, all types of gasoline are 17.5 % higher, fuel oil 68% higher, electricity 14.1% higher, and natural gas 20% higher.
The likely way forward is by tapping into the intellectual capital across the energy spectrum, including nuclear, solar, biomass, wind, oil, coal, hydroelectric, natural gas, hydrogen and fuel cells. The energy industry is an ecosystem, and like it or not, it is entirely interdependent. No individual sector of the industry can survive alone. Nor should it. An effort to bring representatives from the whole ecosystem together would allow each of the energy sectors to develop and shape precompetitive strategies for a practical and viable energy policy. With this scale, the entire energy generation, storage, and transmission industry could build a long term strategy, an implementation roadmap, and a viable transition plan to a better, more stable future.
One of the clearest pathways to energy price stability comes from certainty—or at least reliability—around energy policy. It’s time for the energy industry and their suppliers to reimagine energy policy by leveraging their collective assets and employ strategic partnerships with trade associations.
Post Midterms: The U.S. Needs A Consistent Energy Policy. It is achievable by utilizing the collective wisdom and innovation through these strategic partnerships in order to create a path forward that does not exist today. It presents a new opportunity for the energy industry to work with current and future administrations, Congress, and regulators to collaborate and finally deliver clear and consistent energy policy, reliable and multiple sources of cleaner burning energy, and pricing stability for consumers.
Book Dan Varroney as a speaker for your meeting, conference or group and learn how to tap into the potential of strategic partnerships with industry associations from the author of the groundbreaking new book, Reimagining Industry Growth.
