How U.S. Investments Are Fueling the Energy Industry’s Future

As an energy industry, we have great reason to be optimistic. Oil and natural gas production are at record levels. Liquefied natural gas (LNG) export from the U.S. is set to reach a new high. The long-pursued U.S. title of net “exporter” has finally been realized. The industry is feeling good about where we are now, and looking toward long-term investments in three key areas that will sustain this growth for the future.

Domestic Projects

Industry leaders are investing in projects to optimize output from wells, pipelines and plants. Domestic investments, in particular, support the health of the energy industry with impacts that not only help the U.S. secure its industry position and maintain focus on a strong energy infrastructure, but also extend well beyond our borders. Golden Pass, for example, is a $10 billion ExxonMobil and Qatar Petroleum project to export LNG from the Texas Gulf Coast. ExxonMobil expects the facility to eventually produce about 16 million tons annually – a significant sign of U.S. energy strength.

We are also seeing similar large-scale investments in big shale basins. The Permian Basin, in particular, is set to break its own production records and holds nearly 50 years of fuel, according to The U.S. Geological Survey. Companies, including Emerson, are investing in the region as a result. This year, we have extended our commitment to support customers in this region with a new Permian Basin Service Center to provide expertise, products, services and on-site training in digital solutions to support another key area – the existing and new energy workforce.

Workforce of the Future

To truly succeed in today’s global economy, the industry must help its workforce develop the technology skills needed to support a digital energy industry. And there is no time to waste: 10,000 baby boomers reach retirement age every day, a trend the Pew Research Center expects to continue through 2030. Couple that with the need to fill 3.5 million manufacturing jobs over the next decade, and it is clear that we must use the latest technology innovations to attract the next-generation workforce to the energy industry and invest in training to develop the critical skills they need. 

North American Infrastructure

The third key area – reinforcing energy infrastructure throughout North America – is of critical importance. The infrastructure that has served as the foundation for the oil and gas industry is aging. However, these pipelines remain critical to fulfilling ever-increasing capacity needs. We know it is not economically viable to replace this infrastructure, so the best solution is to optimize what already exists with technologies that monitor health and performance to maximize reliability and safety.

We must also make investments in new infrastructure. These new infrastructure projects must be planned from the start with the highest standards of safety, performance and efficiency – including predictive and proactive operations management, highly accurate leak detection, emissions monitoring solutions and more.

The U.S. is experiencing record success in energy production and exports – and we have plenty to celebrate. However, we must work to continue this positive trend. Bolstering our investment in both the assets and people who bring them to life is crucial to continued momentum – and supporting the global energy economy. 

Originally published by David Farr on LinkedIn.