Energy Trends Discussed
The mix of energy sources used in Kentucky is expected to diversify over the next decade. Still, an expert on America’s oil and gas industry argues green energy has its limits. Bernard Weinstein with the Dallas-based Maguire Energy Institute told Lexington Rotarians these energy sources rely too heavily on government subsidies. “I’m in favor of everything, but I think all energy resources need to be put to the market test. My gripe with renewables, if you want to call it that, is that we’ve been subsidizing them for 20 years, and they’re still not able to stand on their own,” said Weinstein.
Weinstein believes domestic natural gas and oil production offer the best opportunities over the next decade. A decade from now, he suspects oil imports will drop from about 43 percent of what needed by the U-S to about 30 percent. He adds more of it will come from Canada and Mexico.
Weinstein says nuclear power should still be considered a viable option in the years ahead. He’s also pushing for more off-shore oil drilling along the east and west coasts of the United States.