A recent poll commissioned by the American Petroleum Institute (API) of U.S. registered voters has found that a majority agree that domestic natural gas and oil production could lower energy prices and ensure national security.
The poll conducted from June 23-25 of 2,003 registered voters by Morning Consult for API found that at least 88% believe it is at least somewhat important to produce natural gas and oil domestically. About 7% said U.S. production was not important/not important at all, while 5% had no opinion or were unsure.
“American voters understand and support the critical role the natural gas and oil industry plays in powering our nation’s economy,” said API CEO Mike Sommers.
When asked how important domestic gas and oil production is to strengthening the U.S. economy, a majority (88%) said it was at least somewhat important. The same share of respondents also agreed that U.S. oil and gas production could help lower energy costs for American consumers and small businesses.
On the back of strong natural gas production and less demand this year, the cost of natural gas has decreased from 2022 highs. According to NGI’s Bidweek Historical Data, July natural gas prices traded at $2.600/MMBtu, down from the year-ago price of $6.560. The cost of utility natural gas service has also declined 18.6% year/year, according to the Bureau of Labor Statistics’ Consumer Price Index (CPI) report for June.
The surveyed voters somewhat agreed (87%) that domestic energy production “helps make [the] country more secure against actions by countries such as China and Russia,” according to the poll.
“It’s time for Congress and the administration to build on recent momentum and continue to drive improvements to our permitting process that enable American energy to serve as a foundation for long-term economic growth and energy security,” Sommers said.
Nearly all (94%) of those surveyed said the economy was at least a somewhat important issue. A majority (82%) also said the environment was at least a somewhat important issue.
Asked whether they supported or opposed regulatory actions to slow or stop the country from developing energy resources, one-half were opposed to government regulations. However, more than one-third (37%) were at least somewhat supportive, while 13% were unsure or had no opinion.
The poll surveyed respondents from across the country, including Democrats (41%), Republicans (37%) and Independents (23%).
Author: Morgan EvansPublication: Natural Gas Intelligence
https://www.naturalgasintel.com/most-americans-support-u-s-oil-natural-gas-production-poll-finds/