The United States is undergoing a renaissance in all aspects of the energy sector. Experts say that in the next five years, the United States will be the world's largest producer of oil and natural gas. Wind and solar continue to add capacity to the electric grid and the American energy portfolio is becoming more diverse than ever. Energy independence and security is becoming a real possibility where just ten years ago it was a pipe dream.
As we continue toward the path of energy security, I favor an all-of-the-above approach to our energy needs. We must use all available resources to diversify our energy portfolio and support the American economy.
The reason energy security is so important is because it affects the daily lives of all Americans. Domestic production of oil and natural gas can lower prices at the pump as well as utility bills. As we promote energy production of all types, we also will create job opportunities for many Americans within the energy industry.
We are championing a rebirth of American manufacturing where jobs are being brought back from overseas. As we create more jobs, it will be critical that we use all available domestic energy sources so we may continue to grow our economy.
Domestic energy production impacts our foreign policy as well. Once the United States reduces dependence on Middle East crude oil, we will no longer be forced to import our resources from volatile regions around the world. Producing energy here in America will help stabilize the prices we pay for energy and consumer goods.
Natural gas is serving to be one of the biggest game changers in the energy sector. I am a co-chair of the bipartisan Congressional Natural Gas Caucus to provide an educational platform for my fellow Members of Congress to learn more about the many benefits natural gas is providing our country.
In October 2015, we unveiled a comprehensive energy strategy aimed at ending America's dependence on Middle Eastern crude oil. Our proposal, A Plan for America's Energy Future, is a comprehensive approach to energy security which focuses on using all types of existing energy resources, keeping utility costs low for families and reducing burdensome regulations on businesses, including our manufacturers.
Here are a few highlights from our energy proposal:
Expand energy development on federal lands
Support upgrades to our nation's energy infrastructure
Develop initiatives to ensure a skilled workforce in the energy sector
Reform the regulatory process to reduce red tape
Ensure competitiveness for the application of all forms of energy