‘Center of the Energy Universe’: Industry, Political Leaders Convene in Oklahoma for Energy Security Summit

Sen noted that the percentage of fossil fuel usage as an energy source is the same now — 82 percent — as it was in the 1980s.

An aerial view of a crude oil storage facility is seen on May 5, 2020, in Cushing, Oklahoma. (JOHANNES EISELE/AFP via Getty Images)

Hamm predicted during the panel that it will not change in the coming decades, even with the push towards electric vehicles and other changes in the energy industry. Asked by Sullivan where the demand for oil and gas will be in 25 years, Hamm predicted it will be “about the same.”

“All the studies that have been done shows that we’re going to be on oil and gas for the next hundred years,” Hamm said.

Pompeo lambasted the Biden administration’s electric vehicle policies, too, arguing they are the driving force behind the United Auto Workers’ (UAW) current strikes.

“You can see thousands of UAW workers on strike as we’re going to move to EVs over several hours or whatever the Biden administration is hoping for,” Pompeo said. “That’s not political. That’s just bad math.”

Sen, during her remarks, also pointed to developing nations as a driver of energy demand.

“Fifteen percent of the world’s population consumes 40 percent of the world’s energy,” Sen said. “It’s very easy for us to say, ‘you developing countries shouldn’t be burning electricity of any kind.’ We don’t have the right to say that. I grew up in India. When I grew up, electricity wasn’t guaranteed. That is true today of pretty much all of Africa and a significant part of Latin America and Southeast Asia. I think we have to get out, particularly for the U.S. which is such a huge producer and potential producer of oil and gas, it doesn’t make sense to not serve those energy needs.”

Sen predicted that the demand for oil and gas will “continue to rise” worldwide, particularly in “emerging market countries.”

“Energy consumption and economic growth go hand-in hand,” Sen said, noting that the world, and particularly the United States, is “sleep walking into” a “crisis” of a lack of enough energy being produced to meet growing demand worldwide.

“Somehow, with the issues we have on the political front and not being able to communicate between industry and politics of political scenarios, I fear this crisis is only going to get worse and worse,” Sen said. High oil and gas prices — or at least oil prices — are here to stay simply because of some of these issues with the mismanagement of our supply. Gas is slightly different but again — longer term — very, very similar.”

There needs to be, Sen said, “collaboration” between industry and government, and “governments have to understand the need to have security of demand if they are going to have security of supply.”

Pompeo said he hopes the United States will recognize its potential in energy production.

“The United States has got to do its part to deliver this highly affordable product that will serve the entire world,” Pompeo said.

Sen. James Lankford (R-OK) during the Senate Homeland Security and Governmental Affairs hearing. (TOM WILLIAMS/POOL/AFP via Getty Images)

But perhaps Lankford put it best when he predicted that the most important part of this novel gathering will be the fact that it is forcing a conversation about energy between those who make it and those who make policy about it.

“When I say welcome, I’m fully aware that the power of the conversation will be some of the things that happen in the session but quite frankly it will be many of the conversations you have over dinner and breakfast and in side conversations in the hallways and inside meetings,” Lankford said. “I encourage you to pull people aside and start talking.”

“For all of you that make it possible for me to drive my truck, fly on an airplane back and forth to Washington, DC, and flick a light switch on in my house, thank you for what you do,” the senator added.