Producing and selling more oil and natural gas while developing cleaner methods is the direction the energy industry needs to go. That’s the recommendation given by Dr. Ken Morgan, keynote speaker at the Texas Alliance of Energy Producers meeting Wednesday at the Abilene Convention Center.
Morgan, director of the Energy Institute at Texas Christian University, has taught at TCU for 40 years and has spoken throughout the United States, Europe and the Middle East on resource mapping and emerging energy markets.
“Energy defines a lot in our society. We better make it a good word and we better learn a lot about it,” he said.
Future generations will see a very different world, he said, explaining China, India and South America are on the rise, with Africa not far behind.
“We won’t be the leader in energy use, but hopefully we’ll be the leader in producing that energy,” he said.
Morgan said the U.S. purchases 9 million to 10 million barrels of oil per day. The country now exports 4 million to 5 million barrels of gasoline and diesel fuel per day, which is helping to correct the imbalance.
He said he sees creating even more exports as necessary in the future. To do that, domestic exploration will be the key.
Recent advances allowing oil to be extracted from shale formations are essential to that production. Problems exist, Morgan agreed, such as controversial fracking but they can be addressed and solved.
He cited Environmental Protection Agency reports in 2012 and 2017 that found no evidence that fracking activities had affected nearby water sources.
“If it did (affect water sources), I wouldn’t want to be part of that company,” he said.
Reported seismic activity related to fracking could be simply a case of poor location of the disposal wells.
“You put them on top of a fault, you’re just crossing your…