Like other forms of infrastructure, America’s energy infrastructure is a key driver of job creation, growth and competitiveness throughout the economy. Maintaining a modern, flexible and secure network of electric power transmission and distribution lines, oil and natural gas pipelines, and storage facilities is essential to delivering affordable and reliable energy to U.S. businesses and consumers, promoting growth across all sectors of the economy, and supporting the country’s thriving domestic energy industry.
Unlike other forms of public infrastructure, American energy infrastructure is largely privately owned, operated and financed. The major obstacle for transportation infrastructure renewal — funding — is not a significant problem for energy infrastructure. Until quite recently in fact, privately financed U.S. energy infrastructure renewal has been an American success story. However, technology and policy drivers are rapidly changing the way energy is produced and consumed in the United States, requiring a faster pace of investment and modernization.
Currently, the regulatory framework and permitting systems that surround the energy sector were designed for another age, locking in a pace of infrastructure modernization and expansion that is out of step with the energy sector’s rapidly changing needs. Congress and the Administration have a unique opportunity to accelerate investments in energy infrastructure by updating regulations, establishing strong investment incentives and streamlining permitting processes — ultimately putting more private-sector capital to work for America’s farms, factories and households.