Looking Forward

Santa Maria Energy is proud to be part of a local solution providing a natural resource that is so critical to our national interest and to our quality of life.

The world moves on oil. At present, daily world oil consumption is approximately 84 million barrels daily and world oil production is also approximately 84 million barrels, creating a delicate equilibrium. A relatively small imbalance between supply and demand can cause oil prices to move significantly, affecting billions of people around the world.

According to the Energy Information Administration, the U.S. consumed approximately 18.8 million barrels and produced approximately 9.1 million barrels each day in 2009. The EIA also advises that the U.S. will require more energy in 2035 than in 2009 (see illustration) and fossils fuels (coal, oil and natural gas) will provide almost 80 percent of the energy we need, with oil and natural gas making up over 50 percent.

As the Chinese, Indian, and other emerging economies grow, and worldwide standards of living improve, it is predicted that worldwide demand for oil will continue to rise. Why? Because demand for consumer products, including automobiles, is expected to increase, and virtually all consumer products depend upon oil. In addition, many consumer goods are made with products derived from oil and virtually all are delivered by trucks, trains, ships and planes powered gasoline, jet or diesel fuel.

For as long as oil continues to be critical to meeting our energy needs, it makes economic, environmental and political sense to source as much as possible here. Every barrel produced at home brings us closer to energy independence. By developing our abundant and well-regulated domestic petroleum resources, we spur capital investment, create jobs, produce tax revenues, spawn economic prosperity, and strengthen our federal, state and local economies.