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The report said that the U.S. oil and gas industry has been committed to providing reliable and affordable energy supplies to U.S. consumers and businesses. The advanced technologies used in the development of these industries have dramatically changed the extraction and production of energy resources. But in any case, the technological innovation in the energy industry still has a lot of room for development. It needs to continuously develop more advanced exploration, mining and production technologies.
The report pointed out that energy companies need to actively develop and expand the use of alternative and renewable energy sources, including geothermal energy, wind energy, solar energy, biofuels, and next-generation vehicles, while providing energy and natural gas for economic development at present and in the future. The need for hydrogen power and lithium batteries to promote energy diversification.
The report also stressed that in addition to investing in renewable energy, energy companies must also realize that the largest "new" energy available is to increase energy efficiency. In the future, the United States must raise the efficiency of energy use with high standards. Oil and gas companies must play their part in this regard.
The “American Energy Status†report released by the American Petroleum Institute in the capital of the United States on the 4th stated that the U.S. energy industry faces three major challenges: technological innovation, energy diversification, and improving energy efficiency.