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What Will Energy Independence Mean?

Tuesday, October 1, 2013
The Society for the Advancement of Consulting® has asked its global members to comment on what U. S. energy independence in the next decade might mean to business. "We are a global association of top consultants," notes SAC CEO Alan Weiss, PhD. "and we regularly ask our clients and our members what they are seeing. Here's a representative sample."

Dr. Maynard Brusman notes: "Energy independence will help the US reap countless political and economic dividends. It will help the trade deficit, give American companies and workers benefits when oil prices are high, and insulate the country from supply shocks. It will also give Washington wider latitude when dealing with oil-producing countries, on which it will depend less."

According to Dr. Brusman, "Evidence suggests that energy independence could be a significant job creator. A 2012 report by Citigroup estimates the U.S. gross domestic product could increase by more than $600 billion as a result of new petroleum and natural gas production. This includes more than 550,000 jobs directly created in the oil and gas extraction sector and more than two million jobs created as a result of new production. In addition, 785,000 jobs would potentially be created, as businesses would have more cash on hand to invest in strategic talent management initiatives or build capacity as a result of paying less for the energy required to operate offices and vehicles.

In volatile economic times when difficult economic conditions increase stress, people seek more meaning at work. Energy independence with a sustainability focus will provide fuel for innovation, and engage and inspire your people to achieve business results." Dr. Brusman is a consulting psychologist, executive coach and workplace expert specializing in emotional intelligence and mindfulness leadership development.

"As a global business consultant and former supply chain executive, I’ve seen that energy plays a vital role in manufacturing," points out Lisa Anderson, President of LMA Consulting Group, Inc. in Claremont, CA. "There are countless materials and manufacturing processes which are dependent on energy. When I was a VP of Operations, energy dictated a significant portion of my focus due to its impact on key profit drivers. US energy independence will change the business environment dramatically as companies transition their processes and partnerships with the new reality."

"Becoming energy independent is extremely healthy for North America and especially the U.S.. It is already having significant positive impacts on local economies such as the Bakken Plan in North Dakota where increased resource tax revenues are funding infrastructure improvements on both sides of the border," said Phil Symchych, president of Symco & Co., ( a Regina, Canada based consulting firm that helps mid-market companies and small businesses to maximize profits, valuation and owner’s wealth. "Resource revenues create annuities for the land owners, local governments and supporting businesses.

"However, resource revenues can be impacted by the price of commodities so local governments need to put some of these revenues into a piggy bank and not get hooked on spending. More importantly, energy independence can create long-term wealth when people and companies save and invest a portion of the cash flows," said Symchych.

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