Energy Ownership

BLACKS DO NOT OWN ENERGY RESOURCES OR INFRASTRUCTURE

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President’s Corner

By Norris McDonald

Blacks own virtually no energy resources or infrastructure in the United States. I think we all know the history of America that has led to this very sad and untenable reality. This situation must be corrected for ALL OF THE ABOVE energy resources. AAEA is committed to increasing African American ownership of energy resources and infrastructure.

Traditional environmentalists and environmental organizations will not support this position because they do not care that blacks do not own energy resources and infrastructure, particularly in a global warming world. Of course, they they have this position even as they use traditional fossil energy just about like everyone else in America.

There are plenty of opportunities for land ownership in future utility scale solar and wind projects. To the extent public lands are used by this sector, black ownership should be promoted for these development projects. Federal and state lands could be privatized to accomplish this goal. Such privatization could also include oil and gas lands and areas with other precious metals and natural resources.

Blacks should become owners of oil and natural gas pipelines that are needed to effectively and efficiently move these resources around the country, but particularly in the Northeast.

Blacks should becomes owners of railroad lines that ship coal and oil.

Blacks should become owners of nuclear power plants. There are opportunities in this sector due to the closure of plants. Nuclear power companies are selling plants to decommissioning buyers.

There are approximately 4,000 offshore oil wells in the Gulf of Mexico, none black owned. This should be rectified. America imports approximately 18 million barrels of oil each day, none blacked. Nor do blacks own the tankers that transport the oil to our country.

Blacks do not own one coal mine in the United States yet coal is used to generate approximately 33% of our electricity.

Because of hydraulic fracking and and horizontal drilling, America has become the Saudi Arabia of oil and natural gas. America will eventually export huge quantities of oil and gas (liquefied natural gas) to other countries. America is also the Saudi Arabia of coal and will eventually export it to the countries that want to buy it. Should blacks not participate in these business ventures?

We are as concerned as anyone about global warming, but the world runs on fossil fuels and will into the foreseeable future.

Norris McDonaldComment