Throughout my career in public service and advocacy, I have seen the rise and fall of many trends. While some did not have staying power, others have been transformative.
In Congress, my committee assignments were centered around fostering high-tech innovation that moved our nation forward. I served on the House Armed Services Committee that oversaw the progress of the U.S. Department of Defense’s Advanced Research Projects Agency Network in transmitting data between multiple computers and multiple networks, a project that became the internet. I chaired the House Committee on Science, Space and Technology’s Subcommittee on Research and Technology and authored the National Superconductivity and Competitiveness Act, leading the effort to spur development of higher-temperature superconducting materials that could revolutionize transportation, energy and technology. Back home, my congressional district included the town of Duncan, Oklahoma, where Halliburton developed technology that aided the shale revolution. I was also named “Legislator of the Year” by the Oklahoma Solar Energy Industries Association more than 30 years ago.
I have always been a strong advocate for research and development—and the kind of necessary funding that takes all of those technologies from a dream to reality and supports the many less-successful endeavors that pave the way for these breakthroughs. Robust research and development is necessary for a healthy and a prosperous economy.
We are living in the best moment of human history because of science, greater democratic movements and market-based economics. If you look at the data, almost every indicator of social progress in the world—life expectancy, home ownership, education levels, environmental protection, safety, technology, communications, unemployment, crime—has become more positive over the last five decades, and they keep improving.
This success has required a balance of strong fundamentals and incredible discoveries. In fact, they fuel each other. The early internet was largely built upon the foundation of an existing telecommunications infrastructure. The shale revolution would have been markedly different had there not been more than 2 million miles of pipelines already in place to deliver that abundance to homes and businesses safely and reliably. Our financial system benefits from both disruptive startups and established companies that have been providing essential services to millions of customers for generations.
In this issue of American Gas, we explore the financial atmosphere for investor-owned utilities. American Gas Association member companies are some of the oldest stocks traded. Every year, I get the opportunity to accompany the AGA chair to New York for a presentation to analysts and investors about the health of our member companies. Our message—delivered with great skill by the exceptional group of industry leaders that I have had the pleasure of serving with—is simple: Natural gas offers stability amid uncertainty, and today’s utilities continue to build on their decades of growth. We tell them that even though many natural gas utilities have paid dividends continuously for over 50 years, we are still looking to provide greater rewards to shareholders by delivering solutions for our customers and the millions of Americans who want to enjoy the benefits of natural gas.
I have championed these pragmatic solutions throughout my career, choosing civility and an honest debate about solutions as opposed to ideology. I don’t hear either political party focused on those aims today.
But I remain an optimist, and here is why: Americans want affordable energy that is consistent with their values and our national goals. AGA member companies will continue to deliver our product and search for new ways to add energy value while protecting our environment. The inventor of the next life-changing innovation is out there, and the United States of America remains the best place to turn those dreams into reality.
President and CEO