Joseph R. Mathewson Reflects on Revealing International Energy Agency Forecasts, Potential Impact on America's Industry Revolution

PHILADELPHIA, PA, June 17, 2013

Joseph R. Mathewson, a noted professional in the oil and gas field, has recently released a statement to the press in response to an article published by The New York Times that highlights recent trends in the energy industry and the way in which they are expected to change the future of the field.

The article explains: "The numbers tell the story: U.S. oil production has reversed its 30-plus year decline; U.S. imports from OPEC producers have fallen more than 20 percent in the past three years; U.S. natural gas reserves and production are up significantly and prices have dropped 75 percent in the past five years. The International Energy Agency forecasts that the United States could become the world's largest oil producer by 2020 and may be energy self-sufficient by 2035. That's a game changer." The article goes on to assert that this degree of growth regarding domestic energy development could result in the creation of a significant amount of jobs--as well as overall economic expansion.

"Since the 1970s, it has been the stated goal of the United States to achieve 'energy independence' and freedom from Middle East oil and OPEC," comments Joseph R. Mathewson. "In fact, the U.S. Department of Energy was created to accomplish this strategic objective. Today, the United States is rapidly achieving this goal through the use of newly developed technologies and the innovation and expertise of America's Oil Men to find and develop oil reserves. This will have a growing impact on the world market by creating less and less demand for imported oil by the United States. Because oil is universally traded in dollars, U.S. independence from foreign oil will also have a major impact on the balance of trade and the price of oil within the country. The United States has long used its trading advantage of 'oil for dollars' to help export our national debt and create a demand for our currency. While this will still be important, with the United States quickly becoming an oil exporting country instead of an importer, it is easy to see that this shift will have its own unintended consequences on both the U.S. economy and the value of the dollar."

The concerns regarding the United States' energy use have long held the attention of policymakers, oil and gas professionals, and even the general public. With these trends in place, Mathewson believes that the United States is rapidly moving forward, in spite of government over-regulation, to become a leading producer of energy to the world in spite of the ever increasing regulations and the restrictions being placed on the industry and its new technologies. Joseph R. Mathewson encourages energy professionals to keep up their efforts to find and produce new sources of oil and natural gas to finally achieve the goal of "energy independence", the long sought after goal.

ABOUT:

Joseph R. Mathewson has over 40 years of experience in several fields, including oil and gas engineering, environmental permitting, heavy and marine construction, and hazardous waste remediation. Mr. Mathewson is also a certified hazardous materials manager and a registered environmental assessor. Mr. Mathewson is the vice president of operations at Diversified Project Services International, where he manages a team of talented mechanical and civil engineers and professional construction managers. During his long career, he has managed complex oil & gas infrastructure, pipeline and offshore platform projects. Additionally, Mr. Mathewson has managed Superfund environmental remediation initiatives and major infrastructure construction programs across the nation for many high profile clients, including the Department of Defense, the U.S. Air Force, the U.S. Army Corps of Engineers, the U.S. Navy, and the U.S. Environmental Protection Agency.