We start with the “S” in ESG.
We produce oil and natural gas, and we believe nothing is more essential to modern life. By any measure of societal good, the energy we produce has enormous benefit. From enhancing our nation’s economic and national security to providing the fuels that power our everyday life, Continental Resources is committed to making affordable energy accessible to all.
“We all inhabit this small planet. We all breathe the same air. We all cherish our children’s future. And we are all mortal.”
— President John F. Kennedy
Kennedy’s words were spoken more than 60 years ago, but they remain true. In the 1960s, America’s population was 180 million people, today it’s over 330 million. In the 1960s, the world had 3 billion souls; today it’s estimated to be nearly 8 billion. Energy consumption has increased as dramatically, (275%+) as more and more people across the globe aspire to a modern lifestyle.
Currently, the products we produce fuel 85% of the world’s energy demand. Hydrocarbons have lifted billions out of poverty. In short, no technology and no energy source has had a more dramatic impact or done more good for our society and our way of life.
The food we eat, the way we heat and cool our homes, the clothes we wear, the medicines that keep us healthy, the electricity grids, the transportation networks – virtually everything we rely on to power modern life is dependent on hydrocarbons.
We recognize we are in a time of energy transition. We have been in the past and will be in the future. Energy demands increase and we must find ways to meet this increase while being stewards of our environment. We also recognize the beneficial needs for hydrocarbons isn’t going to go away anytime soon.
American energy is a job creator, an economic catalyst, and a huge contributor of tax revenue to local, state, and federal governments. The industry is a generous contributor to the common good, funding charities and community organizations across the country. For example, our founder has given over $65 million to cure diabetes with an additional focus to make insulin affordable.
Recently, President Joe Biden addressed congress, saying only 15% of the world’s greenhouse gas emissions are coming from the United States and that we can’t address the challenge alone.
We agree. There are two billion people living in energy poverty, burning wood and dung to meet basic needs. What if American natural gas was the answer? What if American energy helped wean the developing world off solid fuel consumption and coal-fire electricity generation? The impact would be tremendous. The United States is already leading the industrialized world in reducing emissions thanks in large part of the use of clean burning, energy dense natural gas. In countries with the lowest access to oil and gas for energy, both poverty and death rates attributable to air pollution are highest. Hydrocarbons produced responsibly save lives.
America’s energy independence has also had a profound effect on geopolitics. We are no longer dependent on unreliable and unfriendly regimes for our energy.
Horizontal drilling has unlocked vast reserves of American energy, resulting in a trillion-dollar swing annually to the benefit our economy. Our national and economic security has been enhanced. One result was, in 2020, the United States helped broker the Abraham Accords – a series of agreements that turned adversaries into allies. Israel found new consensus with its neighbors including United Arab Emirates, Bahrain, Sudan and Morocco. These newly formed alliances have the potential to stabilize the Middle East, and lead to increased trade, investment, and shared security.
Society is better because of what we do and how we do it. We believe we will continue to play an essential and responsible role in securing America’s future for decades to come.
