{"id":32595,"date":"2023-10-12T16:18:15","date_gmt":"2023-10-12T21:18:15","guid":{"rendered":"https:\/\/blogs.und.edu\/und-today\/?p=32595"},"modified":"2023-10-12T17:40:31","modified_gmt":"2023-10-12T22:40:31","slug":"game-changer-harold-hamm-talks-future-of-energy-policy","status":"publish","type":"post","link":"https:\/\/blogs.und.edu\/und-today\/2023\/10\/game-changer-harold-hamm-talks-future-of-energy-policy\/","title":{"rendered":"\u2018Game Changer\u2019: Harold Hamm talks future of energy policy"},"content":{"rendered":"

Energy policy must strike balance between environmental, national security concerns, UND donor and energy magnate says<\/strong><\/p>\n

\"Andrew
UND President Andrew Armacost (left) and Harold Hamm discuss energy policy at UND’s Memorial Union. Photo by Joe Banish\/UND Today.<\/figcaption><\/figure>\n

Energy magnate<\/span> Harold Hamm visited <\/span>UND<\/span> last week to outline his vision <\/span>for the future of America\u2019s energy policy \u2014 a policy he has played a significant role in shaping through his company’s innovative approach.<\/span><\/span><\/p>\n

Hamm was joined onstage at the Memorial Union’s Social Stairs by UND President Andrew Armacost<\/strong><\/a> for a question-and-answer session, after which Hamm greeted attendees and signed copies of his book, \u201cGame Changer: Our 50 Year Mission to Secure America\u2019s Energy Independence.\u201d<\/span>\u00a0<\/span><\/p>\n

Hamm founded Oklahoma City-based Continental Resources as a 21-year-old in 1967. The company was a pioneer in using horizontal drilling to increase oil output from the Bakken Formation, which led to its growth as the largest producer of oil in both Oklahoma and North Dakota.<\/span>\u00a0<\/span><\/p>\n

In 2012, Hamm and Continental donated $10 million to UND, a gift that helped establish the Harold Hamm School of Geology and Geological Engineering<\/strong><\/a>.<\/span><\/p>\n

Hamm said the title of his book reflects the transformative power of horizontal drilling and hydraulic fracturing or fracking, for oil and natural gas extraction, respectively.<\/span><\/p>\n

\u201cWithin two decades, it really transformed the entire industry,\u201d he said. \u201cWe went from what everybody considered terminal decline of our production in the U.S. and having to import from the Middle East or Canada. Since that point, U.S. production has tripled to about 13 million barrels a day.”<\/span><\/p>\n

With regards to fracking, Hamm said the process has allowed the U.S. to quadruple its output of natural gas, turning the nation into the world\u2019s largest exporter of liquified natural gas (LNG). According to Statista, a German data collection firm, the U.S. exported 104.3 billion cubic meters of LNG in 2022.\u00a0<\/span>\u00a0<\/span><\/p>\n

Hamm added that since Russia\u2019s invasion of Ukraine, European allies have turned to the U.S. for LNG in the face of decreasing supply and the rising price of exports from Russia, the country that historically has had a monopoly on supplying the continent.<\/span>\u00a0<\/span><\/p>\n

\u201cOne shipment of LNG will heat a million homes for a month,\u201d he said.<\/span>\u00a0<\/span><\/p>\n

Hamm said that Continental\u2019s strategy is driven by a \u201cculture of possible,\u201d the belief that anything worth doing is achievable through hard work, taking calculated risks and perseverance.<\/span>\u00a0<\/span><\/p>\n

\u201cI\u2019ve never been risk averse \u2013 you don\u2019t get anywhere doing that,\u201d he said. \u201cSomebody once told me \u2018The edge of the limb is where the fruit lies.\u2019\u201d<\/span>\u00a0<\/span><\/p>\n

\"Attendees\"
Attendees gather at the Memorial Union’s Social Stairs for a question and answer session featuring UND President Andrew Armacost and Harold Hamm. Photo by Joe Banish\/UND Today.<\/figcaption><\/figure>\n

Addressing the push to transition to more renewable sources of energy, Hamm said it is important to strike a balance between developing these resources and preserving America’s national security interests.<\/span>\u00a0<\/span><\/p>\n

Hamm specifically cited coal as a diverse resource, including the potential to extract rare earth elements from lignite coal, which are vital for the manufacturing of many consumer electronics.<\/span>\u00a0<\/span><\/p>\n

\u201cWe\u2019re going to need those elements, because unfortunately, China owns about 85% of them,\u201d he said. \u201cYou also need the reliability of coal for power generation, but you don\u2019t need 100% use of coal.<\/span>\u00a0<\/span><\/p>\n

Hamm encouraged students in the audience to pursue a vocation that they are passionate about, advice he says led him to his career in the geological sciences.<\/span>\u00a0<\/span><\/p>\n

\u201cI grew up on a farm and loved nature \u2013 all of the great things like mountains and seas,\u201d he said. \u201cYou\u2019ll do much better at the things that you\u2019re naturally talented at \u2013 you’ll never work a day in your life.<\/span>\u00a0<\/span><\/p>\n

Hamm also stressed the importance of operating under a core set of values, which he said were instilled in him through his family-oriented upbringing in rural Oklahoma.<\/span>\u00a0<\/span><\/p>\n

\u201cSome people say I\u2019m kind of lucky being the last of 13 kids \u2013 they could have quit at 12,\u201d he joked. \u201cI grew up in a God-fearing family. My parents taught us right from wrong early on. Work ethic was a big thing \u2013 we all worked as a family unit. You have to have values that you build your life around, or you don\u2019t get anywhere.\u201d<\/span>\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Energy policy must strike balance between environmental, national security concerns, UND donor and energy magnate says<\/p>\n","protected":false},"author":26,"featured_media":32597,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[1121,19,1127],"class_list":["post-32595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-und","tag-armacost","tag-engineering","tag-discovery"],"acf":[],"yoast_head":"\n\u2018Game Changer\u2019: Harold Hamm talks future of energy policy - UND Today<\/title>\n<meta name=\"description\" content=\"Harold Hamm, pioneer of horizontal drilling and hydraulic fracturing, talked about energy policy and careers with students and others at UND.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.und.edu\/und-today\/2023\/10\/game-changer-harold-hamm-talks-future-of-energy-policy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Game Changer\u2019: Harold Hamm talks future of energy policy - 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