Posted June 15, 2018
We’ve talked at length about the many benefits to opening up a small portion of the Arctic National Wildlife Refuge (ANWR) to natural gas and oil development. There can be little doubt about ANWR’s importance to the United States’ long-term energy security.
The point is underscored in a new report from the U.S. Energy Information Administration (EIA), analyzing the potential impact of natural gas and oil development in the coastal plain of ANWR. The results reiterate what we’ve been saying all along – ANWR’s energy potential is incredibly large, and is a key part of a long-term U.S. energy vision.
Posted September 15, 2017
Putting together three big takeaways from EIA's report, the ongoing U.S. renaissance in natural gas and oil production puts America in a strong position for the future, especially in the context of rising world energy demand. Continued growth in domestic natural gas and oil production offers the U.S. a chance to grow in its energy self-sufficiency.
Posted September 9, 2016
Looking back, the weight of scholarship and analysis had predicted that, rather than cause higher pump prices here at home as some claimed, exporting domestic crude would put downward pressure on U.S. gasoline prices. In fact, that’s what we’re seeing – abundant crude oil supply benefiting American consumers. U.S. crude exports are part of that market dynamic – while also helping to support domestic production and strengthening America’s balance of trade.
Posted August 8, 2016
The United States is the world’s leading producer of oil and natural gas – a fact that reflects energy production in so many of the individual states. At the same time, as an energy nation every single state is involved in the broad, economically beneficial energy supply chain. Over the next few weeks we’ll take a look at the 50 states of energy, including their energy use profiles and specific energy issues in each state. Today we start with – New Jersey.
Posted June 24, 2016
Let’s spend a few words supporting the work of the folks at the U.S. Energy Information Administration (EIA) – which compiles energy data and produces reports that depict America’s current energy picture, as well as projections on how that picture could look years from now. EIA’s analyses are valuable for policymakers, energy-associated industries, a range of business sectors and regular Americans.
Unfortunately, EIA is taking criticism from some quarters because its reports, such as the Annual Energy Outlook 2016, project that fossil fuels will continue to be the largest piece of the U.S. energy portfolio well into the future. A number of critics want EIA to issue projections that are more optimistic about the use of renewables. ...
While predicting things is tricky, it looks like EIA’s 2000 projection for 2015 turned out to be pretty accurate for petroleum/other liquids and renewables.
Posted October 27, 2015
Reports by Bloomberg and others say that White House and congressional budget negotiators would sell oil from the Strategic Petroleum Reserve (SPR) to partially pay for their new budget agreement. Sales would total 58 million barrels from 2018 to 2025, according to a draft House bill (see Section 403-a).
How much money would be raised from the sales would depend on prices at the time of the sales. But, if the goal is generating revenue for government to fund worthy projects, rather than a series of one-time sales, why not lift the ban on U.S. crude oil exports and create an annual revenue stream?
According to a study by ICF International (Page 86), ending the 1970s-era oil exports ban would lift the U.S. economy, create jobs – and generate significant additional revenue for government. A number of other studies mirror ICF’s findings on the economic benefits from lifting the export ban. We highlight ICF here because its estimate of additional oil production from lifting the ban (up 500,000 barrels per day) is almost identical to the output increase estimated by the U.S. Energy Information Administration (470,000 barrels per day). ICF:Federal, state, and local governments benefit from crude oil exports both in terms of the generation of GDP, which is then taxed at these levels, but also through royalties on federal lands where drilling takes place. Total government revenues, including U.S. federal, state, and local tax receipts attributable to GDP increases from expanding crude oil exports, could increase up to $13.5 billion in 2020.
Posted September 1, 2015
Some quick points from the new crude oil exports study from the U.S. Energy Information Administration (EIA):
First, like a series of other studies before it, EIA’s study finds that lifting America’s 1970s-era ban on exporting domestic crude oil would not negatively affect U.S. consumers. EIA says:
Petroleum product prices in the United States, including gasoline prices, would be either unchanged or slightly reduced by the removal of current restrictions on crude oil exports.
EIA projects that ending the export ban – which would allow shut-in domestic crude to access global crude oil markets – would spur more domestic production. Then the global supply/demand would become “looser,” putting downward pressure on global crude prices, resulting in “lower petroleum product prices for U.S. consumers.
Posted August 5, 2015
New government stats on falling carbon dioxide (CO2) emissions from electrical power generation point to a good-news story on energy and climate, one that should grab the attention of policymakers nationally and in the states. This is seen in data from the U.S. Energy Information Administration (EIA).
Plotting CO2 emissions from the electric power sector from 1988 to this April, EIA reports emissions hit their lowest point for any month in 27 years. This is largely because of increased use of natural gas in power generation – a market choice that’s based on the availability and affordability of natural gas, as well as the fact it is clean-burning.
Posted June 19, 2015
The issue was energy infrastructure – where the United States is and where things are headed. At the U.S. Energy Information Administration’s (EIA) annual conference this week, one discussion honed in on the challenges to infrastructure approval and construction – as well as government’s best role in developing projects that are key to U.S. energy transport and overall energy security. The latter produced some friction between speakers not often seen at conferences like EIA’s. More below.
The U.S. Energy Department’s Melanie Kenderdine talked about some of the details in the department’s recently issued Quadrennial Energy Review (QER), which focused on ways to modernize the nation’s infrastructure.
Posted June 4, 2015
CNBC – The U.S. Environmental Protection Agency said in a Thursday report that it found no evidence fracking has a “widespread” impact on drinking water.
The EPA report concluded that there are above and below ground mechanisms by which fracking have the potential to impact drinking water resources, but that the number of identified cases were “small” compared to the number of fracking wells.
“We did not find evidence that these mechanisms [of potentially affecting water] have led to widespread, systemic impacts on drinking water resources in the United States,” the report said.