Posted February 13, 2015
Posted February 9, 2015
In oil towns like Williston and Watford City, massive amounts of infrastructure have been built in just the last three years. Here's a look at some of the bigger projects:
People: Populations in once-small towns soared as people from around the country (and the world) migrated to the area for jobs. Williston Mayor Howard Klug says that the city of under 15,000 in the 2010 census now has a "serviceable population of 60,000 to 70,000."
Posted January 28, 2015
Posted December 10, 2014
Reuters: A surge of oil and gas production will drive the U.S. economy 1 percent higher in 2040 than it would have otherwise grown, and energy exports will only stoke the expansion, an independent study on energy policy concluded on Tuesday.
New drilling technologies such as 'fracking' have unlocked an abundance of fossil fuels from shale deposits and the bounty will both jolt the economy and increase tax receipts, according to the study from the Congressional Budget Office.
Officials estimate "real (inflation-adjusted) GDP product will be about two-thirds of 1 percent higher in 2020 and about 1 percent higher in 2040 than it would have been without the development of shale resources," the report finds.
Posted November 19, 2014
Tapping the energy resources off America’s coasts could improve our economy, our energy security and create thousands of jobs. Two new studies highlight the remarkable boost to job creation, U.S. energy security, domestic investment, and revenue to the government that lies within the Pacific Outer Continental Shelf (OCS) and the Eastern Gulf of Mexico.
API’s Group Director Erik Milito and the National Ocean Industries Association’s Randall Luthi outlined the studies for reporters during a conference call today. Milito:
“The oil and natural gas industry is a rare bright spot in our economy, and the ability to safely develop new offshore resources is critical to America’s continued energy security and job growth.”
Posted October 1, 2014
The Washington Post: Is a four-year college degree worth it? Generally yes, but the results vary quite a bit across majors — and can even vary widely within majors.
That’s the takeaway from new research by Brad Hershbein and Melissa Kearney at The Hamilton Project. The authors analyzed Census Bureau data to find out which college majors earned the most and the least. Topping the list are the engineering fields, to no one’s surprise. Some of the least-earning majors are related to education, theater and art. Over a lifetime, the median expected earnings for a drama or theater arts major is lower than that of someone with a two-year associate’s degree.
But the report found that regardless of major, “median earnings of bachelor’s degree graduates are higher than median earnings of high school graduates for all 80 majors studied. This is true at career entry, mid-career and end of career,” the authors write.
Posted June 12, 2014
Bloomberg News: U.S. fuel imports fell to a 15-year seasonal low as refineries processed increasing domestic crude output, moving the nation closer to energy independence.
Deliveries slid 653,000 barrels a day to 1.68 million in the week ended June 6, the fewest for the period since 1999, the Energy Information Administration data showed today. The 28 percent drop was the biggest decline since the week ended June 18, 2013. Fuel imports peaked at 4.97 million barrels a day in October 2005.
“There’s a change in the dynamic,” said Phil Flynn, a senior market analyst at Price Futures Group in Chicago. “We’re not going to stop importing products but the overall number should move lower. We’re turning into a hub where products are both imported and exported based on price.”
Shipments to the U.S. from abroad have dropped as the shale boom provided refiners with an ample supply of cheaper domestic crude to make fuel. West Texas Intermediate, the U.S. benchmark crude, has traded at an average discount of $12 to Brent oil from the North Sea over the past four years. WTI traded at an average premium of more than $1 to the European grade from 1988 to 2008.
Posted February 11, 2014
Posted January 2, 2014
Basically, population is growing faster in the South and West than anywhere else in the country – and North Dakota’s 3.1 percent growth rate leads the nation. The second largest percentage increase was Utah’s 1.6 percent. The Post:
The annual estimates of state population on July 1 shows the South added more than 1.1 million residents between 2012 and 2013, while Western states added almost 728,000 residents over the past year. Northeastern states added 171,000 residents, while the Midwest added another 226,000 people. Many of those new Midwestern residents landed in North Dakota, which added 22,000 residents over the past year. That was a 3.1 percent population increase, the highest of any state in the country, fueled by an energy boom in the Bakken oil fields that has pushed the state’s unemployment rate down to 2.6 percent.
Posted April 12, 2013
There is an old legal saying: “If you have the law, hammer the law. If you have the facts, hammer the facts. If you have neither the law nor the facts, hammer the table.” This came to mind the other day while reading the Center for American Progress’ (CAP) response to the latest White House proposal to raise taxes on oil and natural gas companies.
**Spoiler Alert **
They like the idea – but CAP's post is a lot of table hammering, and the table is the oil and natural gas industry. Let’s de- demagogue this with a look at the facts.