Energy Today - February 23, 2011
Rayola Dougher
Posted February 23, 2011
BusinessTrends Blog: Oil Sands in Canada and the U.S. Petroleum Imports: While oil is priced in a global market, if concerned about the stability of where the U.S. gets its oil, then it should be very good news that our neighbor to the north is our number one source. The news gets better considering investments that TransCanada is looking to make in its Keystone pipeline. The Keystone pipeline reaches from Alberta, Canada, to Cushing, Oklahoma. The proposed next phase of the pipeline would extend to Port Arthur, Texas, on the Gulf Coast. According to various reports, the system's capacity would be boosted from 590,000 barrels of oil per day to 1.1 million. The American Petroleum Institute (API) noted: "TransCanada estimates that this project will create 13,000 organized labor jobs and hundreds of thousands of additional jobs... More than 342,000 new U.S. jobs are likely to be created between 2011 and 2015 because of Canadian oil sands development, according to a study by the Canadian Energy Research Institute." Investment, jobs and energy from a reliable friend - that's a win-win-win. It certainly would be a plus for U.S. entrepreneurs, small businesses and consumers who need affordable, reliable energy to run their enterprises and homes. US News and World Report: Obama's Tax Proposal Would Only Hurt American Energy Competitiveness: In an effort to ensure U.S. industries remain competitive in the global market, our tax system offers limited protections for American companies, including energy firms, from the perils of double taxation. Though many anti-oil activists (and their allies in the current administration) attempt to diminish these vital tools when it comes to our fossil fuel industry, the facts point to the contrary. Far from qualifying as selective or excessive government fiscal policy, many of the tax rules President Obama brands as "oil subsidies" are actually credits available to any U.S. manufacturer--from microprocessor producers like Intel to coffee roasters like Starbucks to conglomerates like GE. Notice, though, that the administration didn't bother to specifically go after any of those sectors in his State of the Union last month.
WTOP-FM: Changing your driving habits can save you money: Gas prices continue to climb across the country, but there are ways that you can save money on gas. The average price of unleaded regular was at $3.13 a gallon as last week ended. Driving less is always an option for saving money, but experts say that changing your driving habits can also have a big impact. "If you are driving around with golf clubs in your car right now, it's probably not a good idea," says John Felmy from the American Petroleum Institute. He says you could save as much as $714 a year simply by making some changes. Felmy says tuning your car regularly, keeping your tires properly inflated, driving slower and avoiding jack rabbit starts at traffic signals will help. He says you should also shop around for the best price and take advantage of some of the "loyalty" programs that are being run by gas stations and supermarkets.
Additional Resources:
Bloomberg: Pa. gov scales back drilling policy on public land
The Foundry: Judge to Obama Administration: Get Moving on Drilling Permits