The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

oil-and-natural-gas-production  refining-and-distribution  economic-impacts 

Dean Foreman

Dean Foreman
Posted February 16, 2018

U.S. crude oil production scored a perfect “10” in January – make that 10.2, to be precise, as in 10.2 million barrels per day (mbd). That record production, combined with a new high for refinery throughput and 6.3 mbd of crude oil and refined product exports, narrowed the price difference between U.S. and international crude prices last month and underscored the global impact of U.S. energy. All of this data and more may be found in API’s Monthly Statistical Report for January

Read More

pennsylvania  pa-severance-tax  natural-gas  economic-impacts  jobs  consumers 

Mark Green

Mark Green
Posted August 9, 2017

Total up industry’s economic contributions to Pennsylvania – helping to support its schools, first-responders, local infrastructure and jobs, lots of them – and it’s a pretty fair amount. But not fair enough for some. Last month a narrow majority in Pennsylvania’s state Senate voted for a $600 million tax increase that would hit natural gas producers and natural gas and electric users while also hiking taxes on communications services – all of which could significantly impact Pennsylvania consumers.

Read More

economic-impacts  jobs  oil-and-natural-gas  new-york  south-carolina  maryland 

Mark Green

Mark Green
Posted August 2, 2017

Energy-producing states and non-producers – all state economies are positively impacted by an industry that accounted for 7.6 percent of U.S. GDP in 2015. Yet, the state-level story also is about the opportunity for growth so that industry’s economic benefits have even greater impact in certain parts of the country. 

Read More

jobs  oil-and-natural-gas  economic-impacts  gdp34 

Mark Green

Mark Green
Posted August 1, 2017

The United States leads the world in natural gas and oil production, thanks to vast energy reserves and advanced technologies, such as hydraulic fracturing and horizontal drilling, and also the work of natural gas, oil and refining sectors that supply Americans’ daily needs and increase our security while boosting the broader economy and advancing climate goals. This economic heft is clear in a new PwC study showing that the natural gas and oil industry supported 10.3 million U.S. jobs in 2015 – up 500,000 since 2011– while adding $1.3 trillion to the national economy or about 7.6 percent of U.S. GDP. Importantly, industry’s economic lift extends to all 50 states, PwC found, energy producers and non-producers.


Read More

100-days  air-pollution  air-quality  economic-impacts  job-growth  ozone-standards  regulations  wyoming 

Mark Green

Mark Green
Posted April 21, 2017

We’ve argued before that more restrictive ozone standards imposed by EPA in late 2015 were unnecessary, because ambient ozone levels were declining under the 2008 standards.

Read More

pipeline-safety  natural-gas  regulation  economic-impacts  infrastructure 

Mark Green

Mark Green
Posted July 7, 2016

We frequently post on the potential risk to U.S. energy production and the benefits the American energy revolution is generating for the economy and individual households from the administration’s regulatory push and government red tape (see herehere and here). There might not be a better current example of the potential regulatory impact on U.S. energy than new rules for natural gas transmission and gathering lines proposed by the Pipeline and Hazardous Materials Safety Administration (PHMSA).

Consider: According to a study by ICF International, measuring the impact of PHMSA’s proposals, for 2,200 small pipeline companies across the country the annual cost of complying with the new regulations would come close to what the companies earn from gathering line fees. That’s impact – impact on small businesses and impact on energy development associated with the work those companies do.

Read More

ozone  regulation  epa34  economic-impacts  air-quality 

Jack Gerard

Jack Gerard
Posted June 15, 2016

To comply with standards approaching or below naturally occurring levels of ozone, states could be required to restrict everything from manufacturing and energy development to infrastructure projects like roads and bridges. Even if job growth were strong, saddling states with unachievable requirements would be questionable policy at best. In an economy still struggling to add jobs, new ozone regulations that impact such a wide range of job creators – and promise little to no public health benefit – make no sense.

Read More

renewable-fuel-standard  rfs34  gasoline-prices  epa34  economic-impacts  e1534 

Mark Green

Mark Green
Posted May 27, 2016

When you head out for your Memorial Day drive, consider the current price of gasoline – the U.S. average retail price of $2.30 a gallon, which the U.S. Energy Information Administration (EIA) says is 47 cents lower than at the same time last year and the lowest average price just before a Memorial Day weekend since 2009. 

Now, let’s all thank the U.S. energy revolution, which is playing a big role in consumer benefits, like those seen at the pump. EIA notes that lower gasoline prices reflect lower crude oil prices. And the global crude market wouldn’t be where it is without higher U.S. crude production. 

Read More

renewable-fuel-standard  rfs34  ethanol  economic-impacts  consumers 

Mark Green

Mark Green
Posted February 23, 2016

When Congress and the president acted late last year to end the decades-old ban on domestic crude oil exports, Washington showed it could generate the consensus to update energy policy so it matches America’s new energy reality, a reality of abundance created by surging domestic oil production. The same kind of change is needed on the broken Renewable Fuel Standard (RFS).

We saw how the crude oil exports ban buckled under the weight of economic research and reason, both of which argued that allowing U.S. oil to reach global markets would be good for America and American consumers. In the case of the RFS, there’s a compelling opportunity to protect U.S. consumers from potential harm wrought by a bad public policy.

Step No. 1 is a scheduled hearing this week on the RFS by the Senate Environment and Public Works Committee. Witnesses include EPA and U.S. Energy Information Administration officials. Frank Macchiarola, API group director of downstream and industry operations, discussed the stakes in the RFS debate during a conference call with reporters. The main point: The RFS is mismatched for the new era of U.S. energy abundance.

Read More

crude-oil  taxes  economic-impacts  consumers  president-obama 

Mark Green

Mark Green
Posted February 16, 2016

The president’s $10 per barrel oil tax proposal has been out for about a week now, and the analysis from a number of experts – both in terms of politics and economics – could be boiled down to the social media acronym “smh,” which stands for “shaking my head.”

Political analysis first: “The president perennially proposes repealing the oil industry tax credits which Congress annually ignores,” Benjamin Salisbury at FBR Capital Markets toldBloomberg. “It seems overwhelmingly likely that this fee meets the same fate.” ClearView Energy Partners’ Kevin Book said there are “near-zero odds that the Republican-led Congress will grant the president’s request.”

Read More