Posted October 9, 2014
Getting a handle on the size of America’s petroleum reserves and their energy potential can be a brain-bender because of the different ways resources are defined and the different ways resource estimates are used.
Example: A Bloomberg piece this week suggests there’s something afoot when producers talk about a resource estimate that’s different from the one they’re required to report to the U.S. Securities and Exchange Commission (SEC), as part of the agency’s oversight of the investing sector. Not at all. Two different concepts, two separate uses
Posted April 8, 2014
On Monday, the U.S. Energy Information Administration (EIA) released a remarkable new projection showing that given certain conditions and with the right policies in place the United States could reach energy self-sufficiency within two decades. It’s the first time EIA has projected that net imports’ share of liquid fuels consumption could reach zero – basically, that domestic production would exceed imports. Key to EIA’s scenario: access to domestic reserves.
On Tuesday, new Bureau of Land Management data showed that if EIA’s projection is to be realized, a new approach to energy development on federal lands will be needed. BLM statistics show that leasing and permitting on federal lands in fiscal year 2013 both were down, hitting their lowest numbers in years. Also down: new wells drilled.
Posted July 19, 2011