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.
Posted February 1, 2018
– the most in half a century. Three big takeaways: America is stronger and our future is more secure; our industry's technologies are building a better future; and U.S. energy is in it for the long haul.
Posted May 23, 2016
New figures from the U.S. Energy Information Administration show the United States remained the world’s No. 1 producer of oil and natural gas in 2015, a position the U.S. has held since 2012.
Several important points here, supporting the idea that U.S. world energy leadership is a big thing.
First, U.S. production of oil and natural gas grew last year despite continued low prices for crude last year. U.S. output of petroleum and other liquid fuels grew from 14.08 million barrels per day in 2014 to 15.04 million barrels per day in 2015. According to EIA, natural gas production rose from 74.89 billion cubic feet per day (bcf/d) in 2014 to 78.94 bcf/d in 2015, or about 13.99 million barrels of oil equivalent per day.
The second point is the vast majority of U.S. energy production is the result of safe and responsible hydraulic fracturing and modern horizontal drilling – fracking.
Posted May 17, 2016
The United States in 2040 will be more energy self-sufficient, a net energy exporter and a lower source of energy-related carbon emissions as clean-burning natural gas becomes the dominant fuel for generating electricity. The leading energy source 24 years into the future – as they are now – will be oil and natural gas.
So projects the U.S. Energy Information Administration (EIA) in an early look at select data from EIA’s Annual Energy Outlook 2016 report that’s scheduled for full release in July.
The main takeaway from EIA’s “sneak preview” is the importance of the U.S. energy revolution – primarily oil and natural gas developed from shale and other tight-rock formations using safe hydraulic fracturing and modern horizontal drilling. The United States is stronger now and will be in the future thanks to domestic energy from fracking.
Posted April 21, 2016
U.S. Senate passage of energy legislation is an important step forward in the effort to sustain and grow a U.S. energy revolution that’s making America more energy secure, benefiting consumers and helping the environment.
For the first time since the energy renaissance materialized, both houses of Congress have passed bipartisan, comprehensive energy-assisting legislation. The initiatives signal a commitment to matching energy policy with the new U.S. energy reality, one in which the United States is the world’s leading producer of oil and natural gas. They also suggest lawmakers recognize that, on a bipartisan basis, voting Americans support more domestic energy development – as well as candidates who do the same.
Louis Finkel, API executive vice president, talked about the advancing legislation and the opportunities that are being provided by American energy during a conference call with reporters.
Posted April 19, 2016
Some important context before a discussion of a flawed emissions report from EPA, which follows below.
The United States is the world’s No. 1 producer of oil and natural gas – largely thanks to safe and responsible hydraulic fracturing and advanced horizontal drilling. Natural gas production reached a record high level of 79 billion cubic feet per day in 2015, according to the U.S. Energy Information Administration (chart), while total U.S. energy output increased for the sixth consecutive year.
The increased natural gas production and use is critically important, as it is the key factor in reduced carbon emissions during a period of U.S. economic expansion – a break with historic precedent noted by the New York Times. Indeed, the United States is leading the world in carbon emissions reductions, largely thanks to its energy revolution.
Posted April 14, 2016
Take a look at details of API’s energy policy recommendations to the two political parties from this week’s Vote4Energy event. They include access to oil and natural gas resources and an approach to oversight that fosters the goal of safe and responsible energy development.
Access is critically important, especially when you’re talking about developing offshore oil and natural gas reserves. Today, 87 percent of offshore acreage under federal control remains off limits to energy development.
Posted April 13, 2016
There’s a candidate in the 2016 campaign that’s a true unifier, a candidate reflecting the views of an overwhelming number of Americans and one that’s capable of being a sturdy bridge between Washington’s partisan interests:
As the 2016 general election campaign season approaches, API this week unveiled its energy policy recommendations for the platform-writing committees of the Democratic and Republican parties. More on these below.
First, let’s focus on the United States’ current energy reality and the once-in-a-generation opportunity the U.S. energy revolution is providing for security and prosperity, which API President and CEO Jack Gerard described as the context for industry’s platform report during a briefing and discussion event in Washington.
Posted March 30, 2016
Methane emissions have dropped significantly. Since 2005, emissions from field production of natural gas have dropped 38 percent, and emissions from hydraulically fractured natural gas wells have plunged 79 percent.
These facts bear repeating in light of the Obama administration’s announcement that it is pursuing yet another set of methane regulations. Not only are the additional regulations duplicative and unnecessary, given industry’s success in reducing emissions under current regulations, but the new rules could actually undermine progress.
Posted March 29, 2016
A quick list of some of the benefits realized by the United States thanks to modern hydraulic fracturing and advanced horizontal drilling:
Surging oil and natural gas production
The United States is the world’s leading producer of oil and natural gas, resulting in lower oil imports and an opportunity for the U.S. to compete with other producers in the global market.
According to the U.S. Energy Information Administration, oil production from safely fractured wells totaled more than 4.3 million barrels per day in 2015, about half of all U.S. oil output.