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news  energy-exports  fracking  oil-and-natural-gas-development  russia  regulation  saudi-arabia 

Mark Green

Mark Green
Posted July 7, 2015

Roll Call (Reps. Joe L. Barton and Henry Cuellar)The advantages of lifting the ban on crude oil exports are not just theoretical talking points discussed in the halls of Congress, but rather supported by a large and growing body of research by government agencies, academic institutions and think tanks across the political spectrum. The latest is a study released by the Harvard Business School and the Boston Consulting Group. It highlights the obvious benefits lifting the ban will have on American families and businesses, our economy and global allies.

The study discusses the changing U.S. energy landscape and the opportunities made possible by America’s new energy abundance. The fear of a crippling dependence on foreign oil that existed in the 1970s, when the export ban was put in place, is no longer applicable today. In fact, the U.S. is now the world’s top petroleum producer largely due to our recent ability to produce oil and natural gas from shale formations. The world has changed drastically in the past 40 years and it is time for our policies to accurately reflect the current conditions in which we now live. We must embrace the United States’ new leading role on the world energy stage and recognize the value it would create in our everyday lives.

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cera  exports  global-oil  shale-energy  oil-and-gas-industry  saudi-arabia 

Mark Green

Mark Green
Posted April 21, 2015

IHS CERAWeek, one of the world’s top energy conferences, is going on in Houston this week. Some news from Day 1

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energy-exports  crude-oil-production  global-markets  trade  eia34  russia  saudi-arabia  shale-energy  economic-benefits 

Mark Green

Mark Green
Posted April 7, 2015

Following on yesterday’s post on increased domestic energy production that is backing out imports, we see that the U.S. remained No. 1 in the world in the production of petroleum and natural gas hydrocarbons last year, according to the U.S. Energy Information Administration (EIA).

The government agency responsible for quantifying all things energy says that U.S. oil and natural gas production has been trending higher than the output of Russia and Saudi Arabia, the second- and third-largest producers:

Since 2008, U.S. petroleum production has increased by more than 11 quadrillion British thermal units (Btu), with dramatic growth in Texas and North Dakota. Despite the 50% decline in crude oil prices that occurred in the second half of last year, U.S. petroleum production still increased by 3 quadrillion Btu (1.6 million barrels per day) in 2014. Natural gas production—largely from the eastern United States—increased by 5 quadrillion Btu (13.9 billion cubic feet per day) over the past five years. Combined hydrocarbon output in Russia increased by 3 quadrillion Btu and in Saudi Arabia by 4 quadrillion Btu over the past five years.

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us-crude-oil-production  global-markets  shale-energy  hydraulic-fracturing  horizontal-drilling  saudi-arabia  exxonmobil  epa-regulation  pipelines  utica-shale 

Mark Green

Mark Green
Posted December 4, 2014

National Journal: World oil producers have put oil prices into a free fall, refusing to pare back global supplies in the hopes that low prices will derail the fracking-backed production boom in the U.S. and preserve OPEC's power over world energy markets.

But global analysts are skeptical that the move will work.

The basic reason: Prices remain high enough to keep pumping. "Looking out there, it seems like there's a huge amount of oil that can be produced at $60, $70 per barrel," said Michael Lynch, president of consulting firm Strategic Energy and Economic Research, referring to the prices for Brent crude oil, a global reference point.

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domestic-energy  economic-growth  energy-policy  gasoline-prices  gdp34  oil-and-natural-gas-industry  prices  state-of-american-energy  taxes  brazil  saudi-arabia 

Jack Gerard

Jack Gerard
Posted May 3, 2011

Editors Note: Today API President and CEO Jack Gerard gave an update on the State of American Energy, outlining a path to success for lower gasoline prices, increased energy security and more American jobs.

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