Posted April 28, 2014
Posted April 18, 2014
While Maryland isn’t among the country’s leading producers of oil and natural gas, the industry’s employment and economic impact in the state is significant. That impact, as measured by a PwC study:
- 75,400 jobs supported in 2011 (most recent year for which comprehensive data is available), accounting for 2.2 percent of the state’s total employment.
- Nearly 18,000 direct oil and natural gas industry jobs
Posted April 10, 2014
Posted April 10, 2014
Legislation that would accelerate U.S. exports of liquefied natural gas (LNG) – by approving a backlog of more than 20 export permits pending with the Energy Department and expediting future permit requests for export to World Trade Organization members – cleared an important hurdle in the U.S. House this week.
“In the last few weeks, new proposals have won bipartisan support in both the House and Senate, and we are optimistic that members will come together on efforts to harness the full economic and strategic power of America’s energy exports. The U.S. is the world’s top producer of natural gas, and allies around the globe are looking to America for leadership on energy issues. Now is the time to tear down our own bureaucratic hurdles to trade, create thousands of new American jobs, and strengthen our position as an energy superpower.”
Posted April 4, 2014
Opponents of Natural Gas Exports Have It All Wrong
WSJ MarketWatch (Furchtgott-Roth): Americans opposed to the export of U.S. natural gas give many reasons for their position. But almost all of them are wrong.
The problem is that people underestimate the amount of this country’s natural gas and the potential effect exports could have on the world market.
Russia has swallowed parts of Georgia and Ukraine. No one is proposing that America send soldiers to defend those countries, even though we guaranteed Ukraine’s sovereignty in 1994 under the Budapest Memorandum. Instead, we can help our allies by diminishing Russia’s economic power over them. And that power rests on oil and gas.
Posted April 1, 2014
With Europe’s dependence on Russian gas impeding diplomatic efforts, it’s time to reconsider outdated policies that are keeping the U.S. from becoming an energy exporter.
U.S. lawmakers don’t drive around in 1970s-era cars, yet they don’t seem to mind energy policies that are equally out of date. Attempts to export shale oil and gas, for example, have run smack into legal and regulatory barriers as old as a Gran Torino.
Energy companies have been urging Congress to lift the lid on exports and start treating oil and gas again like any other commodity that’s freely traded in world markets. Tapping global demand for U.S. shale oil and gas, they say, will spur domestic production and create even more jobs in a sector that’s already racked up robust employment gains.
Posted March 28, 2014
The bureau's Economic Census Advance Report, released Wednesday, provides the first comprehensive look at the U.S. economy since the Great Recession, supplying data on a series of key metrics across more than 1,000 industries. The report comes out every five years.
Posted March 26, 2014
Study Projects Major Job Losses From Banning Fracking in Colorado
Denver Business Journal: Fracking draws the ire of environmental activists, many of whom envision a world without the controversial process.
But economists from the University of Colorado (CU) predict job losses of 93,000, and $12 billion in lost gross domestic product (GDP), if proposed bans on hydraulic fracturing in Colorado become law, according to a study released Wednesday.
In just the first five years of a ban on fracking, the loss in GDP would be $8 billion and 68,000 fewer jobs, according to the study.
Posted March 25, 2014
Because Lithuania has a front-row seat to the current Ukraine-Russia crisis, the appearance of the country’s energy minister at a Senate hearing on U.S. liquefied natural gas (LNG) exports was especially timely. Jaroslav Neverovič had a pretty simple message to the United States: We need U.S. natural gas.
Neverovič probably was the most anticipated of the witnesses at the Energy and Natural Resources Committee’s hearing, the first led by Sen. Mary Landrieu, the panel’s new chairman. Neverovič:
“At present, we are completely – 100 percent – dependent upon single supplier of natural gas and, as a result, are forced to pay a political price for this vital energy resource. Lithuanian families and businesses pay 30 percent more for natural gas than citizens in other European countries. This is not just unfair. This is abuse of monopolist position.”
The minister said while Lithuania is taking steps to achieve energy independence, it needs help.
Posted March 25, 2014
U.S. to Become Top LNG Exporter, Experts Say
Fuel Fix.com: HOUSTON — The U.S. is poised to become the top exporter of liquefied petroleum gas — more commonly known as propane or butane — within just a few years, officials with research analyst IHS said Monday.
By the 2020s, the U.S. likely will displace top LPG exporters including Qatar and the United Arab Emirates, said IHS Senior Director Walt Hart, during the IHS International LPG Seminar in Houston. The domestic supply of propane and butane is on the rise, produced along with the booming output of U.S. shale gas. But the domestic market for propane and butane is relatively flat, several experts said.
That’s not the case abroad. While most U.S. LPG exports go to Latin America today, a growing portion likely will go to Asia as demand there rises, in part due to its use as a fuel source for heating and cooking but also because of its role as a feedstock for the manufacture of petrochemicals.