The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

access  crude  crude-markets  domestic-energy  e1534  economic-benefits  emissions  energy-regulation  epa34  fracking  gasoline-prices  global-markets  horizontal-drilling  hydraulic-fracturing  methane-emissions  offshore-access  oil-and-natural-gas-development  ozone  regulation  renewable-fuel-standard 

Mark Green

Mark Green
Posted December 31, 2014

So long, 2014. From an energy standpoint, you’ll be missed. Let’s count the ways:

Surging domestic oil and natural gas production – largely thanks to safe hydraulic fracturing and horizontal drilling – is driving an American energy revolution that’s creating jobs here at home and greater security for the United States in the world.

It’s a revolution with macro-economic and geopolitical impacts, for sure. But it’s also a revolution that’s benefit virtually every American.

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domestic-oil-production  crude-markets  liquefied-natural-gas  lng34  energy-exports  keystone-xl-pipeline  hydraulic-fracturing  horizontal-drilling  fracking 

Mark Green

Mark Green
Posted December 31, 2014

Business Day: For years, Organisation of Petroleum Exporting Countries (OPEC) pulled the strings set the price of oil and controlled the supply. After dictating the course of oil prices for more than 50 years, OPEC is finding its influence diminished.

Right now, OPEC represents about 40 percent of global daily production. The organization still has a say in what the energy market looks like. But for OPEC, oil can no longer be used as either a weapon or as a lever. There is simply too much production arising beyond the control of OPEC.

For 2015, US will emerge as dominant player. OPEC member countries are gradually losing the largest energy market in the world and the irony is that they will soon be competing for the markets that used to be theirs for the taking. Projections from recent happenings reveal that in 2015 the US will start dictating to the market. With the advent in 2015 of large US exports of liquefied natural gas (LNG), the effect is even larger, and with it comes the hastening of OPEC’s decline.

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gasoline-prices  hydraulic-fracturing  fracking  horizontal-drilling  imports  oil-and-natural-gas-production  new-york 

Mark Green

Mark Green
Posted December 29, 2014

The Week: One of the biggest stories of 2014 has been the astonishing drop in global oil prices. The price of the benchmark Brent crude went from over $100 per barrel at the beginning of the year to the $60 range as of this writing.

It's worth noting how massive and completely unexpected this price drop has been.

And it's worth noting how good it is for the U.S. economy. The price of oil is one of the biggest drags on consumer demand, the largest driver of the economy.

And to what do we owe this miraculous event?

In a word: fracking.

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american-energy  economy  exports  crude-oil  imports  fracking 

Mary Leshper

Mary Schaper
Posted December 23, 2014

Dallas Business Journal: So far this year, the U.S. has imported 369.8 million barrels of crude oil, according to the Energy Information Administration. Sure, that sounds like a lot, especially in light of the shale boom renaissance that has swept the country. Until you look at the past few years. For the same period in 2010, the U.S. imported 456.1 million barrels of crude, according to the EIA. So, in four years, oil imports have declined 19 percent and will likely continue to decrease in future years.

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american-energy  global-energy  global-markets  economy  fracking  new-york  jobs  keystone-xl-pipeline  regulations 

Mary Leshper

Mary Schaper
Posted December 22, 2014

Wall Street Journal: In early October, Saudi Arabia’s representative to OPEC surprised attendees at a New York seminar by revealing his government was content to let global energy prices slide. Nasser al-Dossary ’s message broke from decades of Saudi orthodoxy that sought to keep prices high by limiting global oil production, said people familiar with the session. That set the stage for Saudi Arabia’s oil mandarins to send crude prices tumbling late last month after persuading other members of the Organization of the Petroleum Exporting Countries to keep production steady.

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fracking  hydraulic-fracturing  new-york  economy  jobs 

Mary Leshper

Mary Schaper
Posted December 19, 2014

Editorial pages and columnists weigh in on Gov. Andrew Cuomo’s decision to ban hydraulic fracturing in New York:

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new-york  new-york-shale-gas  hydraulic-fracturing  horizontal-drilling  fracking  safe-operations  economic-benefits  pennsylvania 

Mark Green

Mark Green
Posted December 18, 2014

Some interesting perspective on New York’s decision to ban hydraulic fracturing – from neighboring Pennsylvania, where safe fracking has lifted the state economy while directly benefiting cities and towns all across the commonwealth.

Jeffrey Sheridan, press secretary for Governor-elect Tom Wolf’s transition team (to the Philadelphia Business Journal):

“Governor-elect Wolf opposes a ban, and he will work hard to make sure the process is safe. … Pennsylvania's natural resources should help the commonwealth become an energy leader, including renewable energy and energy efficiency, as well as a magnet for investment and job creation. Governor-elect Wolf's priority is to ensure that Pennsylvania is an energy leader with all Pennsylvanians sharing in the prosperity.”

Pennsylvanians are indeed sharing in prosperity that’s being generated by shale energy development, via responsible hydraulic fracturing and horizontal drilling: More than $2.1 billion in state and local taxes paid by industry, more than $630 million distributed to communities since 2012 – including more than $224 million in 2014. Plus billions in royalties paid by operators to private landowners.

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fracking  economy  jobs  environment  new-york  new-york-moratorium 

Mary Leshper

Mary Schaper
Posted December 18, 2014

Yesterday, New York Gov. Cuomo’s administration issued a statewide ban on fracking, a move that denies New Yorkers – especially landowners in the Southern Tier –benefits associated with the drilling method that’s driving America’s energy revolution.

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new-york  natural-gas-development  hydraulic-fracturing  horizontal-drilling  safe-operations  fracking  economic-benefits  pennsylvania 

Mark Green

Mark Green
Posted December 17, 2014

Here’s what you need to know about the Cuomo administration’s decision to ban hydraulic fracturing in New York: After more than six years of a state moratorium on natural gas development using fracking, after two years of reviewing the fracking research of others, after seeing safe fracking work in more than 30 states – including neighboring Pennsylvania, where fracking is generating billions in tax revenues, allowing the distribution of hundreds of millions of dollars to communities, as well as billions in royalty payments to private landowners – Gov. Andrew Cuomo and his team took the path that’s 180 degrees in the wrong direction for New York.

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economy  jobs  american-energy  fracking  lng-exports  exports 

Mary Leshper

Mary Schaper
Posted December 16, 2014

EIA Today in Energy: The average U.S. household is expected to spend about $550 less on gasoline in 2015 compared with 2014, as annual motor fuel expenditures are on track to fall to their lowest level in 11 years. Lower fuel expenditures are attributable to a combination of falling retail gasoline prices and more fuel-efficient cars and trucks that reduce the number of gallons used to travel a given distance. Household gasoline costs are forecast to average $1,962 next year, assuming that EIA's price forecast, which is highly uncertain, is realized. Should the forecast be realized, motor fuel expenditures (gasoline and motor oil) in 2015 would be below $2,000 for the first time since 2009, according to EIA's December 2014 Short-Term Energy Outlook(STEO).

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