Posted January 30, 2013
Two pieces of new polling info linked to the Keystone XL pipeline.
First, Rasmussen reports that the project, after more than four years on the Obama administration’s “to do” list, enjoys support from 59 percent of those surveyed. Just 28 percent oppose. Strong supporters (34 percent) outnumber strong opponents (10 percent) by more than three to one. There’s been strong support for the Keystone XL in polls by Fox News and Pew Research.
Speaking of Pew, last week they released another of their periodic surveys showing the issues Americans think are most important as President Obama and Congress get to work this year. Topping the list is strengthening the economy (86 percent say it’s a “top priority”), followed by improving the job situation (79 percent) and reducing the budget deficit (72 percent). What’s this got to with the Keystone XL pipeline?
Posted January 22, 2013
More video interviews from the recent State of American Energy event in Washington, D.C. In this clip Devon’s Richard Sawaya and Paula Jackson, interim president and CEO of the American Association of Blacks in Energy, talk about energy development under pro-growth policies as a dynamic economic engine
Posted January 18, 2013
One argument being made against the export of U.S. liquefied natural gas (LNG) is that exports might create a domestic natural gas shortage, harming consumers and industries that use natural gas to make things or to power their operations. The chart below shows that this line of attack is just fear mongering.
Posted January 18, 2013
At last week’s State of American Energy event in Washington, D.C., we interviewed some of the attendees on the future of U.S. energy development – which we’ll share in future posts. Below, BP America Executive Vice President Dave Nagel talks about America’s opportunity to move toward energy self-sufficiency through purposeful and careful management of its oil and natural gas reserves
Posted January 16, 2013
America’s oil and natural gas industry is bullish on America, having delivered a direct stimulus to the U.S. economy in 2011 worth more than $545 billion in capital spending, wages and dividends, according to PricewaterhouseCoopers. That’s $1.5 billion a day in economic lift from developing oil and natural gas. And industry is ready to do more.
Posted January 16, 2013
A recent PricewaterhouseCoopers study reveals some important numbers about the U.S. oil and natural gas industry, in terms of employment, labor income and value added in 2011:
- Industry supported 9.6 million jobs.
- More than $580 billion was paid in labor income, and industry’s estimated total addition to U.S. GDP was $1.1 trillion, accounting for 7.3 percent of the national total.
- Industry invested about $292 billion in capital expenditures and paid out $28.7 billion in dividends to the real owners of America’s oil and natural gas companies – including dividends paid to retirement plans.
Posted January 11, 2013
U.S. Chamber of Commerce President and CEO Tom Donohue in his annual State of American Business address, rightly identifying American-made energy as a critical to broad economic recovery and to solving the nation’s fiscal problems:
“Today, 23 million Americans are unemployed, underemployed, or have stopped looking for work. A record 47 million people are poor enough to be on food stamps. Median family income has dropped to 1995 levels—so we’re going backward. … From top to bottom we need more success in America. We need to nurture success, empower it, reward it, and celebrate it. … Proceeding swiftly and responsibly to develop more American energy can help us immeasurably with our fiscal problems, but it can also do so much more for our country.”
Posted January 9, 2013
The U.S. Energy Information Administration’s Short-Term Energy Outlook released this week contains two important crude oil stats:
- U.S. domestic production is expected to continue growing rapidly over the next two years, from an average of 6.4 million barrels per day (bbl/d) last year to 7.3 million bbl/d in 2013 and 7.9 million bbl/d in 2014. Much of the production growth will come from drilling in tight plays in the Williston (North Dakota and Montana), Western Gulf and Permian basins (Texas).
- U.S. liquid fuel imports, including crude oil, are expected to decline to an average of 6 million bbl/d by 2014. EIA says the net import share will average 32 percent in 2014 “because of continued substantial increases in domestic crude oil production.”
Posted January 8, 2013
The state of American energy in 2013 could be summed up in a word: opportunity – the opportunity to develop America’s vast energy wealth to make our lives better, to grow our economy and to make our country safer, from an energy standpoint and overall.
Posted January 3, 2013
Kevin Bullis, MIT Technology Review’s senior editor for energy, has a piece noting that the most significant advances in the energy field the past year resulted from surging natural gas and oil production from shale via hydraulic fracturing – an impact Bullis says is unlikely to be unsurpassed by other energy sectors in the near future: