Posted May 15, 2013
Washington Examiner – Fracking Could Create New Wealth for New York
In a guest column, former Department of Labor Chief Economist Diana Furchtgott-Roth discusses the opportunities hydraulic fracturing could bring to New York state. “Using the Pennsylvania data to project fracking's effect on New York counties, I find that the incomes of those who live in the 28 New York counties above the Marcellus Shale have the potential to expand by as much as 15 percent over the next four years -- if the state's moratorium is lifted.”
National Journal – Natural Gas Exports Loom Large Over Washington
NJ’s Amy Harder takes a look at the liquefied natural gas debate after a visit to Dominion’s Cove Point, Md., facility – a former import terminal waiting for federal approval to add export capabilities.
Posted May 8, 2013
The Advocate – Our Views: Riches Await in the Gulf
The Baton Rouge, La., paper touts the energy potential in the Gulf of Mexico after Interior Secretary Sally Jewell’s recent visit to an offshore rig there. The editorial backs Jewell’s statement that “maintaining the public’s trust in the safety and environmental performance of oil and gas production is critically important as we continue to tap into the Gulf’s abundant resource potential.”
TribLIVE – How’s the Economy? Looking Up
Washington County, Pa., leads the greater Pittsburgh region in terms of economic development projects, energy production and job creation – thanks to natural gas development and hydraulic fracturing.
Posted April 29, 2013
Washington Times – Pa.: High Methane in Town’s Water Supply Not Caused by Fracking
After a 16-month investigation, the Pennsylvania Department of Environmental Protection says there’s no evidence connecting hydraulic fracturing with high levels of methane found in private water supplies in Franklin Forks.
Wall Street Journal – Impact Fees Benefit Pennsylvania Towns
The Journal details ways the fees from hydraulic fracturing have been used by different communities. Cumberland Township, a small farming community in southwest Pennsylvania, got $1 million or nearly half its annual operating budget, which it used to buy new police and fire equipment as well as pay for other public needs. (Subscription required for this publication)
Posted April 25, 2013
Low-cost shale natural gas has made North America – specifically the United States – a more competitive region for petrochemical producers. The sector has plans to add $120 billion in investments through 2030, according to an IHS analysis.
AEI Ideas Carpe Diem Blog – Spectacular Rise in America’s Oil Output
The U.S. last week reached a 21-year high for domestic oil production, more than 7.3 million barrels of oil per day, something that is “nothing short of phenomenal,” writes blogger Mark J. Perry. The last time U.S. output exceeded the 7.3 million bpd mark was in 1992.
Posted April 11, 2013
New York Post – Gov. Cuomo’s Ugly Message to Businesses
Gov. Andrew Cuomo likes to declare that New York is “open for business,” but his prolonged refusal to OK hydraulic fracturing sends the opposite message, John Krohn writes in a guest op-ed.
Rockland County Times – Exports Grow Our Economy, Lift Ban on Natural Gas
In an op-ed, Margo Thorning writes that “the United States should capitalize on the comparative advantage it has over other countries with natural gas. In fact, respected economic consulting firm NERA recently analyzed LNG exports for the Energy Department and found that across every market scenario, increased exports would benefit the U.S. economy.”
Posted February 25, 2013
New analysis by the consulting firm ICF International indicates significant potential economic benefits from the export of U.S. liquefied natural gas (LNG):
- An average across the studied cases of 213,000 new jobs supported by LNG exports from 2015 to 2035.
- An average across the studied cases of 24,000 new jobs in the manufacturing sector over the same period.
- More than $720 billion in cumulative economic growth over the same period.
- An additional 291,000 barrels per day in natural gas liquids – the critical feedstock for chemicals and other industrial sectors – by 2035.
Posted February 22, 2013
A bipartisan group of U.S. senators has written Energy Secretary Steven Chu, urging the government to support liquefied natural gas (LNG) exports for the good of our economy and to improve our trade balance. Key points in their reasoning:
- Increasing demand for U.S. natural gas will be easily met by increases in production. The letter cites U.S. Energy Information Administration projections that a 20 percent increase in domestic natural gas demand between now and 2040 will be fully offset by a 40 percent increase in production.
- Domestic production will be stimulated if producers have greater access to U.S. natural gas reserves onshore and offshore – as well as greater access to “consumption markets.” This will bring job creation, economic growth and generate an in-flow of revenue from abroad.
- Artificial restraints on the marketing of U.S. natural gas tend to inhibit future investment in development.
Posted January 28, 2013
The campaign against the free trade of U.S. liquefied natural gas (LNG) generally goes down a few of tracks:
- Consumers will be hurt as “excessive” LNG exports stretch demand, making natural gas more expensive here at home.
- Blocking or restricting LNG exports will best fuel U.S. economic growth.
- The federal government needs to prevent “unrestricted” or “unlimited” LNG exports.
Fortunately, this doesn’t have to be one opinion against another. The U.S. Energy Department has a recent, comprehensive study on these issues in hand, in addition to reports and studies by other reputable organizations. The conclusions, based on scholarly research, should guide the federal decision on licensing the construction of LNG export facilities – more than a dozen of which are awaiting approval.
Posted January 25, 2013
This week API, on behalf of the U.S. oil and natural gas industry, furnished comments on the Energy Department’s 2012 study of the impact of exporting U.S. liquefied natural gas (LNG). You can read them in full here, but let’s cover some of the main points.
Posted January 17, 2013
America’s newfound abundance of natural gas resources is a boon to the nation. It is creating jobs, reducing home heating and electric bills and lowering energy and raw materials costs for businesses. … And the opportunity to do more is before us – to produce more natural gas, spur additional economic activity and create even more jobs – by serving international markets as well as American ones.