The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

economy  jobs  american-energy  fracking  exports 

Mary Leshper

Mary Schaper
Posted October 27, 2014

Rigzone: The economic benefits to the United States from the energy industry have more than doubled in just the past ten years, even after accounting for inflation, according to a new study by The Perryman Group. The growth in the industry is worth about $1.2 trillion in gross product each year, the study noted, adding that the growth in the oil and gas industry since the economic recession has been “dramatic.” In fact, since the start of the economic recovery, the energy industry has contributed about 30 percent of the total job growth for the nation, Dr. Ray Perryman, president and CEO of The Perryman Group, said.

While it is generally recognized that a thriving oil and gas sector helps to create new jobs within and outside of the energy sector, it is less well-recognized just how important the industry is to overall employment. However, the study shows just how large a role the energy industry plays in the number of new jobs in the country.

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economy  energy-security  jobs  exports  keystone-xl-pipeline  fracking 

Mary Leshper

Mary Schaper
Posted October 24, 2014

Friends of U.S. Chamber of Commerce Blog: American free enterprise can achieve almost anything. But, only if we allow it to work properly (this requires a nimble regulatory environment and a streamlined permitting process). One stark example of this gone wrong is the increasingly evergreen example of the Keystone XL pipeline, a project that is projected to create 42,000 new jobs and generate 4 billion in economic activity. So far, we've waited 6 years for a response on the permit request.

Studies have been conducted. Talking heads and scientists have hashed out all the pros and cons. And despite broad affirmation and support, the American people are stuck waiting for Washington to act. Six years is a disgrace; bigger things can be done in far less time.

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economy  energy-security  jobs  american-energy  global-markets  exports  fracking 

Mary Leshper

Mary Schaper
Posted October 23, 2014

Bloomberg: U.S. companies will export more energy than they import by 2025 as shale oil and gas production keeps climbing and the transportation sector becomes more efficient, Wood Mackenzie Ltd. said in a note today.

Horizontal drilling and hydraulic fracturing in hydrocarbon-rich layers of shale rock have boosted U.S. oil and gas production by 42 percent in the past seven years. The U.S. vehicle fleet will become 40 percent more energy-efficient by 2030, said James Brick, a senior analyst at the Edinburgh-based research firm.

“A country can achieve energy independence through two channels,” Brick said in the note. “It can either produce more or consume less, and the U.S. is doing both.”

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american-energy  economy  energy-security  jobs  keystone-xl-pipeline  exports  fracking 

Mary Leshper

Mary Schaper
Posted October 21, 2014

Forbes (Robert Bradley Jr.): The environmentalist campaign to block the Keystone XL pipeline has run out of gas.

 

Canada’s largest energy firm, TransCanada, has announced plans to create an alternative to KXL that lies entirely within Canada’s borders – a pipeline that would transport crude from Alberta’s oil sands to our northern neighbor’s east coast.

 

Known as Energy East, the new project presents clear proof that, even without a U.S. pipeline, the Canadian oil sands will continue to be developed. By blocking KXL, the fourth and final leg of a 2,151-mile transnational project, green activists are simply denying Americans the project’s wide-ranging benefits. The U.S. State Department counts42,000 new jobs, plus the opening of a new way to get oil from Montana and North Dakota to Gulf Coast refineries.

 

If the Obama Administration doesn’t approve the 800,000 barrels/day, Alberta–U.S. Gulf Coast pipeline soon, an historic opportunity to improve the American economy and strengthen our country’s energy infrastructure will be squandered.

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energy-security  environment  jobs  exports  prices 

Mary Leshper

Mary Schaper
Posted October 20, 2014

Shale Boom Helping American Consumers as Never Before

Bloomberg: Oil traders might see the 27 percent slide in global prices as a bear market. For U.S. consumers, it’s more like an early holiday gift.

shale energy

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economy  environment  energy-efficiency  jobs  fracking 

Mary Leshper

Mary Schaper
Posted October 16, 2014

More Precise, Efficient Drilling Makes U.S. World’s Largest Petroleum Producer

 

AEI Carpe Diem Blog: The Department of Energy (EIA) video above explains how the steadily increasing productivity of oil and natural gas wells in the US — thanks to the increasing precision and efficiency of horizontal drilling and hydraulic fracturing — is increasing US oil and gas production. The shale revolution has increased domestic energy production so much in recent years that the US is now the world’s largest producer of petroleum products and natural gas combined.


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economy  jobs  american-energy  rfs34  exports  fracking 

Mary Leshper

Mary Schaper
Posted October 15, 2014

The State Journal (West Virginia): The U.S. Energy Information Administration's Drilling Productivity Report, released Oct. 14, revealed that the Marcellus Shale play is anticipated to produce more gas than other reported regions in November.

 

The Marcellus region is expected to produce 16,045 million cubic feet of gas per day in November 2014, reflecting a 217 mcf/day increase from October, making it both the highest-producing region among the Utica, Bakken, Eagle Ford, Haynesville, Niobrara and Permian basins.

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economy  jobs  american-energy  crude-oil  exports  colorado  texas 

Mary Leshper

Mary Schaper
Posted October 14, 2014

Huffington Post (Aspen Institute’s Thomas Duesterberg): The largely unanticipated boom in oil production in the last five years has revived a debate over whether the United States should reverse the forty-year old ban on exports of crude oil. Even though we still import around 30 percent of total crude and refined products, the U.S. refinery industry is unable to process much of the new supply of light crude oil produced from domestic light shale formations. In turn, domestic prices for light oil lag the world price and eventually could result in reduced levels of new production. Allowing exports would likely equalize domestic and world prices and also lead to more efficient global processing because many refineries abroad, especially in Europe, can do a better job than their U.S. counterparts. The United States would continue to import heavier grades of crude oil which its refineries are built to process.

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economy  energy-security  american-energy  jobs  gasoline-costs  fracking  hydraulic-fracturing  ohio 

Mary Leshper

Mary Schaper
Posted October 13, 2014

Detroit Free Press: Ground zero for America's "shale revolution" in gas and oil production, North Dakota is also the reigning title-holder for lowest unemployment among the 50 states.

There were more unfilled jobs in September than job applications within the state, where oil field workers can make six-figure salaries and even the fast-food restaurants dangle hiring bonuses of $300 or more. The state has been recruiting specifically from Michigan for workers of all stripes and skill levels — hoping to entice entire families to relocate and grow roots.

North Dakota's official 2.8% jobless rate in August is essentially full employment, allowing just about anyone who wants a job to get one. At the same time, Michigan's rate of 7.4% was stuck above the 6.1% national average. (The national rate was 5.9% in September.)

North Dakota's roaring economy has been the envy of state governors and, for proponents of fracking, a shining success story for how an energy boom can produce a job boom, even for workers in professions that aren't directly related to extracting natural gas and oil.

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american-energy  economy  energy-security  jobs  lng-exports  fracking  gasoline-costs 

Mary Leshper

Mary Schaper
Posted October 9, 2014

Columbus Dispatch: Consumers are starting to catch a serious break for a change on energy costs.

 

Gasoline prices in central Ohio are at their lowest level in nearly four years, while the outlook for home-heating costs this winter is better than a year ago.

 

“There’s definitely more money in my pocket,” said Kathy Bury, 58, of Blacklick, in eastern Franklin County.

She tends to buy gasoline $20 at a time. At current prices, that’s three-fourths of a tank, which is much more than a month ago, a contrast that “makes me happy,” she said. 

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