Posted July 25, 2013
Des Moines Register – Iowa Will Have to Import Corn
With increased ethanol obligations and growing livestock operations needing more feed, Iowa – the nation’s “king of corn production” – will have to import kernels to keep up with demand, an analyst tells the newspaper.
Master Resource - Frac Bounty: All Should Participate
Blogger Paul Driessen highlights the benefits of U.S. shale development – game-changing technologies that have led to job creation and economic boosts across the country. Driessen got a first-hand look at hydraulic fracturing drilling in northern Pennsylvania noting the “signs of pride and prosperity were evident all over Williamsport.” Driessen: We need to frack for a better, cleaner, happier world!”
Posted July 23, 2013
AEI Ideas, Carpe Diem Blog – North Dakota Sees Highest Level of Income Mobility in the U.S. Thanks to Bakken Shale
Blogger Mark J. Perry notes another benefit of shale development in the Bakken: income mobility. Perry connects economic opportunity in the Bakken region with a new study showing a significant geographic correlation between a child’s chances of rising from the the bottom quintile by family income to the top income quintile.
Reuters – The Oil Boom's Foreign Policy Dividend
The domestic benefits of the surge in U.S. oil production are well documented, writes Reuters, but the geopolitical benefits are “less well appreciated.” Beginning in 2012, production in the U.S. and Canada grew by nearly 1.3 million barrels per day – outpacing global demand growth. “These developments were critical in allowing the United States to implement new, tougher sanctions in early 2012 that drove year-over-year Iranian crude exports down by nearly 15 percent in the first quarter alone.”
Posted July 22, 2013
According to new data from the Texas Railroad Commission, the nine fields that make up the Eagle Ford Shale play yielded nearly 582,000 barrels of crude oil a day in May, compared to nearly 369,000 barrels daily in 2012.
Thanks to impact fees from hydraulic fracturing in the Marcellus Shale region, Williamsport, Pa. can now invest more than $1 million to repair the city’s roadways, a city official says. "We're doubling the amount of investment because of Marcellus Shale impact fees," said John Grado, city engineer and director of community and economic development.
Posted July 12, 2013
Posted July 1, 2013
Energy Outlook - President's Climate Plan Hinges on Natural Gas
President Obama's plan for addressing U.S. greenhouse gas emissions depends heavily on expanded hydraulic fracturing of domestic shale gas resources, writes Geoffrey Styles.
News and Sentinel.com – Educational Program Focuses on Oil and Natural Gas Jobs
In an effort to train more workers for the surging shale industry, Ohio’s Washington State Community College hosted an informational session on opportunities for students and workers with an emphasis on filling new positions locally.
Posted June 24, 2013
More from last week’s energy conference hosted by the U.S. Energy Information Administration ...
The Big Takeaway: Analysts, statisticians, academics, producers – the U.S. Energy secretary – all acknowledge the unfolding of a significant, American revolution in oil and natural gas production, which is reflected in EIA’s chart showing decreasing U.S. dependence on imported liquids:
Posted June 14, 2013
Fuel Fix Blog – Report: Renewables, Natural Gas Should Work Together On the Grid
According to a new report by the Texas Clean Energy Coalition, natural gas and renewables “have a strong complimentary relationship” that is beneficial for providing the energy Americans need every day.
Today in Energy – U.S. Crude Oil Production Could Reach 10M Barrels Per Day By 2040
EIA projects that thanks in large part to increased tight oil production – shale development – domestic production could continue to expand to 10 million barrels per day or higher by 2040.
Posted June 13, 2013
Wall Street Journal – U.S. Oil Notches Record Growth
In the latest sign that the shale revolution is remaking world energy markets, the WSJ cites BP’s 2012 Statistical Review showing crude production in the U.S. jumped 14 percent last year to 8.9 million barrels a day. (subscription publication).
Pittsburgh Post-Gazette – Pennsylvania to See $202.47 Million in Per-Well Fracking Impact Fees
A new Pennsylvania Public Utility Commission report notes that more than $200 million from hydraulic fracturing impact fees will be distributed to local governments across the state. Bradford County in the state's northeast will collect the most at $7.3 million while Washington is second at $4.7 million. Lycoming and Tioga counties follow with $4.4 million each.
Posted June 12, 2013
Fuel Fix Blog – U.S. Led World in Oil Growth in 2012
According to a new BP report, U.S. oil production growth, the largest in the country’s history, helped keep global crude prices from rising sharply. Shale development had the biggest impact on this increase in oil production.
Washington Times – U.S. Gains Global Competition as Shale Revolution Heats Up
While the U.S. has been “the dominant player in the shale revolution until now,” the newspaper cites new estimates showing that Russia and China have potential to rise in the global market by exploiting their own shale resources.
Posted June 12, 2013
BusinessInsider.com has an article disparaging oil and natural gas sector employment, as well as the industry’s ability to create new jobs:
… let's look at oil and gas mining. The industry really employs very few people. Less than 200K people are in the oil and gas extraction business. … And on a month over month basis, just 500 or so new jobs were created in May. … So while oil and gas is a big exciting story, it’s not directly a big source of new jobs.
Both points to the more than 6,000 people now working in direct industry jobs that were added from April to May of this year, according to the Bureau of Labor Statistics (BLS).
BusinessInsider.com’s piece is fairly shortsighted, failing to acknowledge what nearly every economist acknowledges – that a business sector’s real employment measure includes direct jobs but also supporting and associated jobs.