The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

american-energy  jobs  trade  gulf 

Mary Leshper

Mary Schaper
Posted July 21, 2014

Recent Improvements in Petroleum Trade Balance Mitigate U.S. Trade Deficit

 

EIA Today in Energy: Since the mid-1970s, the United States has run a deficit in merchandise trade, meaning that payments for imports exceeded receipts for exports. This large and growing deficit on the merchandise trade balance reached a maximum of $883 billion in the second quarter of 2008.

 

As a result of the recession, dramatic declines of imports in excess of exports during the fourth quarter of 2008 and the first quarter of 2009 reduced the merchandise trade deficit by 49%, to $449 billion in the second quarter of 2009. This trend of declining imports resulted in the lowest quarterly deficit level since early 2002. The merchandise trade deficit then increased to $686 billion in the fourth quarter of 2013, with much of the difference from the 2008 level ($131 billion) attributable to a $158 billion increase in net exports of crude oil and petroleum products.

Read More

american-energy  manufacturing  jobs  exports  fracking  texas  new-york 

Mary Leshper

Mary Schaper
Posted July 17, 2014

AEI Carpe Diem Blog: Below are four charts and two maps that help tell the story of America’s Amazing Shale Oil Revolution:

bigthree1

Read More

american-energy  jobs  fracking  colorado  alaska 

Mary Leshper

Mary Schaper
Posted July 16, 2014

Tyler (Texas) Morning Telegraph: VME Fabricators plans to double its Tyler workforce by year’s end and has surpassed goals set a year ago when the city and county agreed to tax abatements, representatives announced on Monday.

VME Fabricators is a new operating division and subsidiary of VME Process Inc., an international business based in Tyler. It provides offshore oil and gas separation and processing products.

VME Fabricators, which now has more than 50 employees in Tyler, was founded to serve onshore production needs for customers in the United States, providing module and pipe fabrication services. Its first orders will be shipped out in August, officials said in a prepared statement.

“As the domestic oil and gas market continues to grow, so will VME as we gain onshore market share and loyalty with customers needing reliable fabrication services,” Greg Jean, vice president and general manager of VME Fabricators, said in an email.

Read More

american-energy  energy-security  economy  jobs  fracking  exports  gulf-of-mexico 

Mary Leshper

Mary Schaper
Posted July 15, 2014

Reuters: By now everyone knows the shale revolution was made possible by the combination of horizontal drilling and hydraulic fracturing.

But although fracking has captured the popular imagination, and is often used as a synonym for the whole phenomenon, horizontal drilling was actually the more recent and important breakthrough.

Mastery of horizontal drilling around 1990, originally for oil rather than gas exploration, was the decisive innovation that lit the long fuse for the shale revolution that erupted 15 years later.

"Horizontal drilling is the real marvel of engineering and scientific innovation," David Blackmon wrote in Forbes magazine last year ("Horizontal drilling: a technological marvel ignored", January 2013).

"While impressive in its own right, the main innovations in fracking have been beefing up the generating horsepower to accommodate horizontal wells rather than vertical ones, and refining of the fluids used to conserve water and create better, longer lasting fractures in the target formation."

Read More

american-energy  economy  energy-security  jobs  fracking  refining-capacity 

Mary Leshper

Mary Schaper
Posted July 14, 2014

CNBC: The United States is swimming in oil and gas. But processing the new-found bounty is posing a challenge to U.S. refiners, which can't come to grips with the abundance in domestic supply.

A production renaissance has catapulted the United States into the upper strata of global energy producers. Yet with fewer than 150 refineries, the U.S. has a surprisingly limited capacity to process the bounty.

"Some refineries are better suited for light sweet crude," while others—primarily on the Gulf Coast—are better optimized for the heavier, international variety of oil, said Bob Greco, director of upstream operations for the American Petroleum Institute.

The huge increase in shale production in places like North Dakota is helping to revitalize East Coast refineries, Greco said in an interview.

Read More

keystone-xl-pipeline  energy-security  jobs  american-energy  economy  oil-sands 

Mary Leshper

Mary Schaper
Posted July 8, 2014

The Keystone XL Pipeline has been studied, and studied, and studied, in fact if the permit application were a person, it would have just graduated kindergarten. However, after nearly six years of studies which show positive benefits to our economy and energy security with no significant environmental impacts  – politics are still trumping good policy.

The Final Environmental Impact Statement released by the State Department earlier this year found the project would deliver 830,000 barrels of oil per day from Canada and the U.S. Bakken region to U.S. refineries, create 42,100 jobs during its construction phase and provide $3.4 billion in additional revenue to U.S. GDP.

Read More

american-energy  keystone-xl-pipeline  fracking  hydraullic-fracturing  economy  jobs  global-energy  lng-exports 

Mary Leshper

Mary Schaper
Posted June 26, 2014

Washington Post: Even Democrats who prefer to develop alternate energy sources before expanding the use of fossil fuels say they want the Keystone XL pipeline built.

 

The new Pew "Political Typology" report shows huge majorities of all four Democratic-leaning groups support the development of wind, solar and hydrogen alternatives to oil, coal and natural gas. But of those same four groups, the Keystone XL pipeline is still overwhelmingly popular in three of them.

 

Among "hard-pressed skeptics," "next generation left" and "faith and family left," support for Keystone is two-to-one. So even as a group like the "next generation left" group supports alternate energy over fossil fuels 83-11, it still backs Keystone 62-28.

Read More

fracking  hydraullic-fracturing  american-energy  lng-exports  keystone-xl-pipeline 

Mary Leshper

Mary Schaper
Posted June 25, 2014

Coloradoan: Loveland voters on Tuesday struck down a proposed moratorium on hydraulic fracturing, a controversial oil and gas extraction process that has been restricted in several cities along Colorado’s Front Range.

More than 20,000 ballots were cast, but ultimately the moratorium failed by about 900 votes, said city spokesman Tom Hacker. Results came in just after 10 p.m., making the Loveland election one of the last Colorado races to be decided Tuesday .

“Fortunately that means the Loveland citizens have spoken and that common sense prevailed,” said BJ Nikkel, director of the Loveland Energy Action Project, a group that campaigned against the moratorium.

Read More

american-energy  hydraulic-fracturing  fracking  keystone-xl-pipeline 

Mary Leshper

Mary Schaper
Posted June 24, 2014

Smithsonian.com Magazine: The shale gas boom, spurred by fracking and horizontal drilling, is bigger than anyone thought it would be. According to the U.S. Energy Information Administration, natural gas derived from shale now makes up a full half of U.S. natural gas production, says Scientific American. Shale gas wasn't supposed to make up such a large portion of our gas supply for another ten to twenty years.

Read More

american-energy  jobs  economy  energy-security  hydraulic-fracturing  fracking  innovation  technology 

Mary Leshper

Mary Schaper
Posted June 23, 2014

CNBC (U.S. Rep. Fred Upton): Millions of vacationing families will be hitting the highways this summer where, for the fourth year in a row, they'll face gas prices above $3.50 a gallon. Prices are already closing in on $4 a gallon, and the political upheaval in Iraq threatens to push them even higher. Costly fill-ups may seem like the new normal, but they do not have to be. The right energy policies can help ease future pain at the pump, as well as on the monthly electric bill, and for goods on store shelves. Even better, these policies can create new jobs in the process. Indeed, we can unleash the benefits of the American energy superpower — but only if the Obama administration embraces our potential.

Read More