Posted March 26, 2014
Study Projects Major Job Losses From Banning Fracking in Colorado
Denver Business Journal: Fracking draws the ire of environmental activists, many of whom envision a world without the controversial process.
But economists from the University of Colorado (CU) predict job losses of 93,000, and $12 billion in lost gross domestic product (GDP), if proposed bans on hydraulic fracturing in Colorado become law, according to a study released Wednesday.
In just the first five years of a ban on fracking, the loss in GDP would be $8 billion and 68,000 fewer jobs, according to the study.
Posted March 25, 2014
U.S. to Become Top LNG Exporter, Experts Say
Fuel Fix.com: HOUSTON — The U.S. is poised to become the top exporter of liquefied petroleum gas — more commonly known as propane or butane — within just a few years, officials with research analyst IHS said Monday.
By the 2020s, the U.S. likely will displace top LPG exporters including Qatar and the United Arab Emirates, said IHS Senior Director Walt Hart, during the IHS International LPG Seminar in Houston. The domestic supply of propane and butane is on the rise, produced along with the booming output of U.S. shale gas. But the domestic market for propane and butane is relatively flat, several experts said.
That’s not the case abroad. While most U.S. LPG exports go to Latin America today, a growing portion likely will go to Asia as demand there rises, in part due to its use as a fuel source for heating and cooking but also because of its role as a feedstock for the manufacture of petrochemicals.
Posted March 20, 2014
The U.S. shale boom is beginning to ripple outward to American cities.
The shale mining industry's rising demand for materials and equipment along with the abundance of cheap fuel are fueling a modest renaissance in American manufacturing, according to a report prepared by IHS Global insight for the U.S. Conference of Mayors.
The shale extraction industry is itself driving growth through its hunger for steel pipeline, extraction machinery and other materials needed at domestic shale deposits, including the Bakken in North Dakota and the Marcellus shale in Pennsylvania. The availability of cheap fuel has in turn allowed these energy intensive manufacturing industries to cut costs and compete better with foreign imports.
Posted March 19, 2014
Posted March 14, 2014
Surge in Oil from U.S., Canada Helps Meet Global Demand
Wall Street Journal: LONDON—The dramatic increase in oil supply from the U.S. and Canada—coupled with a surprise surge in Iraqi output—helped stave off global demand pressures brought on by a cold U.S. winter and geopolitical concerns over rising tensions between Russia and Ukraine.
The International Energy Agency, a watchdog for the world's biggest energy consumers, said North American output helped mitigate a bigger-than-expected draw from global crude inventories, caused by a colder than usual winter in the U.S. Surging Iraqi crude output, which rose to its highest level since 1979, also helped keep global markets supplied, and prices in check.
Posted March 14, 2014
More on the growing discussion of how North America’s energy renaissance – led by surging oil and natural gas production – affects U.S. energy and national security and gives our country the chance to positively impact global stability. A part of that conversation is the significant role the Keystone XL pipeline could play in securing our energy future, allowing our country to have greater influence abroad.
Posted March 13, 2014
With SPR Test, Obama Administration Warms Up to Flex U.S. Energy Muscle
Reuters (analysis): A rare U.S. test of its strategic oil reserves may be just coincidentally timed with the most serious stand-off with Russia in decades, but the underlying message of the move announced on Wednesday left little doubt: Prepare for the rise of a new global energy superpower.
The Energy Department said it would offer up to 5 million barrels of sour crude from the Strategic Petroleum Reserve (SPR), with bids due in two days. Officials said the sale would ensure the reserves can still quickly deliver oil to refiners despite changing pipeline networks.
Posted March 11, 2014
For American workers the more-than-five-year wait for the Keystone XL pipeline is personal. Make that very personal.
During a press conference with other union leaders and API President and CEO Jack Gerard, Laborers International Union of North America President Terry O’Sullivan said the construction sector is saddled with 12.8 percent unemployment, with nearly 1 million out of work. So every one of the 42,000 jobs the U.S. State Department estimates the Keystone XL would create during its construction phase is highly prized.
Posted March 11, 2014
Denver Post Editorial: Speeding up U.S. natural gas exports was a good idea even before the crisis in Crimea, but it's an even better idea now.
It's not as if U.S. exports are going to undermine Vladimir Putin's imperialistic designs in the short term. Ukraine would love to be less dependent on Russia for natural gas, but the export infrastructure in the U.S. for liquefied natural gas (LNG), particularly in terms of ports, isn't ready.
Indeed, the earliest that an export terminal is expected to come on line is in late 2015, with other terminals becoming operational perhaps a couple of years later. For that matter, the government doesn't direct where exports go. If the price in Asia for LNG is higher than in Europe, U.S. exports will tend to wind up there.
Still, the more gas is available worldwide, the less leverage Putin will have in bullying neighbors and in talks with European powers such as Germany, which also depends on Russian gas.
Posted March 7, 2014
A new Washington Post/ABC News poll on the Keystone XL pipeline adds to the drumbeat of strong public support for building the pipeline. The Post/ABC survey shows a nearly 3 to 1 margin, with 65 percent saying Keystone XL should be approved.