Posted May 8, 2014
Highlights from API President and CEO Jack Gerard’s remarks at the 2014 International Oil Spill Conference (IOSC) in Savannah, Ga.:
- The United States’ rise to energy superpower status, built on surging oil and natural gas production, will demand increased energy infrastructure.
- Greater demand for energy will spotlight the oil and natural gas industry’s ability to develop reserves, but also how well industry transports and stores the energy it produces.
- Continuing to add to and improve industry’s ability to prevent and prepare for spills, as well as its response if incidents occur, will be key to sustaining America’s oil and natural gas renaissance.
Posted May 2, 2014
The number of direct jobs in oil and natural gas extraction has grown 7.2 percent since April last year, more than four times the growth rate in all U.S. jobs, according to BLS. The word for that kind of growth – in the midst of an economy still trying to heat up – is wow!
Now, keep in mind that the BLS data line for “oil and gas extraction” covers only part of industry’s upstream (pre-refining) segment. Scroll down a few lines in this BLS table to find direct jobs supporting oil and natural gas operations – such as building and dismantling field rigs, core drilling services, hydraulic fracturing services and much more – and you see dynamic growth there as well, 6.3 percent from April last year through March, the most recent data month available. Wow again.
Posted May 1, 2014
South Carolina, like Virginia, stands to gain thousands of jobs and see billions in economic growth if the federal government will allow oil and natural gas development in the waters off its coast.
A Quest Offshore Resources study projects more than $15.5 billion in cumulative energy spending in the state from 2017 to 2035 with offshore development, an energy boost to the state economy of more than $2.7 billion per year by 2035 and 35,569 jobs in 2035. South Carolina Gov. Nikki Haley:
“Let us step up. Let us do offshore work. Let us go and be part of the solution to our nation’s energy problem.”
Posted April 29, 2014
Take a look at the fuels and products delivered every day by America’s sprawling network of liquid petroleum and natural gas pipelines, and you’ll develop a new appreciation for energy infrastructure: gasoline, diesel, jet fuel and other fuels and natural gas and heating oil for our homes. Plus feedstocks to make products ranging from eyeglasses to pharmaceuticals. Pipelines are integral for modern living.
That’s why API’s recently launched “Pipeline 101” website is an important resource – to better understand the need for pipelines, as well as how they work, how safe they are and more.
Posted April 28, 2014
Virginia is for lovers – of domestic oil and natural gas production and investments in energy infrastructure. That’s what you see in a recent Harris Poll of registered voters in the commonwealth: Strong support for developing domestic oil and natural gas, including offshore reserves, as well as increased spending on infrastructure.
Some of the numbers:
- 80 percent support increased production of domestic oil and natural gas reserves. Just 11 percent oppose.
- 89 percent support increased development of U.S. energy infrastructure.
- 94 percent agree increased domestic oil and natural gas output could help strengthen America’s energy security.
- 91 percent agree increased domestic oil and natural gas production could help stimulate the economy.
And so it goes – with similar, slam-dunk margins on other questions, from benefits to U.S. consumers to economic growth.
Posted April 25, 2014
Reuters: Call it the comeback kid.
A new ranking of the competitiveness of the world's top 25 exporting countries says the United States is once again a "rising star" of global manufacturing thanks to falling domestic natural gas prices, rising worker productivity and a lack of upward wage pressure.
Posted April 21, 2014
Posted April 17, 2014
Posted April 16, 2014
Posted April 15, 2014
Last month a new study said more than $640 billion in energy infrastructure investments will be needed in the U.S. over the next two decades. Needed are pipelines, pumps and other infrastructure to keep pace with expected increases in domestic oil and natural gas production, the ICF International report said – much of it coming from energy reserves found in shale and other tight-rock formations through advanced hydraulic fracturing and horizontal drilling. ICF:
“Sufficient infrastructure goes hand in hand with well-functioning markets. Insufficient infrastructure can constrain market growth and strand supplies, potentially leading to increased price volatility and reduced economic activity.”