Posted August 19, 2014
It is challenging to strike a balance between traditional energy sources, such as coal, oil and natural gas, and emerging renewables like wind and biomass. The Virginia Energy Plan, updated every four years by the Department of Mines, Minerals and Energy, serves as a guide.
Posted August 18, 2014
Albuquerque Journal (Former Sen. Pete Domenici): America has been handed a great gift, the gift of technological breakthroughs like horizontal drilling and hydraulic fracturing for oils and natural gas.
This gift, if we handle it properly, has the potential not only to free our nation from being hostage to other nations, but to allow Europe and other regions to free themselves from the tyranny of dependence on Russian sources of oil and gas.
Think how much differently our allies in Europe would behave in this time of crisis if they had the infrastructure, and the access, to handle natural gas and oil from America, Canada and Mexico.
New Mexico has played an important, I would say critical, role in this potential geopolitical and economic revolution.
Posted August 15, 2014
Forbes: The U.S. arm of the Stockholm Environment Institute (SEI) has been making news this week with a ‘new’ report claiming the Obama Administration drastically underestimated carbon emissions of the proposed Keystone XL pipeline. The report seeks to make the case as to why the final portion of the Keystone pipeline system should not be built.
As tantalizing as the report sounds, supporters of the pipeline have been quick to point out the report is actually a recycled 2013 SEI report which the State Department took into account, and largely dismissed.
Posted August 14, 2014
Wall Street Journal (Jay Timmons, NAM): In a town famous for inaction, Washington is gearing up to take action on a major policy issue. But there's a hitch: The outcome could be the most expensive regulation in the nation's history, possibly tanking the economy and costing jobs at a time when businesses, manufacturers and families are making a comeback.
Later this year, the Environmental Protection Agency will decide whether it should tighten the air-quality standard for ground-level ozone. There are several things about this possible new standard that are alarming.
Posted August 13, 2014
Bloomberg Businessweek: Fighting across Iraq, Libya, Ukraine and Gaza, and an accelerating economy, should mean higher oil prices. Yet crude is falling.
Six years ago, oil soared to a record $147 a barrel as tension mounted over Iran’s nuclear program and the world economy had just seen the strongest period of sustained growth since the 1970s. Now, West Texas Intermediate, the U.S. benchmark price, has traded below $100 for 10 days and Brent, the European equivalent, tumbled to a 13-month low.
What’s changed is the shale fracking boom. The U.S. is pumping the most oil in 27 years, adding more than 3 million barrels of daily supply since 2008. The International Energy Agency said yesterday that a supply glut is shielding the market from disruptions. Bank of America Corp., Citigroup Inc. and BNP Paribas SA concur.
Posted August 12, 2014
Wall Street Journal (subscription required): When House Republicans took up a measure to speed the government's reviews of applications to export natural gas, a move long sought by energy companies, the unexpected happened: The bill won "yes" votes from 47 Democrats.
The bill's sponsor, Rep. Cory Gardner (R., Colo.), anticipated some Democratic backing, but not that much. Rep. Steve Israel of New York, who leads the Democrats' House campaign arm, was a yes, as was House Minority Whip Steny Hoyer of Maryland. Both voted in 2012 to restrict oil and gas exports.
The energy boom is shaping a new kind of Democrat in national politics, lawmakers who are giving greater support to the oil and gas industry even at the risk of alienating environmental groups, a core of the party's base. The trend comes as oil-and-gas production moves beyond America's traditionally energy-rich states, a development that also is increasing U.S. geopolitical influence abroad.
Posted August 11, 2014
U.S. coal exports over the past six years are way up, in large part because of the administration’s effort to limit consumption domestically. Domestic production of oil and natural gas is rising fast as well, with producers seeking to export their products to foreign markets.
Posted August 8, 2014
Penn Live (Brian Hollister): I was retired at age 49. After service in the military and a career as an Electronic Quality Engineer, I was pleased to be working independently at what I enjoy most, small construction projects. I was living comfortably while doing work for friends and community members.
But then came the economic collapse of 2008, and like so many Americans, my fortune - quite literally - changed. Overnight I lost much of what I'd saved for my future and I needed to return to work. It's a familiar story. After time away, the job market I found was quite different from the one I'd left behind.
Posted August 7, 2014
Increased domestic energy production means Americans are buying less foreign oil and gas, and selling more of it overseas. That has tamped down the trade deficit in recent years, helping along an economy that continues to recover from the Great Recession.
Some say the deficit could be slashed further if the US were to ease energy export restrictions put in place to protect US consumers from global energy shocks. But such a move would have impacts that go beyond the country’s balance of trade. Critics of oil and gas exports say they will raise energy prices at home, and increase the environmental impacts of extracting and burning fossil fuels.
Either way, a renaissance in oil and gas production is already changing the way officials, analysts, and economists look at the future of the US economy.
Posted August 6, 2014
Applications to export as much as 25 billion cubic feet per day (bcf/d) equivalent of natural gas are stuck in the Department of Energy's limbo of lengthy review processes. Recently released studies and analysis indicate that each additional 10 bcf/d of natural gas produced to meet export demand would create 110,000 new jobs and $20 billion annually of new business for the energy supply chain - construction contractors, equipment companies, materials suppliers and production service providers. And with other nations rushing to fill the void left by the absence of U.S. exports, this window of opportunity will close and the business lost if we don't accelerate processing of these applications.
On the crude oil front, research firm IHS Energy conservatively projects that enabling exports would cause U.S. production to increase by an average of 1.2 million barrels per day by 2016, which would result in an additional $86 billion of GDP per year. With models showing about half of production-related output being created by the energy supply chain, this yields approximately $40 billion more per year in potential business for supply chain companies, with about another 200,000 new jobs.