The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

lng-exports  economic-growth  shale-benefits  keystone-xl  trade 

Mark Green

Mark Green
Posted May 16, 2014

Bloomberg: Dominion Resources (D) Inc.’s plan to export liquefied natural gas cleared a U.S. environmental review, a key step toward final approval as supporters in Congress seek to expedite overseas shipments of the fuel.

U.S. Federal Energy Regulatory Commission approval of Dominion’s proposed Cove Point project on Maryland’s Chesapeake Bay would have “no significant impact” on the environment, as long as proper measures are taken, the staff said today in an environmental assessment.

The full commission is scheduled to issue a final decision on Cove Point by Aug. 13. Cheniere Energy Inc. (LNG)’s Sabine Pass is the only U.S. project so far to win approval from the FERC and Energy Department.

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refineries  oil-and-natural-gas-development  shale-energy  trade  economic-growth  epa-regulation 

Mark Green

Mark Green
Posted May 15, 2014

Another benefit of America’s energy renaissance is seen in the competitive edge North American refiners are gaining because of lower feedstock costs, resulting from surging domestic crude oil and natural gas production.

The latest “This Week in Petroleum” report by the U.S. Energy Information Administration (EIA) says that U.S. and Canadian refiners are in a stronger position relative to European counterparts because of lower costs for domestic crude oil and natural gas, from which they make a variety of value-added finished products.

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crude-oil  lng-exports  energy-department  economic-growth  manufacturing  fracking 

Mark Green

Mark Green
Posted May 14, 2014

Wall Street Journal (subscription publication): Top Obama administration officials are considering relaxing federal laws banning crude-oil exports, a move that would upend decades-old policy, cause a political stir in Washington and sway the global oil market.

U.S. Energy Secretary Ernest Moniz said Tuesday that some of the fast-growing supply of domestically produced oil isn't suitable for refining locally, which could warrant re-examining a nearly 40-year-old law that bans exports of most crude.

"The nature of the oil we're producing may not be well-matched to our current refinery capacity," Mr. Moniz said Tuesday after an energy conference in Seoul. The administration is studying the issue, though government officials declined to comment on its scope or timing.

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economic-growth  oil-spill-prevention-and-response  safety  spill-prevention  spill-response  dispersants  infrastructure 

Mark Green

Mark Green
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.

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offshore-access  north-carolina  seismic  economic-growth  oil-and-natural-gas-industry 

Mark Green

Mark Green
Posted May 5, 2014

The waters off states along the Mid-Atlantic coast may hold significant new reserves of oil and natural gas, which is why the federal government should allow safe seismic testing on the outer continental shelf (OCS) there. Determining the resource base would clear the way for leasing, exploration and development that would mean jobs, revenue for government and more energy for America.

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shale-energy  unconventional-gas  unconventional-oil  hydraulic-fracturing  fracking  economic-growth 

Mark Green

Mark Green
Posted April 28, 2014

An infographic that clearly illustrates America’s choice on shale energy: significant economic growth, job creation and generated revenue for government because of continued energy development – vs. lost opportunity in all three areas if development is restricted.

The information is from IHS’ study on the economic impacts of unconventional oil and natural gas development – energy from shale and other tight-rock formations, safely and responsibly produced with advanced hydraulic fracturing and horizontal drilling


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oil-and-natural-gas-development  economic-growth  energy 

Mark Green

Mark Green
Posted April 22, 2014

Let’s start with a humorous look at some of the Keystone XL pipeline’s most ardent opponents, some of whom talk and act like they yearn for the days of yesteryear. You know – getting around on horses, cooking over campfires, living in tents and such.  

It’s no exaggeration to say that their dream world would not include oil or natural gas use and no electricity – or at least no electricity generated from natural gas and coal, which the U.S. Energy Information Administration says accounted for more than 66 percent of our power generation last year. Their simpler world – without fossil fuels – actually would be pretty complicated. Think about it.

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oil-and-natural-gas-development  new-york  new-york-drilling-moratorium  hydrofracking  fracking  economic-growth  marcellus 

Mark Green

Mark Green
Posted April 21, 2014

Probably nowhere is the economic impact of shale energy development more dramatic than in the contrast between two neighboring states – Pennsylvania and New York. The former allows hydraulic fracturing in the energy-rich Marcellus shale belt that runs through much of the state, the latter doesn’t – even though the Marcellus continues into the Empire State and could provide a big jobs boost on its Southern Tier.

Indeed, while New York is not a top producing state, the oil and natural gas industry still is driving strong job creation and economic growth. In a PwC study, New York ranked 7th in the country in overall impact from oil and natural gas development.

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infrastructure  energy-investment  oil-and-natural-gas-development  economic-growth  pipeline-construction  storage-tanks 

Mark Green

Mark Green
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.”

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economic-growth  kentucky  access  income 

Mark Green

Mark Green
Posted April 14, 2014

Much is written about the macro-economic effects of public policy, including energy policy. America’s oil and natural gas industry supports 9.8 million jobs – 5.6 percent of total U.S. employment – and contributes $1.2 trillion to national GDP, according to a study by PwC. But what about the state impacts? Over the next couple of weeks we’ll push out a series of posts focusing on selected states to examine energy’s more localize economic effects, as well as other energy-related issues.

Let’s start with Kentucky, where energy means jobs.

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