Posted May 9, 2013
Blogger Mark J. Perry writes about a recent analysis by the Minneapolis Fed that delved into the economic impact of increased shale development in the Bakken area of North Dakota. The report found that counties within 100 miles of the Bakken experienced the next-largest increase in wages and the next-lowest level of unemployment, compared to other counties in the state.
CNBC highlights the surge in natural gas production through hydraulic fracturing in the Marcellus Shale play. The Marcellus "is at the sunrise of this [energy] renaissance. This is going to be just the beginning of an economic juggernaut for the US and Pennsylvania."
Posted May 7, 2013
The Wall Street Journal has an incisive editorial this week that compares the diverging trajectories of two big, energy-rich states: Texas and California. Texas is flush with well-paying oil and natural gas jobs, supported by shale development spurred by advances in hydraulic fracturing and horizontal drilling. The Journal notes that more than 400,000 Texans work in the oil and natural gas industry – nearly 10 times as many as in California – and the state has doubled its oil output since 2005. California? It used to be mentioned in the same breath as oil giants Texas and Alaska, but oil production is down 21 percent since 2001 and it has slipped out of the top-three tier of oil-producing states.
Posted May 7, 2013
In a guest column, Brigham McCown argues the benefits of the Keystone XL pipeline would extend beyond jobs and energy security to safety. According to government statistics, pipelines are the safest way to transport energy supplies, writes McCown.
U.S. News and World Report – Lawmakers: Natural Gas Exports Could Erode Political Might of U.S. Adversaries
U.S. News recaps today’s House Subcommittee on Energy and Power hearing, which focused on legislation that would expedite U.S. natural gas exports. Supporters say shipping natural gas to allies could strengthen diplomatic ties, undermine political leverage of adversaries, while also shaving the U.S. trade deficit and creating jobs.
Posted May 6, 2013
Wall Street Journal – A Tale of Two Oil States
The Journal’s editorial highlights oil-and-natural gas booming Texas and California – where oil output is down 21 percent since 2001. The difference between the two energy-rich states? “Texas loves being an oil-producing state while California is embarrassed by it.”
Christian Science Monitor – Drive to Make Energy Cleaner Has Stalled, Shale Could Help
“As we see from places like Texas and Oklahoma, where wind supplies up to 30% of all generation, shale gas and renewables can work together to build a low carbon future,” writes guest blogger Nick Grealy.
Posted May 2, 2013
The Atlantic – How Oil Made Working-Class North Dakota a Whole Lot Richer
In North Dakota’s Bakken Shale formation, Americans have been able to find high-paying work in the oil and natural gas industry as the state’s employment number grew by more than 35 percent from 2007 to 2011. But another part of this American success story is that jobs and paychecks have surged across industries – including technical services, transport, construction and food services.
Reuters Canada – TransCanada to Build $900 Million Alberta Oil Pipeline, Terminal
Keystone XL opponents claim that stopping the pipeline will keep Canada’s oil sands in the ground. However, as the U.S. waits for President Obama to decide on the Keystone XL Canada is moving forward with plans to move its growing crude oil supplies – and ship them elsewhere.
Posted April 30, 2013
The U.S. Geological Survey has new estimates for oil and natural gas in the Williston Basin shale area that simply blows the doors off previous estimates:
- 3.65 billion barrels of undiscovered, technically recoverable oil for the Bakken Formation.
- 3.73 billion barrels for the Three Forks Formation.
- The total, 7.38 billion barrels, is a two-fold increase over USGS’ 2008 estimate, which included only the Bakken Formation because Three Forks wasn’t thought to be productive.
The chart below shows how resource estimates have skyrocketed since 2008 and 1995, when the assessment totaled only in the millions of barrels:
Posted April 29, 2013
Washington Times – Pa.: High Methane in Town’s Water Supply Not Caused by Fracking
After a 16-month investigation, the Pennsylvania Department of Environmental Protection says there’s no evidence connecting hydraulic fracturing with high levels of methane found in private water supplies in Franklin Forks.
Wall Street Journal – Impact Fees Benefit Pennsylvania Towns
The Journal details ways the fees from hydraulic fracturing have been used by different communities. Cumberland Township, a small farming community in southwest Pennsylvania, got $1 million or nearly half its annual operating budget, which it used to buy new police and fire equipment as well as pay for other public needs. (Subscription required for this publication)
Posted April 26, 2013
CNN Money – America’s Air is Getting Cleaner and Less Costly
Increased natural gas production in the U.S. will be a huge driver in improving air quality, writes CNN Money in a report about improving air quality in the U.S. Also notable: In 2012, for the first time ever, natural gas generated as much electricity as coal, and with energy production surging, this trend is likely to continue.
Owners Carter Stewart and Ken Schlenker say they named Derby entrant “Frac Daddy” as a nod to their energy industry occupations – and hydraulic fracturing. “[We] consider this horse a tribute to the oilfield workers of America,” Stewart says.
Posted April 25, 2013
Low-cost shale natural gas has made North America – specifically the United States – a more competitive region for petrochemical producers. The sector has plans to add $120 billion in investments through 2030, according to an IHS analysis.
AEI Ideas Carpe Diem Blog – Spectacular Rise in America’s Oil Output
The U.S. last week reached a 21-year high for domestic oil production, more than 7.3 million barrels of oil per day, something that is “nothing short of phenomenal,” writes blogger Mark J. Perry. The last time U.S. output exceeded the 7.3 million bpd mark was in 1992.
Posted April 23, 2013
The Hill’s E2 Wire – Interior Chief Jewell on Fracking Rules: ‘One Size Doesn’t Fit All’
New Interior Secretary Sally Jewell hosted her first a public video chat this week. Jewell, a former oil and natural gas industry engineer, talked about her personal experiences with hydraulic fracturing, saying, “fracking as a technique has been around for decades. … I have performed the procedure myself very safely.”
Bloomberg reports that the nine geographic fields that make up the majority of Eagle Ford shale play in Texas yielded 471,258 barrels of crude a day in February, a 74 percent increase from last year.