Posted May 16, 2013
An early look at the Bureau of Land Management’s (BLM) proposed new rule governing hydraulic fracturing on federal and Indian lands shows the challenge of trying to create a new rule that doesn’t just add regulation on top of effective state rules already in place.Certainly, BLM’s aim with this rule, compared to a previous version, was to take hydraulic fracturing regulation in a better direction – acknowledging the role of the states and measures including FracFocus.org, the online fracking fluid registry. And it appears BLM has done that to some degree.
Posted May 15, 2013
Key findings in a new report by ICF International, analyzing the potential impacts of exporting U.S. liquefied natural gas (LNG):
Jobs – Average net growth is projected to range from 73,100 to 452,300 between 2016 and 2035.
Posted May 15, 2013
Washington Examiner – Fracking Could Create New Wealth for New York
In a guest column, former Department of Labor Chief Economist Diana Furchtgott-Roth discusses the opportunities hydraulic fracturing could bring to New York state. “Using the Pennsylvania data to project fracking's effect on New York counties, I find that the incomes of those who live in the 28 New York counties above the Marcellus Shale have the potential to expand by as much as 15 percent over the next four years -- if the state's moratorium is lifted.”
National Journal – Natural Gas Exports Loom Large Over Washington
NJ’s Amy Harder takes a look at the liquefied natural gas debate after a visit to Dominion’s Cove Point, Md., facility – a former import terminal waiting for federal approval to add export capabilities.
Posted May 14, 2013
Energy Biz – Shale Gas Shifting Global Energy Map
The global development of shale gas has the potential to boost worldwide natural gas supplies and help reduce market costs, writes Siemens Financial Services President Kirk Edelman. “For the U.S., the shale gas boom is still perhaps only a potential game changer, however, if realized, the economic benefits will be significant.”
Breaking Energy – The Science Behind the Keystone XL Pipeline Decision
Breaking Energy recaps the congressional Energy and Environmental Subcommittees’ joint hearing on the Keystone XL pipeline last week. Rep. Chris Stewart noted that Keystone XL has been under review for more than four years, which is how long it took to fight World War II, build most of the transcontinental railroad and the typical length of a college education.
Posted May 13, 2013
The Associated Press has this look at momentum for exporting U.S. natural gas, driven by an abundance of natural gas from shale via hydraulic fracturing. Bill Cooper, president of the Center for Liquefied Natural Gas, tells AP:
“LNG exports are a huge opportunity for the United States economy, our workers and our geopolitical relationships with countries such as Japan that are seeking to import natural gas. LNG exports will create jobs, increase government revenue and benefit consumers.”
Cooper is right. Studies – like this one for the Energy Department and this one by ICF International – show how America’s wealth in natural gas from shale could support demand here and overseas, to America’s benefit in terms of job and economic growth.
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.