The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

shale-energy  shale-jobs  oil-and-natural-gas-development  ghg-emission-reduction  fracking  hydraulic-fracturing 

Mark Green

Mark Green
Posted February 28, 2014

The scope of shale energy’s benefits and their impact on the United States – jobs, economic stimulus and increased energy security – seems ever-expanding.  Speakers at Bloomberg’s “Energy 2020” event described energy reserves large enough and technologies so advanced that Americans can contemplate a far friendlier future than would have been possible just a few years ago.

GE Chairman and CEO Jeffrey Immelt:

“A lot is taking place in natural gas. People historically have viewed this as a transition fuel. Now it’s becoming more of a baseload fuel. There’s more supply diversity, it’s viewed incrementally as cleaner and an interim solution to environmental issues. We see that taking place.”

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oil-and-natural-gas-development  job-growth  economic-growth  hydraulic-fracturing  horizontal-drilling  shale-energy  investment 

Mark Green

Mark Green
Posted February 25, 2014

The energy industry is working for America. A new Manhattan Institute report finds that in the slowly recovering U.S. economy the oil and natural gas industry is creating jobs and generating broad economic stimulus. Top findings:

  • While overall U.S. employment has yet to return levels predating the 2008 recession, the number of oil and natural gas jobs has grown 40 percent since then.
  • The U.S. energy revolution is almost entirely the result of development by more than 20,000 small and midsize businesses. The typical oil and natural gas firm has fewer than 15 employees.
  • Industry jobs are geographically dispersed. Sixteen states have more than 150,000 jobs in the oil and natural gas sector.

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oil-and-natural-gas-development  access  job-creation  hydraulic-fracturing  shale-benefits  keystone-xl-pipeline 

Mark Green

Mark Green
Posted January 30, 2014

President Obama, during his State of the Union address to Congress this week:

“… one of the biggest factors in bringing more jobs back is our commitment to American energy. The ‘all the above’ energy strategy I announced a few years ago is working … “

Yes, “all of the above” is working. It refers to embracing all energy sources – oil, natural gas, coal, nuclear, wind, solar, hydro, renewables and others. That the approach is working is seen in the United States’ increasing energy self-sufficiency. And America is more energy self-sufficient because we’re less reliant on others – chiefly thanks to surging domestic oil and natural gas production.

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keystone-xl-pipeline  greenhouse-gas-emissions  oil-and-natural-gas-development  fracking 

Mark Green

Mark Green
Posted January 30, 2014

Report: Keystone XL Review by U.S. Expected to be Positive

The Canadian Press: Canadian officials say they're encouraged by what they're hearing about a long-awaited report on the environmental impact of the Keystone XL pipeline that could be released imminently by the U.S. State Department.

Those sources in Washington and Ottawa say they've been told the report could be ready for release within a few days — and that it will bolster the case for the controversial energy project.

"What we're hearing is that it's going to be positive for the project — and therefore positive for Canada," said one diplomat in Washington, who spoke on condition of anonymity because he hadn't seen the report himself, although he had discussed its contents with American contacts.

"The rumours certainly are that it's very thorough and that the analysis will support the project."

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energy-policies  job-creation  economic-growth  oil-and-natural-gas-development  infrastructure  keystone-xl-pipeline 

Mark Green

Mark Green
Posted January 29, 2014

Energy issue positives from President Obama’s State of the Union address Tuesday night:

Crediting surging domestic oil and natural gas production for adding jobs, creating economic growth and revitalizing the manufacturing sector.

Recognizing that because of domestic output the U.S. “is closer to energy independence than we have been in decades.” 

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taxes  taxes-impact-on-business  oil-and-natural-gas-development  economic-policy 

Stephen Comstock

Stephen Comstock
Posted January 21, 2014

A new year unfortunately means the same old tired arguments from folks seeking higher punitive taxes on America’s oil and natural gas companies, in this case in the form of a post from the Center for American Progress (CAP), which seeks to simplify the complexity of comprehensive tax reform down to “end special tax breaks for the five biggest oil companies.” So what are these “special” tax breaks they want to end?

Well, the first identified by CAP is the “Section 199 deduction” created in 2004 to spur employment in U.S. manufacturing and is available for all U.S. taxpayers who manufacture in the U.S.  So, not special for oil and natural gas companies, and in fact oil and natural gas companies are already singled out for reduced used of the deduction, compared to other manufacturers. The second is the foreign tax credit deduction, which is designed to minimize double taxation and is available to all U.S. companies with operations overseas. So again, not special for oil and natural gas companies. Lastly, CAP wants to end the intangible drilling costs deduction (IDCs), which is a cost-recovery mechanism for oil and natural gas exploration and production expenses that has existed since 1913.  While drilling costs are unique to drillers, the deduction of costs is similar to cost-recovery provisions provided to every business, so not special, and as a bonus, IDCs are also not a tax break, as drillers pay the full amount of taxes that are owed. 

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job-creation  oil-and-natural-gas-development  economic-growth  energy-policy 

Mark Green

Mark Green
Posted January 8, 2014

Below is a video clip from API President and CEO Jack Gerard’s State of American Energy speech this week, detailing strong support from Americans for increased production of U.S. oil and natural gas – because this development translates into millions of good jobs.

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soae-2014  state-of-american-energy  oil-and-natural-gas-development  keystone-xl-pipeline  hydraulic-fracturing  shale-benefits  regulation 

Mark Green

Mark Green
Posted January 7, 2014

API President and CEO Jack Gerard’s annual State of American Energy address put surging U.S. oil and natural gas production into context, saying that it has created a generational opportunity to secure this country’s energy future – an opportunity that would have been unimaginable just a few years ago. Gerard:

“Our future is ultimately of our own design. … We will decide if America continues its march toward global energy leadership – a once-in-a-generation choice – or remains content to play a supporting role in the global energy market. We can erase what for decades has been America’s greatest economic vulnerability – our dependence on energy sources from other continents, particularly from less stable and friendly nations – and fundamentally alter the geopolitical landscape for decades to come, all while providing a much needed boost to our economy. But only if we get our energy policy right.”

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oil-and-natural-gas-development  keystone-xl-pipeline  ethanol  renewable-fuel-standard  hydraulic-fracturing  fracking  energy-exports  liquefied-natural-gas  lng-exports  soae-2014 

Mark Green

Mark Green
Posted January 6, 2014

API hosts its annual State of American Energy event on Tuesday at the Newseum in Washington, D.C., and the discussion will focus on choices our country can make to increase energy development, grow jobs and the economy and make us more secure in the world. The event will be streamed live beginning at noon. Join in the conversation on Twitter by using the #SOAE14 hashtag.

The event comes at a time when policymakers are considering important energy issues, some of them framed in recent posts by the National Journal and Politico. At the top of our list of key energy issues:

Keystone XL pipeline

Federal consideration of TransCanada’s application for a cross-border permit passed the five-year mark last fall – which means the Keystone XL could have been built twice in the time the pipeline has been held up by Washington.

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jobs  jobs-and-economy  oil-and-natural-gas-development  renewable-fuel-standard  e1534  keystone-xl-pipeline  fracking 

Mark Green

Mark Green
Posted December 30, 2013

As 2013 nears its end, noting some of the year's most popular Energy Tomorrow Blog posts:

Jobs = Job 1

PwC’s latest detailing of the economic impacts of oil and natural gas activity ranked the highest in readership. And why not: It’s a great story. PwC found that in 2011, the last year for which complete data is available, the industry recorded these key numbers:

  • 9.8 million full- and part-time jobs supported, directly and indirectly.
  • $1.2 trillion added to the economy, accounting for 8 percent of the national total.
  • Nearly $600 billion contributed in associated labor income – including wages, salaries, benefits and proprietors’ income.

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