Posted April 17, 2013
You can’t help but feel empathy for New York state residents, struggling with high unemployment and low economic growth. Ads touting the “new” New York’s open-for-business attitude are airing nationally, trying to encourage new start-ups and to convince enterprises from other states to relocate in the Empire State.
Yet, the potential for dynamic economic growth and robust job creation is right under New Yorkers’ feet. The state’s Southern Tier counties sit atop the natural gas-rich Marcellus Shale – the same play that has fostered boom conditions in much of Pennsylvania.
Posted April 16, 2013
A pair of noteworthy items point to the sustainability of America’s shale natural gas revolution – and also its added benefits.
First, the newest biennial report by the Potential Gas Committee (PGC) says the United States has a total future natural gas supply of 2,688 trillion cubic feet (tcf) as of the end of 2012, a significant increase from its 2010 year-end estimate. Details:
- 2,384 tcf in technically recoverable reserves, including 2,226 tcf from conventional sources, tight sands and carbonates and shales, plus 158 tcf in coalbed reserves. The overall future supply number is the sum of PGC’s technically recoverable figure and the Energy Department’s latest figure for proved reserves (dry gas).
- Compared to the year-end 2010 estimate, assessed resources increased by 28 percent.
- The assessment is the highest in PGC’s 48-year history.
Posted April 15, 2013
The Hill – Energy Taxes Are No Budget Solution
Steve Forbes writes on The Hill’s Congress Blog that higher taxes on the oil and natural gas industry would cost jobs, lower energy production and actually reduce revenue to government over time. He cites a study showing that “a new tax on the industry would sacrifice 170,000 direct and indirect energy jobs by 2014.”
Houston Chronicle – It’s Wrong to Penalize the Oil and Natural Gas Industry
“Singling out our oil and natural gas industry for taxation penalizes producers,” writes the newspaper. “Bad guys? You mean the folks who employ our neighbors in good-paying jobs, contribute mightily to our tax base, civic life and sports and cultural/arts scenes? We don't think so.”
Posted April 11, 2013
New York Post – Gov. Cuomo’s Ugly Message to Businesses
Gov. Andrew Cuomo likes to declare that New York is “open for business,” but his prolonged refusal to OK hydraulic fracturing sends the opposite message, John Krohn writes in a guest op-ed.
Rockland County Times – Exports Grow Our Economy, Lift Ban on Natural Gas
In an op-ed, Margo Thorning writes that “the United States should capitalize on the comparative advantage it has over other countries with natural gas. In fact, respected economic consulting firm NERA recently analyzed LNG exports for the Energy Department and found that across every market scenario, increased exports would benefit the U.S. economy.”
Posted April 10, 2013
AEI Ideas – Economic Fact of the Day
According to new Bureau of Labor Statistics data, Midland, Texas, has the lowest metro jobless rate in the U.S. at 3.2 percent. What’s different about Midland, asks blogger Mark J. Perry. The town is in the heart of the Permian Basin oil field’s surging shale production – thanks to hydraulic fracturing.
Associated Press – Energy Secretary Nominee Backs Natural Gas ‘Revolution’
The AP recaps the nomination hearing for Ernest Moniz. During the hearing, Moniz noted the “stunning increase in domestic natural gas production” that has led to “reduced carbon emissions and a dramatic expansion of manufacturing and job creation.”
Posted April 9, 2013
Collaborating with Chevron’s Energy Solutions, the City of Patterson is working to improve the city’s sustainability, including solar installations and energy efficiency programs that will reduce costs for consumers.
Wall Street Journal – India Is Ready for U.S. Natural Gas
There is “significant potential for U.S. exports of LNG to grow exponentially,” writes Nirapama Rao, India’s ambassador to the U.S. “The prospect of increased Indian investment in the U.S. natural-gas market will usher in a new era for a strong and mutually rewarding India-U.S. energy partnership.” (subscription publication)
Posted April 4, 2013
Ryan Carlyle, a subsea hydraulics engineer, writes that oil accounts for one-third of humanity’s energy supply, is unrivaled in power generation and is fundamental to lifting billions of people out of poverty. Fun fact: If solar power generation doubled every decade for 100 years, it would still be pretty far behind oil today.
Wall Street Journal – Beware Tax Reform That Raises Taxes on Capital
Of the ongoing congressional debate over tax reform, Margo Thorning writes that “Investment, growth and job creation should be the cornerstones of any tax-reform effort.”
Posted March 29, 2013
Posted March 28, 2013
Posted March 27, 2013