Posted February 26, 2014
Surge in Fuel Exports Boosting U.S. Trade Balance
Fuel Fix Blog: HOUSTON — Growing production of U.S. oil and gas is helping to improve the nation’s trade balance, according to a federal report Monday.
Dramatic growth in the export of refined petroleum products, such as jet fuel and gasoline, has led the way. The value of net refined exports increased 55 percent in 2013 over the prior year, reaching $33 billion, according to the U.S. Energy Information Administration.
U.S. refiners are finding cheaper domestic alternatives to overseas oil, causing a rally in the ratio of refined fuel exports to imports. Overall energy export values increased 8 percent in 2013 over the prior year. Total energy imports to the U.S. fell by 11 percent for the same time period.
Posted February 18, 2014
U.S. Energy Secretary Says Fracking Brings Prosperity
Capital New York: ALBANY—U.S. energy secretary Ernest Moniz said Andrew Cuomo should consider the economic prosperity fracking has brought to Pennsylvania as he weighs a ban in New York.
Natural gas produced by fracking has boosted American industry by more than $100 billion and lowered CO2 emissions, Moniz said, in an interview with Capital.
“This new resource is of critical importance. If you look at Pennsylvania, it's amazing, in the Marcellus shale,” he said. “They have gone from a very, very minor contributor to the national natural gas production, to nearly 20 percent in a remarkably short period. And as we know, that has had enormous economic benefits for the state. Obviously, New York will presumably take that as one of the factors to be considered in its decision.”
Moniz acknowledged that high-volume hydraulic fracturing presents environmental challenges, but said it can also be done safely. Proper management of wells is important including minimizing water usage as well as recycling and the careful monitoring of surface water and flow back fluids.
Posted February 10, 2014
How the U.S. Energy Boom is Changing America’s Place in the World
Time: It wasn’t even five years ago that Iran reelected hardliner Mahmoud Ahmadinejad in a disputed presidential election, openly admitted it was building a uranium enrichment facility and brazenly test-fired missiles capable of hitting targets in Israel. Fast-forward to today: A more conciliatory president, Hassan Rouhani, is making historic overtures toward the West and negotiations are showing rare progress toward containing the country’s nuclear program, which has kept the region—and the world—on edge for years.
The difference, according to former Obama administration National Security Advisor Tom Donilon, can be summed up in one word: “fracking.” That’s hydraulic fracturing, the drilling method that’s helped fuel an unprecedented domestic energy boom in the United States.
“There’s a direct line between the U.S.-led sanctions effort to put pressure on Iran” and the flood of oil and gas coming out of the ground at home due to fracking technology, Donilon said Thursday night at an event announcing a new report from the Center for a New American Security, titled “Energy Rush: Shale Production and U.S. National Security.”
Before the North American energy boom—the largest-ever annual increase in domestic oil production took place in 2012—a harsh sanctions regime against Iran looked more like a suicide pact for the oil-import-dependent U.S. Instead, America’s sudden energy abundance dampened the blow of reduced oil exports to the global economy, making truly harsh sanctions on Iran possible.
Read more: http://ti.me/1eKvYKd
Posted January 21, 2014
The Washington Post had an interesting article last week on a letter sent by 18 environmental groups to the White House. Interesting because it shows the extreme disconnect between their acknowledgement of reality and their demands. First the reality, from their letter:
“We understand that the U.S. cannot immediately end its use of fossil fuels and we also appreciate the advantages of being more energy independent.”
This is a huge, and welcome, admission of the energy reality that oil and natural gas provide and will continue to provide the energy the American people and American economy need.
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Posted January 31, 2011