The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

analysis  climate-change  energy-development  emissions  natural-gas-benefits  jack-gerard 

Jack Gerard

Jack Gerard
Posted September 17, 2015

Below is the first of a short series of posts on the intersection of energy development and efforts to meet climate-change goals. In this post, API President and CEO Jack Gerard comments on the Obama administration’s Clean Power Plan and its flawed approach of picking winners and losers in the energy sector.

On Monday, Aug. 3, the Environmental Protection Agency (EPA) announced sweeping new carbon regulations for power plants. By Wednesday, Aug. 5, the government announced carbon emissions from power plants in April 2015 reached a 27-year low.

Did the costly, top-down mandates of the Clean Power Plan really work that quickly? Of course not. The dramatic emissions reductions are the result of market forces that have nothing to do with heavy-handed government regulations and everything to do with the fact that the United States is the world’s leading producer of natural gas.

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analysis  energy-exports  crude-oil  economic-benefits  american-petroleum-institute 

Mark Green

Mark Green
Posted September 15, 2015

So here we are: Legislation that would end America’s 40-year-old ban on the export of domestic crude oil is moving through Congress – and better, there’s bipartisan momentum behind it.

Resistance to lifting the crude exports ban has no credible footholds – reflecting the breadth of the economic analysis supporting exports. There’s also the realization by most Americans that our country’s ongoing energy revolution has pretty much dashed the 1970s-era justifications for excluding American energy from the global marketplace, where it could be positively affecting global crude markets, stimulating production here at home and providing real energy aid to America’s allies.

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analysis  energy-exports  crude-oil  economic-benefits  production  american-petroleum-institute  jack-gerard 

Mark Green

Mark Green
Posted September 15, 2015

Join us Tuesday morning for a live event from Washington, D.C., that will explore the impacts of America’s crude oil exports ban on our economy, national security, foreign policy, the environment, consumers and more.

The event, hosted by National Journal and sponsored by API, is scheduled to begin at 8:45 a.m. API President and CEO Jack Gerard will introduce the event, followed by remarks from U.S. Sens. Heidi Heitkamp and John Hoeven, both of North Dakota, and Ed Markey of Massachusetts. 

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analysis  gulf-of-mexico  center-for-offshore-safety  offshore-safety  offshore-operations  industry-standards  bop34  bsee  job-growth 

Mark Green

Mark Green
Posted September 14, 2015

Safe, responsible energy development in the Gulf of Mexico is vital to the U.S. economy and job growth, as well as U.S. energy and national security. Each of these points likely will come up during a U.S. House Natural Resources Committee hearing on the impact of federal policies on energy production and economic growth in the Gulf, Tuesday in New Orleans.

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analysis  energy-exports  crude-oil  gasoline-prices  congress  american-petroleum-institute 

Mark Green

Mark Green
Posted September 10, 2015

An important step forward this week for legislation to end America’s outdated, 1970s-era ban on domestic oil exports: passage of the bill by a U.S. House subcommittee. Next a full committee vote and, perhaps before too long, a vote by the entire House. Yet, challenges remain.

No doubt the full Energy and Commerce Committee debate will be more vigorous. But that doesn’t diminish this week’s historic progress on lifting the export ban – a true relic from America’s energy past.  “This has been a long day coming,” said Rep. Joe Barton of Texas, the bill’s author.

As Barton explained, we’re at this point largely because of America’s energy revolution – the surge in domestic oil and natural gas production resulting from American innovation, technology, shale reserves and hydraulic fracturing and horizontal drilling.

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analysis  renewable-fuel-standard  rfs34  ethanol  economic-impacts  e1534  e8534  epa34 

Mark Green

Mark Green
Posted September 9, 2015

NERA Economic Consulting has a new study warning of potentially dire economic impacts from continued implementation of the Renewable Fuel Standard (RFS), as written into law by Congress.

NERA set up its study that way for good reasons: Despite abundant evidence that RFS mandates for ever-increasing ethanol use in the nation’s fuel supply are detached from reality, and although it’s pretty clear EPA has mismanaged the RFS to the detriment of those obligated to meet its mandates – the ethanol industry insists that the program continue as statutorily set out in 2007.

That, according to NERA, is a roadmap to potential economic calamity and consumer pain.

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analysis  energy-exports  crude-oil  economic-growth  american-petroleum-institute  gasoline-prices 

Mark Green

Mark Green
Posted September 9, 2015

API has a pair of new ads that drive home the economic and national security reasons for lifting America’s 1970s-era ban on exporting domestic crude oil

Here’s the national security spotClick here for the ad that underscores the job and economic reasons for lifting the ban. 

The television and online campaign launched this week in a dozen states – including Colorado, Florida, Illinois, Pennsylvania and Virginia – and the District of Columbia. The campaign is part of a broader push emphasizing the importance of updating U.S. energy policies to reflect America’s rise as a global energy superpower.

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analysis  energy-exports  crude-oil  congress  american-petroleum-institute  domestic-oil-production 

Mark Green

Mark Green
Posted September 8, 2015

It looks like last week’s U.S. Energy Information Administration (EIA) report pointing out the benefits of exporting domestic crude oil is pushing Washington policymakers closer to ending the 1970s-era ban on exports. McClatcheyDC reports:

Momentum is growing to lift the 40-year ban on exporting U.S. oil to foreign nations, with a federal report concluding that doing so wouldn’t raise gasoline prices. Congress could vote on proposals when it returns from its summer vacation after Labor Day. Rep. Joe Barton, R-Texas, said he has “green lights” from the House Republican leadership, and is confident the House will pass a bill on ending the ban this fall. “It is up to this Congress to examine the issue and move towards a better policy that reflects the reality of America today, not the America of 1975,” Barton said in an email.

It may be that EIA’s report marks “critical mass” in terms of how much research backing crude exports is needed to move the needle in Washington – saying, as a number of previous studies projected – that exporting U.S. oil won’t negatively affect consumers and will spur domestic production. EIA’s report addresses the White House’s chief concern, about the impact of a policy change on U.S. energy prices. And this week an important House subcommittee is scheduled to vote on legislation that would lift the export ban.  

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analysis  arkansas  ozone-standards 

Reid Porter

Reid Porter
Posted September 8, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Arkansas. We started the series with Virginia on June 29 and all information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information across the country will be populated on this map as the series continues.

As we can see with Arkansas, the energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.

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analysis  crude-oil  gasoline-prices  energy-exports  lng34  jack-gerard 

Mark Green

Mark Green
Posted September 4, 2015

The U.S. Energy Information Administration (EIA) reports that the average retail price for regular gasoline on Aug. 31 was $2.51 per gallon – the lowest price for the Monday before Labor Day since 2004 and 95 cents lower than the Monday before Labor Day last year. EIA explains:

Declines in crude oil prices are the main driver behind falling U.S. gasoline prices. Lower crude oil prices reflect concerns about economic growth in emerging markets, expectations of higher oil exports from Iran, and continuing actual and expected growth in global crude oil inventories.

Certainly, the global markets for a variety of commodities may be influenced by concerns, feelings and inklings of one kind or another. Let’s focus on the tangible reason EIA cites for lower global crude prices – hence, lower prices at U.S. pumps: growth in global crude oil inventories. That refers to production and supply to the market. The story behind that story is that over the past six or seven years, the United States has led the world’s top suppliers of petroleum and other liquids in production and rate of production growth.

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