Posted March 6, 2015
Posted March 4, 2015
AEI Carpe Diem Blog: The Energy Information Administration (EIA) released new state crude oil production data last week for the month of December, and one of the highlights of that monthly report is that oil output in America’s No. 1 oil-producing state – Texas – continues its phenomenal, eye-popping rise. Here are some details of oil output in “Saudi Texas” for the month of December and the economic impact that production is having on the state and national economies:
For the ninth straight month starting in April 2014, oil drillers in Texas pumped out more than 3 million barrels of crude oil every day (bpd) during the month of December.
Posted February 18, 2015
Posted October 14, 2014
Posted October 10, 2014
A new University of Colorado study affirms the dynamic and critical role energy development is playing in the state – in terms of support for public schools, job creation and the economy.
Just looking at 2012, oil and natural gas activity generated more than $200 million for Colorado schools, supported nearly 94,000 jobs in the state and created more than $23 million in state economic activity, according to the report conducted by the university’s Leeds School of Business and commissioned by API.
Posted September 5, 2014
Greeley Tribune: A study by an energy initiative at Duke University shows that Colorado’s booming oil and gas industry has had a positive impact on public finances to date.
“Our research indicates that the net impact of recent oil and gas development has generally been positive for local public finances,” states the report, conducted by Daniel Raimi and Richard Newell of the Duke University Energy Initiative. “While costs arising from new service demands have been large in many regions, increased revenues from a variety of sources have generally outweighed them or at least kept pace, allowing local governments to maintain and in some cases expand or improve the services they provide.”
In Colorado, besides some harsher impacts on the Western Slope, the industry’s impact was a net positive, the study found, meaning that the benefits of the industry outweighed the costs of supplying services to support the industry.
Posted August 8, 2014
Penn Live (Brian Hollister): I was retired at age 49. After service in the military and a career as an Electronic Quality Engineer, I was pleased to be working independently at what I enjoy most, small construction projects. I was living comfortably while doing work for friends and community members.
But then came the economic collapse of 2008, and like so many Americans, my fortune - quite literally - changed. Overnight I lost much of what I'd saved for my future and I needed to return to work. It's a familiar story. After time away, the job market I found was quite different from the one I'd left behind.
Posted August 6, 2014
Applications to export as much as 25 billion cubic feet per day (bcf/d) equivalent of natural gas are stuck in the Department of Energy's limbo of lengthy review processes. Recently released studies and analysis indicate that each additional 10 bcf/d of natural gas produced to meet export demand would create 110,000 new jobs and $20 billion annually of new business for the energy supply chain - construction contractors, equipment companies, materials suppliers and production service providers. And with other nations rushing to fill the void left by the absence of U.S. exports, this window of opportunity will close and the business lost if we don't accelerate processing of these applications.
On the crude oil front, research firm IHS Energy conservatively projects that enabling exports would cause U.S. production to increase by an average of 1.2 million barrels per day by 2016, which would result in an additional $86 billion of GDP per year. With models showing about half of production-related output being created by the energy supply chain, this yields approximately $40 billion more per year in potential business for supply chain companies, with about another 200,000 new jobs.
Posted July 25, 2014
The Southern: In three years of working in the fracking fields of North Dakota, Rick Tippett has witnessed two accidents, he said.
Tippett, 61, of Creal Springs, said he never feels he puts his safety at risk when on a horizontal fracking site. Tippett works six weeks straight and returns to his Southern Illinois home during his 10-day breaks.
Between two weeks of orientation focused solely on safety, provided by a multitude of gas companies and regulators; yearly safety training and company-provided protective gear, Tippett said safety is “the No. 1 priority” on a job site.
Tippett spoke with The Southern Illinoisan after statements from Southern Illinoisans Against Fracturing Our Environment issued Wednesday that fracking is unsafe for workers. The SAFE comments came a day after fracking proponents urged faster movement on drafting rules to regulate horizontal fracking.
Accidents he has seen involved one friend who hurt his hand from a fallen pipe and another who was uninjured when water used for fracking splashed on him.
In the second incident, emergency crews responded and washed the man down as a precaution, Tippett said.
“They will stop all work if anything happens,” he said of companies operating the fracking sites.
Posted July 16, 2014
Tyler (Texas) Morning Telegraph: VME Fabricators plans to double its Tyler workforce by year’s end and has surpassed goals set a year ago when the city and county agreed to tax abatements, representatives announced on Monday.
VME Fabricators is a new operating division and subsidiary of VME Process Inc., an international business based in Tyler. It provides offshore oil and gas separation and processing products.
VME Fabricators, which now has more than 50 employees in Tyler, was founded to serve onshore production needs for customers in the United States, providing module and pipe fabrication services. Its first orders will be shipped out in August, officials said in a prepared statement.
“As the domestic oil and gas market continues to grow, so will VME as we gain onshore market share and loyalty with customers needing reliable fabrication services,” Greg Jean, vice president and general manager of VME Fabricators, said in an email.