The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

american-energy  economy  energy-security  environment  jobs  new-york  pennsylvania  fracking  alaska  arctic 

Mary Leshper

Mary Schaper
Posted February 20, 2015

EIA Today in Energy: Working natural gas in storage has surpassed five-year average levels for the first time in more than a year. At 2,157 billion cubic feet (Bcf) as of February 13, stocks are 58 Bcf greater than the five-year average. Recent extremely cold weather may result in high stock withdrawals for the week ending February 20, which could again push stocks below their five-year average. However, natural gas production in February and March that is forecast to average 5 Bcf/day above the year-ago level is likely to contribute to healthy inventories and moderate prices as the nation moves from winter into spring.

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american-energy  policy  fracking  climate-change  gasoline-prices  new-york  keystone-xl-pipeline 

Mary Leshper

Mary Schaper
Posted January 15, 2015

President Obama is doing a two-step when it comes to fossil fuels. Obama and White House officials clear their throats by praising the oil and gas boom, and even taking a measure of credit for it, before moving on to the specific topic at hand. There has been a surge in domestic oil and gas production. Gasoline prices keep falling. The natural-gas boom has helped the manufacturing sector. And the combination of oil-production increases and low prices has boosted the U.S.'s foreign policy leverage against petro-states.

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gasoline-prices  hydraulic-fracturing  fracking  horizontal-drilling  imports  oil-and-natural-gas-production  new-york 

Mark Green

Mark Green
Posted December 29, 2014

The Week: One of the biggest stories of 2014 has been the astonishing drop in global oil prices. The price of the benchmark Brent crude went from over $100 per barrel at the beginning of the year to the $60 range as of this writing.

It's worth noting how massive and completely unexpected this price drop has been.

And it's worth noting how good it is for the U.S. economy. The price of oil is one of the biggest drags on consumer demand, the largest driver of the economy.

And to what do we owe this miraculous event?

In a word: fracking.

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american-energy  global-energy  global-markets  economy  fracking  new-york  jobs  keystone-xl-pipeline  regulations 

Mary Leshper

Mary Schaper
Posted December 22, 2014

Wall Street Journal: In early October, Saudi Arabia’s representative to OPEC surprised attendees at a New York seminar by revealing his government was content to let global energy prices slide. Nasser al-Dossary ’s message broke from decades of Saudi orthodoxy that sought to keep prices high by limiting global oil production, said people familiar with the session. That set the stage for Saudi Arabia’s oil mandarins to send crude prices tumbling late last month after persuading other members of the Organization of the Petroleum Exporting Countries to keep production steady.

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fracking  hydraulic-fracturing  new-york  economy  jobs 

Mary Leshper

Mary Schaper
Posted December 19, 2014

Editorial pages and columnists weigh in on Gov. Andrew Cuomo’s decision to ban hydraulic fracturing in New York:

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new-york  new-york-shale-gas  hydraulic-fracturing  horizontal-drilling  fracking  safe-operations  economic-benefits  pennsylvania 

Mark Green

Mark Green
Posted December 18, 2014

Some interesting perspective on New York’s decision to ban hydraulic fracturing – from neighboring Pennsylvania, where safe fracking has lifted the state economy while directly benefiting cities and towns all across the commonwealth.

Jeffrey Sheridan, press secretary for Governor-elect Tom Wolf’s transition team (to the Philadelphia Business Journal):

“Governor-elect Wolf opposes a ban, and he will work hard to make sure the process is safe. … Pennsylvania's natural resources should help the commonwealth become an energy leader, including renewable energy and energy efficiency, as well as a magnet for investment and job creation. Governor-elect Wolf's priority is to ensure that Pennsylvania is an energy leader with all Pennsylvanians sharing in the prosperity.”

Pennsylvanians are indeed sharing in prosperity that’s being generated by shale energy development, via responsible hydraulic fracturing and horizontal drilling: More than $2.1 billion in state and local taxes paid by industry, more than $630 million distributed to communities since 2012 – including more than $224 million in 2014. Plus billions in royalties paid by operators to private landowners.

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fracking  economy  jobs  environment  new-york  new-york-moratorium 

Mary Leshper

Mary Schaper
Posted December 18, 2014

Yesterday, New York Gov. Cuomo’s administration issued a statewide ban on fracking, a move that denies New Yorkers – especially landowners in the Southern Tier –benefits associated with the drilling method that’s driving America’s energy revolution.

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new-york  natural-gas-development  hydraulic-fracturing  horizontal-drilling  safe-operations  fracking  economic-benefits  pennsylvania 

Mark Green

Mark Green
Posted December 17, 2014

Here’s what you need to know about the Cuomo administration’s decision to ban hydraulic fracturing in New York: After more than six years of a state moratorium on natural gas development using fracking, after two years of reviewing the fracking research of others, after seeing safe fracking work in more than 30 states – including neighboring Pennsylvania, where fracking is generating billions in tax revenues, allowing the distribution of hundreds of millions of dollars to communities, as well as billions in royalty payments to private landowners – Gov. Andrew Cuomo and his team took the path that’s 180 degrees in the wrong direction for New York.

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domestic-energy-production  oil-and-natural-gas-development  congress  utah  oil-sands  keystone-xl-pipeline  new-york 

Mark Green

Mark Green
Posted December 2, 2014

U.S. News (Lamont Colucci): OPEC met on Nov. 27, and openly recognized that the United States' oil technological revolution – driven by enhanced oil recovery methods including hydraulic fracturing (known as fracking) and horizontal drilling – has undermined the cartel's economic and political power. This constitutes one of the major geopolitical and economic shifts of the 21st century in America’s favor. This meeting has been characterized as OPEC abandoning its role as a “swing producer” or simply the arbiter of oil supply and demand. Some are now suggesting that the new swing producer will be the United States.

Enhanced oil recovery technology was consistently denigrated as unworkable and unprofitable, and there will be many more articles restating this as the old wine in a new bottle. These technologies have made the U.S. the world's number one oil producer, surpassing Saudi Arabia and Russia. OPEC’s strategy of allowing the market to decide oil prices is designed to hurt American enhanced oil recovery activities, with the assumption that American producers need a higher profit margin per barrel than it does. This may be a horrible miscalculation on OPEC's part due to continual advances in technology and innovation.

According to a 2013 report, hydraulic fracking and horizontal drilling have the potential to increase the global reserve of oil from 1.6 billion barrels to 10.2 billion barrels. Domestically, we are already witnessing the 21st century oil boom generate prosperity for states like Colorado, Oklahoma, North Dakota, Texas, West Virginia and Wyoming. Current estimates indicate that by 2020 the United States will be the dominant worldwide producer of both natural gas and oil and achieve energy independence.

However, this energy issue has been dominated by the wrong people: economists, businessmen, engineers and environmentalists. They all have their required expertise, but all of this is really an issue of foreign policy and national security. There are four ways that this new situation can be welcomed by conservatives, liberals, realists and environmentalists.

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american-energy  manufacturing  jobs  exports  fracking  texas  new-york 

Mary Leshper

Mary Schaper
Posted July 17, 2014

AEI Carpe Diem Blog: Below are four charts and two maps that help tell the story of America’s Amazing Shale Oil Revolution:

bigthree1

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