The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

economy  hydraulic-fracturing  jobs  jobs-and-economy  keystone-xl  oil34  oil-sands 

Mary Leshper

Mary Schaper
Posted June 20, 2013

Fuel Fix BlogIEA: U.S. Natural Gas Output to Accelerate Next Year

A new estimate from the International Energy Agency says  that 2014-2018 domestic natural gas production will increase thanks to expanded hydraulic fracturing. U.S. shale production increased six-fold to 265 billion cubic meters last year from 45 billion in 2007.

CNBC Underground Economy: How Shale Is ‘Fracking’ the Old Order

CNBC’s top states for business ranking reflects a reordering because of  a U.S. energy surge that “has literally transformed the financial landscape of the central corridor; creating jobs and rising incomes." According to CNBC, this points to the importance of policies that encourage more energy development. "The reality is, California could reap the same shale-oil and shale-gas bounties now benefiting North Dakota. Politicians simply choose not to."

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hydraulic-fracturing  manufacturing  natural-gas  technology  oil34 

Mary Leshper

Mary Schaper
Posted June 12, 2013

Fuel Fix BlogU.S. Led World in Oil Growth in 2012

According to a new BP report, U.S. oil production growth,  the largest in the country’s history, helped keep global crude prices from rising sharply. Shale development had the biggest impact on this increase in oil production.

Washington TimesU.S. Gains Global Competition as Shale Revolution Heats Up

While the U.S.  has been “the dominant player in the shale revolution until now,” the newspaper cites new estimates showing that Russia and China have potential to rise in the global market by exploiting their own shale resources.

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fracking  hydraulic-fracturing  marcellus  natural-gas  royalties  oil34 

Mary Leshper

Mary Schaper
Posted June 11, 2013

Pittsburgh Business TimesMarcellus Royalties Rising

The newspaper reports on a study by the Allegheny Institute for Public Policy showing that royalty income paid to land and mineral rights owners in Marcellus Shale play has skyrocketed in recent years, from an estimated $10.9 million in 2008 to  an estimated $731 million last year.

MSN Money Meet the State with America’s Strongest Economy

Thanks to the surge in hydraulic fracturing and shale development in North Dakota, the state’s GDP rose 13.4 percent in 2012 over 2011 to lead the U.S.  Per capita personal income also has soared, doubling since 2000.

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access  energy  natural-gas  oil34 

Mark Green

Mark Green
Posted June 10, 2013

House legislation requiring a new federal offshore leasing plan that includes areas off South Carolina and Virginia is the best way to create new access to federal oil and natural gas resources sooner rather than later. Later – much later – is likely under the current federal plan, which would keep lease sales from happening until 2017 at the earliest. Because of the time it takes to develop offshore resources, that means actual production wouldn’t occur until 2024 or even 2027.

Creating access to areas that currently are off-limits is critical to U. S. energy security, job creation and economic growth. Access leads to exploration, which results in the oil and natural gas development that’s vital to President Obama’s pledge to increase domestic production under his all-of-the-above energy strategy.

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hydraulic-fracturing  oil34 

Mark Green

Mark Green
Posted June 6, 2013

An annual report released this week says that taxable sales and purchases in North Dakota rose more than $5 billion, or nearly 30 percent, from 2011 to 2012 – certainly, music to the ears of government officials who know that this kind of economic surge equals surging revenue for the state as well. (Take note, New York and California.) The important numbers, according to North Dakota Tax Commissioner Cory Fong:

  • $6.7 billion in taxable sales and purchases for 2012’s fourth quarter, up 9.7 percent over the fourth quarter of 2011.
  • $25.291 billion for all of 2012, a 28.7 percent increase over 2011.
Playing a big role is energy – oil and natural gas production thanks to the Bakken shale, hydraulic fracturing and state policies that embrace development. Oil extraction was one of the leading growth sectors in 2012, increasing by 43.6 percent. That was second only to construction (52.2 percent), whose growth no doubt was linked to demand stemming from Bakken energy development.

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ethanol  exports  fracking  imports  renewable-fuel-standard  trade  regulations  blm34  deficit  oil34 

Mary Leshper

Mary Schaper
Posted June 6, 2013

Bloomberg Crude Output Exceeds Imports for First Time in 16 Years

The surge in U.S. shale development through hydraulic fracturing and horizontal drilling in North Dakota, Oklahoma and Texas has boosted domestic oil production – 7.3 million barrels a day  last week alone – to the highest level since 1986, according to the U.S. Energy Information Administration.

Fuel Fix BlogFeds Give More Time To Study Proposed Drilling Rule

Last month API asked for an additional 90 days to study  BLM’s proposed rule governing hydraulic fracturing. Today, Interior Secretary Sally Jewell said that she would allow an additional 60 days for stakeholders to review the proposed regulations.

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access  investments  natural-gas  offshore-drilling  oil34 

Mark Green

Mark Green
Posted June 5, 2013

Ernst & Young has a new study detailing $185.6 billion in total capital spending by oil and natural gas companies last year – the largest in the history of the firm’s oil and natural gas reserves study. Marcela Donadio of Ernst & Young:

“The increased exploration and development spend we’re seeing in this year’s study speaks to the incredible opportunity unfolding in tight oil from shale formations and the high cost of developing these unconventional resources.”

The study of U.S. upstream (pre-refinery stage) capital spending by the 50 largest companies (based on 2012 end-of-year oil and natural gas reserve estimates) found a 20 percent increase compared to 2011. Ernst & Young said the increase was largely due to increased tight oil and liquids activity. That refers to development in tight-rock formations, made possible by hydraulic fracturing and horizontal drilling.

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natural-gas  exports  liquefied-natural-gas  oil34 

Mary Leshper

Mary Schaper
Posted June 5, 2013

The HillFueling the Future

Bill Cooper, president of the Center for Liquefied Natural Gas, talked with The Hill about the future of natural gas exports. “This is not the first time the country has argued protectionism versus exports and that kind of thing,” he said. “Historically, if we look back over it, protectionism tends to lead to economic stagnation.”

Dallas Morning NewsU.S. Oil and Natural Gas Investment at 10-year High

An Ernst & Young study released Tuesday found that in 2012 the 50 largest U.S. oil and natural gas companies spent $185.6 billion on domestic exploration and  new production. That represented a 20 percent increase over the previous year and the most in the past 10 years.

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oil34 

Mary Leshper

Mary Schaper
Posted May 22, 2013

Today on National Maritime Day, let’s salute the merchant marines who operate the tankers that deliver the oil that makes our modern lives possible.

Think about it:  From the gasoline in our cars and trucks to the asphalt in our roads, from bicycle helmets to medical equipment, 60 percent of energy used daily by Americans is delivered by tanker.

The men and women of the maritime industry and the vessels they operate – around the clock and across the world - safely deliver the energy we need. Smaller tankers transport gasoline and other specialized petroleum products throughout the United States, while tankers  as long as the Empire State Building is tall transport crude around the globe.

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fracking  natural-gas  oil34 

Mark Green

Mark Green
Posted May 16, 2013

An early look at the Bureau of Land Management’s (BLM) proposed new rule governing hydraulic fracturing on federal and Indian lands shows the challenge of trying to create a new rule that doesn’t just add regulation on top of effective state rules already in place.

Certainly, BLM’s aim with this rule, compared to a previous version, was to take hydraulic fracturing regulation in a better direction – acknowledging the role of the states and measures including FracFocus.org, the online fracking fluid registry. And it appears BLM has done that to some degree.

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