The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

offshore-access  offshore-energy  offshore-lease  jobs  economy  revenue  outer-continental-shelf  energy-security 

Mary Leshper

Mary Schaper
Posted December 5, 2013

America’s vast offshore energy reserves present an opportunity to improve our economy, increase our energy security and create tens of thousands of jobs. According to a new study, opening the U.S. Atlantic Outer Continental Shelf (OCS) to offshore oil and natural gas development could turn that opportunity into reality. API’s Director of Upstream Erik Milito and the National Ocean Industries Association’s Randall Luthi outlined the study for reporters today. Milito:

“Oil and natural gas production off our Atlantic coast is a potential gold mine. Developing oil and natural gas in the Atlantic could put hundreds of thousands of Americans to work, make us more energy secure, and bring in needed revenue for the government. But none of these benefits will appear unless the federal government follows pro-development energy policies.”

According to the study, oil and natural gas development in the Atlantic OCS between 2017 and 2035 could:

  • Create nearly 280,000 new jobs along the East Coast and across the country.
  • Result in an additional $195 billion in new private investment.
  • Contribute up to $23.5 billion per year to the U.S. economy.
  • Add 1.3 million barrels of oil equivalent per day to domestic energy production, which is about 70 percent of current output from the Gulf of Mexico.
  • Generate $51 billion in new revenue for the government.

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offshore-access  offshore-development  american-energy  economy  jobs  gulf-leases  revenue 

Mary Leshper

Mary Schaper
Posted October 22, 2013

Domestic oil and natural gas development is a key driver of America’s economy and global energy security, API’s director of upstream and industry operations Erik Milito told reporters yesterday. Access to offshore resources currently off-limits in the Atlantic, Pacific and Eastern Gulf of Mexico  could supply even more of the energy and jobs Americans need. Milito:

“Americans are eager to put more of our offshore energy resources to work. If exploration and development is allowed to safely expand to new areas, domestic oil and natural gas could provide more energy, jobs and government revenue than ever before.”

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hydraulic-fracturing  fracking  american-energy  economy  revenue 

Erik Milito

Erik Milito
Posted October 22, 2013

Working in Washington D.C. big numbers (trillions and trillions) are thrown around casually, which can sometimes distort what these numbers actually mean in the real world.  An example from yesterday’s Washington Post:

The shale-gas boom will provide a modest boost to the U.S. economy. On average, the models in the Stanford study predicted that the natural-gas boom would raise GDP by about $70 billion per year over the next several decades (in current dollars).

$70 billion a year!  While, as the article notes, it is not an overwhelming percentage of GDP, ours is a big economy and $70 billion a year is nothing to be modest about.  There is a great breadth of industries contributing to our great economy so for comparison let’s pick one, and since I’m a big movie fan, let’s look at motion pictures. 

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engineers  jobs  hydraulic-fracturing  revenue 

Mary Leshper

Mary Schaper
Posted September 3, 2013

COLUMN – Your Kids Should Consider Petroleum Engineering

Reuters: Encouraged by some of the highest starting salaries available in any industry, record numbers of students are enrolling in petroleum engineering courses at U.S. universities.

It is part of a broader renaissance in engineering education, which should eventually ease severe skill shortages in the oil and gas sector.

But it will be the end of the decade before these new graduates are the experienced professionals needed to lead teams and make a real difference to exploration, output and refining.

In 2010, 1,295 graduate students enrolled in petroleum engineering courses at U.S. universities, according to the U.S. Department of Education's "Digest of Education Statistics."

Read more: http://reut.rs/15V2jb8

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e1534  economy  gasoline  ethanol  hydraulic-fracturing  marcellus-shale  security-and-access  renewable-fuel-standard  revenue  utica 

Mary Leshper

Mary Schaper
Posted June 24, 2013

AP - Boost For Cars or Bust? 

AP reports on the debate surrounding the Renewable Fuel Standard and E15 gasoline after a recent ruling by the Supreme Court. "The ever increasing ethanol mandate has become unsustainable, causing a looming crisis for gasoline consumers," API's Bob Greco said. "We're at the point where refiners are being pressured to put unsafe levels of ethanol in gasoline, which could damage vehicles, harm consumers and wreak havoc on our economy."

Houston ChronicleEnergy Surge Spreads Its Wealth Around City

Houston is arguably the center of American energy. With the surge in domestic energy, the city’s business sector – and revenues – has grown over the last few years. The Chronicle highlights the “vibrant metropolitan area.”

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fracking  lng34  manufacturing  new-york  revenue 

Mary Leshper

Mary Schaper
Posted May 1, 2013

Texas TribuneShale Boom Has Major Impact on Texas' Budget

Increased shale development in Texas has helped business surge in the Lone Star State, providing jobs not just in the industry but across the service sectors. But the most significant effect may be seen in the revenue provided to the state, according to the paper.

Press Connects.comNew York Deserves a Fracking Chance

In a guest opinion piece, Dr. Charles Carpenter points out that as the debate over hydraulic fracturing continues in the Empire State, more than 800,000 New Yorkers are currently unemployed, and since 2001 at least 1.6 million people have left the state. That’s the highest number of any state in the country – but fracking could change that.

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fracking  natural-gas  new-york  revenue 

Mark Green

Mark Green
Posted April 17, 2013

You can’t help but feel empathy for New York state residents, struggling with high unemployment and low economic growth. Ads touting the “new” New York’s open-for-business attitude are airing nationally, trying to encourage new start-ups and to convince enterprises from other states to relocate in the Empire State.

Yet, the potential for dynamic economic growth and robust job creation is right under New Yorkers’ feet. The state’s Southern Tier counties sit atop the natural gas-rich Marcellus Shale – the same play that has fostered boom conditions in much of Pennsylvania

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hydraulic-fracturing  fracking  keystone-xl-pipeline  natural-gas  revenue  taxes 

Mary Leshper

Mary Schaper
Posted April 15, 2013

The Hill Energy Taxes Are No Budget Solution

Steve Forbes writes on The Hill’s Congress Blog that higher taxes on the oil and natural gas industry would cost jobs, lower energy production and actually reduce revenue to government over time. He cites a study showing that “a new tax on the industry would sacrifice 170,000 direct and indirect energy jobs by 2014.”

Houston ChronicleIt’s Wrong to Penalize the Oil and Natural Gas Industry

“Singling out our oil and natural gas industry for taxation penalizes producers,” writes the newspaper. “Bad guys? You mean the folks who employ our neighbors in good-paying jobs, contribute mightily to our tax base, civic life and sports and cultural/arts scenes? We don't think so.”

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revenue  oil-sands  keystone-xl-pipeline  energy-economy  access 

Mark Green

Mark Green
Posted January 30, 2013

Two pieces of new polling info linked to the Keystone XL pipeline.

First, Rasmussen reports that the project, after more than four years on the Obama administration’s “to do” list, enjoys support from 59 percent of those surveyed. Just 28 percent oppose. Strong supporters (34 percent) outnumber strong opponents (10 percent) by more than three to one. There’s been strong support for the Keystone XL in polls by Fox News and Pew Research.

Speaking of Pew, last week they released another of their periodic surveys showing the issues Americans think are most important as President Obama and Congress get to work this year. Topping the list is strengthening the economy (86 percent say it’s a “top priority”), followed by improving the job situation (79 percent) and reducing the budget deficit (72 percent). What’s this got to with the Keystone XL pipeline?

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revenue  hydraulic-fracturing  fracking 

Mark Green

Mark Green
Posted December 7, 2012

The EIA is out with new energy statistics, which for those of us who do this sort of thing is basically a holiday* in itself. And it turns out there are plenty of gifts for America, too – first and foremost the incredible wealth of oil and natural gas opened up by horizontal drilling and hydraulic fracturing.

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