The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

energy-policies  exxonmobil  trade  energy-exports  fracking  taxes  tax-revenue 

Mark Green

Mark Green
Posted March 13, 2015

UPI – U.S. policymakers are called on to adopt the energy policies necessary to take advantage of the new era of abundance, the chairman of Exxon Mobil said.

Some energy companies with a focus on exploration and production are advocating for a repeal of a ban on the export of some domestically-produced crude oil. The ban was enacted in the 1970s in response to an export embargo from Arab members of the Organization of Petroleum Exporting Countries.

Exxon Chief Executive Officer Rex Tillerson led the drive, telling an audience at The Economic Club in Washington D.C. current policies are out of step with the energy landscape in the shale era.

"It is time to build policies that reflect our newfound abundance, that view the future with optimism, that recognize the power of free markets to drive innovation, and that proceed with the conviction that free trade brings prosperity and progress," he said in a Thursday address.

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renewable-fuel-standard  rfs34  ethanol  regulation  ozone  taxes  keystone-xl-pipeline  alaska 

Mary Leshper

Mary Schaper
Posted March 12, 2015

Oil and natural gas industry groups joined by environmentalists and anti-hunger groups have joined forces to outline concerns with the Renewable Fuel Standard (RFS) and to ask Congress to repeal or significantly reform the program with its ethanol mandates. 

Additional coverage includes biofuels producers wanting accountability and reform on the RFS' ethanol requirements, and the push for eliminating the RFS once and for all.

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american-energy  exports  fracking  pennsylvania  taxes  ethanol  rfs34 

Mary Leshper

Mary Schaper
Posted March 11, 2015

The Hill (Congress Blog): The ongoing shale oil renaissance and the United States’ abundant natural resources has transformed our energy landscape, allowing American consumers access to affordable fuel supplies and spurring significant investment and job growth across our economy. But in order for this renaissance to continue, it is critical that lawmakers ensure that U.S. policy keeps pace so that our energy resources are being leveraged to provide the maximum benefit to the nation’s economy and international geopolitical interests.

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energy-taxes  shale-energy  natural-gas  pennsylvania  taxes 

Reid Porter

Reid Porter
Posted March 3, 2015

If it ain’t broke, don’t fix it.   That colloquialism should guide Pennsylvania policymakers on energy tax policy. The commonwealth already has a successful tax system in place that generates significant revenues and local funding from energy development without jeopardizing jobs. As reported by the governor’s Department of Environmental Protection, Pennsylvania continues to increase its natural gas output, producing more natural gas each of the past three years.

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american-energy  policy  growth  methane-emissions  keystone-xl-pipeline  taxes  fracking 

Mary Leshper

Mary Schaper
Posted February 13, 2015

EIA Today in Energy: The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing commercial volumes of either natural gas from shale formations (shale gas) or crude oil from tight formations (tight oil). The United States is by far the dominant producer of both shale gas and tight oil. Canada is the only other country to produce both shale gas and tight oil. China produces some small volumes of shale gas, while Argentina produces some small volumes of tight oil. While hydraulic fracturing techniques have been used to produce natural gas and tight oil in Australia and Russia, the volumes produced did not come from low-permeability shale formations.

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american-energy  taxes  exports  jobs  economy  manufacturing  fracking  lng-exports  keystone-xl-pipeline 

Mary Leshper

Mary Schaper
Posted January 13, 2015

Forbes (Mark P. Mills): It was predictable. Oil gets cheap and now there’s a contingent in Congress looking to slap a new tax onto gasoline. What’s surprising is that there are some conservatives in both Congress and the pundictocracy also receptive to the notion, including the estimable Charles Krauthammer. It’s a terrible idea. Instead of raising taxes, the Congress should be focused on helping the industry that created the oil glut, and that nearly single-handedly sustained the U.S. economy through the recovery from the Great Recession: America’s shale producers who are now subject to nearly unprecedented foreign market manipulation.

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energy  regulations  fracking  jobs  exports  regulatory-system  economy  taxes 

Mary Leshper

Mary Schaper
Posted January 5, 2015

NPR: President Obama’s chief custodian of federal lands says local and regional bans on fracking are taking regulation of oil and gas recovery in the wrong direction. “I would say that is the wrong way to go,” Interior Secretary Sally Jewell told KQED in an exclusive interview. “I think it’s going to be very difficult for industry to figure out what the rules are if different counties have different rules.” In November, two California counties added themselves to a growing list of local bans on hydraulic fracturing. Voters approved measures in San Benito and Mendocino Counties by wide margins. “There are a lot of fears out there in the general public and that manifests itself with local laws or regional laws,” Jewell said.

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american-energy  jobs  economy  taxes 

Mary Leshper

Mary Schaper
Posted May 22, 2014

Many analysts and politicians say this resource is the next industrial revolution. Hydraulic fracturing, or "fracking," has helped lead a boom in gas and oil production in the U.S. The new technology is unlocking oil and shale gas resources, spurring economic activity and giving industry a competitive edge with less expensive gas and electricity prices.

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taxes  tax-policy  cost-recovery  intangible-drilling-costs  section-199  foreign-tax-credit  lifo 

Stephen Comstock

Stephen Comstock
Posted January 29, 2014

Contrary to what some in politics, the media and most recently, the president during the State of the Union, have said, the oil and natural gas industry currently receives not one taxpayer “subsidy,” “loophole” or deduction. Since its inception, the U.S. tax code has allowed corporate taxpayers the ability to recover costs. These cost-recovery mechanisms, also known in policy circles as “tax expenditures,” should in no way be confused with “subsidies” – direct government spending or “tax loopholes.”

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american-energy  energy-security  energy-policy  fracking  exports  keystone-xl-pipeline  taxes 

Mary Leshper

Mary Schaper
Posted January 23, 2014

What The Captain & Tennille Teach Us About Energy Policy

Forbes: Love apparently didn’t keep the ’70s pop duo Captain & Tennille together.Toni Tennille has filed for divorce from Daryl Dragon after 39 years of marriage. Just as the pair’s most famous standard now rings false, so does our 1970′s notion of energy security. For the past 40 years, U.S. energy policy has been married to the idea of scarcity. Following the oil embargoes of the 1970s, we built policies, from export bans to ethanol mandates, based on the idea that we would forever be at the mercy of other oil-producing nations.

The hydraulic fracturing boom, however, has changed all that. North America is undergoing an energy renaissance. Domestic crude oil production has reached parity with imports, and the International Energy Agency predicts the U.S. may become the world’s largest energy producer as early as next year. Yet our policies remain stuck in the dark ages of scarcity. Lawmakers on both sides of the aisle are resisting efforts to lift the 1970s-era ban on crude exports, citing issues of “energy security.”

As Sen. Edward Markey, D-Mass., told the Wall Street Journal: “If we overturn decades of law and send our oil to China and other markets, oil companies might make more money per barrel, but it will be American consumers and our national security that will pay the price.”

There’s a difference between ensuring our energy security and hoarding resources. With our newfound abundance, security comes through continued development of domestic reserves.

Read morehttp://onforb.es/KMM7kV

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