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 March 2, 2015
Posted February 26, 2015
Posted February 9, 2015
In oil towns like Williston and Watford City, massive amounts of infrastructure have been built in just the last three years. Here's a look at some of the bigger projects:
People: Populations in once-small towns soared as people from around the country (and the world) migrated to the area for jobs. Williston Mayor Howard Klug says that the city of under 15,000 in the 2010 census now has a "serviceable population of 60,000 to 70,000."
Posted October 31, 2014
Fox News:Why is the White House Delaying the Keystone XL Decision?
Read more: http://bit.ly/1pbMGbR
Posted October 14, 2014
Posted September 9, 2014
"The more the US exports crude oil, the greater decline in gasoline prices," the study from The Brookings Institution's Energy Security Initiative claimed. "As counterintuitive as it may seem, lifting the ban actually lowers gasoline prices by increasing the total amount of crude supply, albeit by only a modest amount."
Brookings' finding are nearly identical to those of a May study from energy consultancy IHS which concluded that free trade of crude would cause US gasoline prices to fall 8-12 cents/gal due to the close link between gasoline and world oil prices.
Like IHS, the Brookings study claimed the impact of crude exports on gasoline prices dulls over time, falling from a 9-12 cent/gal drop in 2015 to 0-10 cents/gal by 2025.
Posted August 27, 2014
USAToday Editorial: There is much news these days from the world's major energy producing regions. Almost none of it is good.
Iraq, Libya and Syria are in turmoil. Russia, the world's largest exporter of natural gas and the second largest exporter of oil, is bullying Ukraine and by extension Western Europe. And Iran's nuclear program may yet provoke a market-roiling conflict.
Amazingly, as all this has transpired, U.S. gasoline prices have been stable, even falling. The domestic economy is picking up steam. And the stock market has hit all-time highs.
Go figure. Perhaps the markets are in denial and Americans are in for an ugly surprise. They were blindsided in 1973 when an Arab oil boycott led to higher prices and long gas lines, and again in 1979 when the Iranian revolution led to a second oil shock.
But there are legitimate reasons why things would look relatively good here while so much of the world burns. First among them is a U.S. energy renaissance that has left the nation far less dependent on Mideast oil.
Posted August 26, 2014
After graduating from Penn State with a degree in petroleum engineering, Curry didn't have much of a choice but to leave. He got a job that required him to travel and "bounced around the United States for a few years," the 43-year-old said recently.
"I eventually settled in Dallas, working for multiple oil and gas companies during my time there," he said. "Around 2008, I began hearing more and more about Marcellus and Range Resources, and I saw the opportunity to move home."
Curry is director of business development at Range Resources in Cecil Township, Washington County. He and his wife, Heather, have three children, ranging in age from 4 months to 5 years old -- "all born in Pittsburgh," said Curry, who is from Lower Burrell, Westmoreland County.
Posted August 14, 2014
Wall Street Journal (Jay Timmons, NAM): In a town famous for inaction, Washington is gearing up to take action on a major policy issue. But there's a hitch: The outcome could be the most expensive regulation in the nation's history, possibly tanking the economy and costing jobs at a time when businesses, manufacturers and families are making a comeback.
Later this year, the Environmental Protection Agency will decide whether it should tighten the air-quality standard for ground-level ozone. There are several things about this possible new standard that are alarming.