The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

american-energy  hydraulic-fracturing  pipelines  technology 

Mary Leshper

Mary Schaper
Posted October 15, 2013

Daniel Yergin: Out of ’73 Embargo ‘the Birth of the Modern Era of Energy’

Wall Street Journal: Forty years ago, on Oct. 17, 1973, the world experienced its first "oil shock" as Arab exporters declared an embargo on shipments to Western countries. The OPEC embargo was prompted by America's military support for Israel, which was repelling a coordinated surprise attack by Arab countries that had begun on Oct. 6, the sacred Jewish holiday of Yom Kippur.

 

With prices quadrupling in the next few months, the oil crisis set off an upheaval in global politics and the world economy. It also challenged America's position in the world, polarized its politics at home and shook the country's confidence.

 

Yet the crisis meant even more because it was the birth of the modern era of energy. Although the OPEC embargo seemed to provide proof that the world was running short of oil resources, the move by Arab exporters did the opposite: It provided massive incentive to develop new oil fields outside of the Middle East—what became known as "non-OPEC," led by drilling in the North Sea and Alaska.

 

Read more: http://on.wsj.com/18iHMi7

Read More

hydraulic-fracturing  fracking  economy  american-energy  jobs  global-markets 

Mary Leshper

Mary Schaper
Posted October 14, 2013

Central Europe is a Ready market for U.S. Natural Gas

Washington Post: The global economy is still struggling to overcome the effects of the recession sparked by the 2008 financial crisis. But energy — in particular, shale gas exploration — has become one of the strongest engines for the U.S. economy.

U.S. natural gas production has increased by one-fourth in the past five years, according to the Energy Information Administration; it has created 600,000 jobs since 2009 and helped drive down gas prices for millions of Americans. Moreover, the United States is now in a position to export gas. This surplus creates opportunities for the United States to again be a geopolitical player in Europe.

While U.S. officials ponder their approach to Syria, the larger Middle East and Central Asia, they need look no farther than Central Europe and the “Visegrád Four” (Hungary, Poland, the Czech Republic and Slovakia) to find some of the United States’ most passionate allies. 

Read more: http://wapo.st/17039Xv  

Read More

ethanol  blend-wall  renewable-fuel-standard  american-energy  hydraulic-fracturing  lng-exports 

Mary Leshper

Mary Schaper
Posted October 11, 2013

Analysis: Lawsuits Likely as EPA Declares U.S. Ethanol Blend Wall a ‘Reality’

Reuters: With two words, the U.S. environment regulator may be handing oil refiners the biggest win of a long battle to beat back the seemingly inexorable rise of ethanol fuel.

In a leaked proposal that would significantly scale back biofuel blending requirements next year, the U.S. Environmental Protection Agency (EPA) says the blend wall - the 10 percent threshold of ethanol-mixed gasoline that is at the crux of the lobbying war - is an "important reality".

The agency's rationale for a cut in the volume of ethanol that must be blended echoes an argument the oil industry has been making for months: the U.S. fuel chain cannot absorb more ethanol.

Read more: http://reut.rs/1hIy6OU

Read More

american-energy  hydraulic-fracturing  fracking  water-contamination  taxes  keystone-xl 

Mary Leshper

Mary Schaper
Posted October 8, 2013

Texas Continues to Lead the Shale Oil and Natural Gas Revolution

Forbes: Almost lost in all the news about the federal government “shutdown” (which has somehow left 83% of the government funded and functioning) over the last week are several new reports regarding the ongoing massive oil and natural gas Shale Revolution in the United States, and the role Texas is playing in making it happen…

When one includes condensate production from natural gas wells, Texas produced over 2.6 million BOPD in July, fully 35% of the nation’s petroleum production.  Just a little more than 2 years ago, in April 2011, Texas’s daily oil production was 1.3 million BOPD, accounting for just 20% of total US production.  That’s a phenomenal increase in only two years.  The state’s current production level would rank it 13th among all countries on earth, and the rate of increase will almost certainly move the state into the top ten within the next 12 months.

 

Read more: http://onforb.es/18N2qWO

Read More