Posted November 8, 2013
Fred Siegel: Fracking, Poverty and the New Liberal Gentry
Wall Street Journal: The transformation of American liberalism over the past half-century is nowhere more apparent than in the disputes now roiling a relatively obscure section of upstate New York. In 1965, as part of his "war on poverty," President Lyndon Johnson created the Appalachian Regional Commission. Among the areas to be served by the commission were the Southern Tier counties of New York state, including Broome, Tioga and Chemung. The commission's central aim was to "Increase job opportunities and per capita income in Appalachia to reach parity with the nation."
Like so many Great Society antipoverty programs, the effort largely failed. The Southern Tier counties remain much as they appeared in the 1960s, pocked by deserted farms and abandoned businesses, largely untouched by the prosperity that blessed much of America over the past five decades.
Beginning about a dozen years ago, remarkable improvements in natural-gas drilling by means of hydraulic fracturing, or fracking, seemed to promise a way out of poverty. The massive Marcellus Shale Formation under New York and Pennsylvania has proved to be "the most lucrative natural gas play in the U.S.," Business Week recently noted, because the shale produces high-quality gas and is easily shipped to New York and Philadelphia.
In Pennsylvania, a state long familiar with carbon production through oil drilling and coal mining, Democratic Gov. Ed Rendell backed fracking during his tenure from 2003-11, and the state has experienced a boom in jobs and income. Between 2007 and 2011, in Pennsylvania counties with more than 200 fracking wells, per capita income rose 19%, compared with an 8% increase in counties with no wells, as petroleum analyst Gregg Laskoski wrote for U.S. News & World Report in August.
Read more: http://on.wsj.com/1hrdrUJ
Posted November 7, 2013
Read more: http://on.wkyc.com/1b6PXyW
Posted November 6, 2013
Posted November 5, 2013
America’s Resurgence in Manufacturing Starts in the Shale Fields
Forbes: Our economy is straining at the bit to grow out of the Great Recession. You wouldn’t know that from the dreary news on both the jobs and GDP growth front. The good news is found in the incredible potential for high-paying jobs, growth and wealth creation bubbling up in America’s manufacturing sector.
Manufacturing is hot, even though we’re supposed to be in a post-industrial economy. The transformation in American manufacturing today is redolent of a century ago when innovation and growth in the industrial landscape was blossoming in both big companies and start-ups…
The dramatic growth in U.S. oil and gas production has not arisen from new discoveries or the opening of off-limits federal lands, but from new technologies and techniques that literally manufacture liquid and gaseous hydrocarbons from solid shale rock. Widely reported as “fracking” – hydraulic fracturing – the story is in fact one of deep industrial innovation, digital technologies and software. In other words, it is a secular shift in the industrial landscape.
Read more: http://onforb.es/1hgVN6i
Posted November 4, 2013
The Outsiders Who Saw Our Economic Future
Wall Street Journal: The experts keep getting it wrong. And the oddballs keep getting it right.
Over the past five years of business history, two events have shocked and transformed the nation. In 2007 and 2008, the housing market crumbled and the financial system collapsed, causing trillions of dollars of losses. Around the same time, a few little-known wildcatters began pumping meaningful amounts of oil and gas from U.S. shale formations. A country that once was running out of energy now is on track to become the world's leading producer.
What's most surprising about both events is how few experts saw them coming—and that a group of unlikely outsiders somehow did. Federal Reserve chairmen Alan Greenspan and Ben Bernanke failed to foresee the financial meltdown. Top banking executives were stunned, and leading investors such as Bill Gross, Jim Chanos and George Soros didn't fully anticipate the downturn.
Read more: http://on.wsj.com/172n4PZ
Posted October 30, 2013
Marcellus Natural Gas Pipeline Projects Will Primarily Benefit New York and New Jersey
EIA Today in Energy: Multiple pipeline expansion projects are expected to begin service this winter to increase natural gas takeaway capacity from the Appalachian Basin's Marcellus Shale play, where production has increased significantly over the past two years. These new projects are largely focused on transporting gas to the New York/New Jersey and Mid-Atlantic regions and would have limited benefit for consumers in New England, where price spikes during periods of peak winter demand appear likely to persist.
Posted October 29, 2013
Op-ed: Exports Bring Myriad Benefits
Houston Chronicle (James Clad): After the Arab oil embargo of 1973, America's energy dependence became the most obvious flaw in our superpower status.
Now, thanks largely to the shale revolution, domestic U.S. oil production is pushing imports to a 25-year low, holding down global prices despite Asian demand and Middle East/North Africa supply disruptions.
While the U.S. seems set to displace Saudi Arabia as the largest oil producer by 2020, our natural gas production has lifted our geopolitical gravitas. Now the world's largest natural gas producer, the U.S. is poised to take a growing profile as a gas exporter.Read more: http://bit.ly/18zur0R
Posted October 28, 2013
With colder weather creeping across the country, we think of the energy the U.S. oil and natural gas industry is providing for Americans’ lives, including heating homes and businesses. So when the Energy Department blog highlighted ways to “energize your neighborhood” with a series of energy-themed pumpkin stencils in time for Halloween – but didn’t include any for the sources of 62 percent of the energy Americans use – we thought maybe it was some kind of holiday trick.
Never fear, we've got the treats: Energy Tomorrow’s own pumpkin-carving stencils to fill in the gaps. "Energyween" anyone?
Posted October 25, 2013
The Case Against Renewable Fuel Standard Subsidies
American Enterprise Institute: How did we reach the point where the government is promoting a dreadful fuel that gets worse fuel economy than gasoline or diesel, drives up food prices, damages car engines and has unintended environmental consequences?
The Renewable Fuel Standard has come to symbolize everything that is wrong with government-imposed mandates. It is causing more harm than good and should be scrapped.
For years, ethanol was promoted as a renewable, homegrown alternative to gasoline, a way to reduce tailpipe emissions and dependence on imported oil.
In 2007, as part of the Energy Independence and Security Act, Congress adopted the RFS, requiring refiners to blend 13.8 billion gallons of ethanol into gasoline by 2013 and up to 36 billion gallons by 2022. This mandate, however, has become completely unworkable and unnecessary.
Read more: http://bit.ly/1hg9Mqv
Posted October 24, 2013
U.S. Carbon Emissions Hit Lowest Level Since 1994
USA Today: In a bit of encouraging climate news, the U.S. government reported Monday that U.S. emissions of heat-trapping greenhouse gases from the burning of fossil fuels were lower last year than at any time since 1994.
Driven by efficiency gains, an unusually warm winter and a switch from coal to natural gas, energy-related carbon dioxide emissions actually declined 3.8% in 2012 even though the U.S. economy grew 2.8% that year, according to new data by the U.S. Energy Information Administration, the statistical arm of the Department of Energy.
This emissions decline was the largest in any year that had positive growth in per capita gross domestic product (GDP) — its economic output — and the only drop when GDP rose at least 2%.Read more: http://ti.me/1eNNHNA