Posted March 24, 2015
Last week’s release of the federal Bureau of Land Management’s new hydraulic fracturing rule suggests it’s time to update an infographic we posted last summer on the administration’s regulatory march that could impede America’s energy revolution.
Unfortunately, the administration’s plans for energy regulation aren’t encouraging – not if you truly grasp the historic opportunity that surging domestic production of oil and natural gas is providing the United States.
We’re talking about the complete rewrite of America’s energy narrative, from one of scarcity – limiting America’s economic possibilities and overshadowing its national security concerns – to one of abundance in which the U.S. is more self-sufficient, more prosperous and more secure in the world.
We call that historic, revolutionary, a true renaissance in American energy.
Posted March 18, 2015
The Hill: Business groups are waging war on the Obama administration’s proposal to reduce ozone pollution, arguing the regulations would cripple the U.S. economy.
In order to comply with the proposed rule, many areas of the country would have to all but shut down land development and oil and natural gas drilling, industry groups charged on the final day for comments.
The Environmental Protection Agency (EPA) is being spurred on by greens and health groups, who argue that lower ozone emissions would benefit public health. The agency, they contend, is obligated to adopt the stricter standards.
But the rules would translate to higher electric bills for American families, the American Coalition for Clean Coal Electricity is said in comments it filed Tuesday.
Posted March 17, 2015
Reuters: Lifting a 40-year-old U.S. ban on crude exports would create a wide range of jobs in the oil drilling supply chain and broader economy even in states that produce little or no oil, according to a report released on Tuesday.
Some 394,000 to 859,000 U.S. jobs could be created annually from 2016 to 2030 by lifting the ban, according to the IHS report, titled: "Unleashing the Supply Chain: Assessing the Economic Impact of a U.S. crude oil free trade policy."
Only 10 percent of the jobs would be created in actual oil production, while 30 percent would come from the supply chain, and 60 percent would come from the broader economy, the report said. The supply chain jobs would be created in industries that support drilling, such as oil field trucks, construction, information technology and rail.
Posted March 16, 2015
Denver Business Journal: The boom in oil and natural gas production in North America, largely due to the new technologies of horizontal drilling and hydraulic fracturing, is changing the balance of power across the world, former Secretary of State Condoleeza Rice told attendees at the Vail Global Energy Forum.
Rice opened a two-day forum, which continues through Sunday, with remarks on Friday evening at the Beaver Creek Ski Resort in Vail. The forum, now in its third year, is growing. Nearly 400 people registered for the 2015 event, a 20 percent increase over the previous year, organizers said.
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.
Posted January 30, 2015
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Posted December 31, 2014
So long, 2014. From an energy standpoint, you’ll be missed. Let’s count the ways:
Surging domestic oil and natural gas production – largely thanks to safe hydraulic fracturing and horizontal drilling – is driving an American energy revolution that’s creating jobs here at home and greater security for the United States in the world.
It’s a revolution with macro-economic and geopolitical impacts, for sure. But it’s also a revolution that’s benefit virtually every American.
Posted August 22, 2014
The national standard for ground-level ozone hardly needs tinkering. As noted earlier this year by Howard Feldman, API’s director of scientific and regulatory affairs, air quality in the U.S. has been steadily improving in recent years, and the health case for a more stringent ozone standard, which EPA may propose, hasn’t been made:
“We recognize that EPA has a statutory duty to periodically review the standards. However, the current review of health studies has not identified compelling evidence for more stringent standards. Tightened standards could impose unachievable emission reduction requirements on virtually every part of the nation, including rural and undeveloped areas. These could be the costliest EPA regulations ever.”
Costly nationally and to the states individually. A report for the National Association of Manufacturers says the U.S. could see a $270 billion per year reduction in GDP and 2.9 million fewer job equivalents per year on average through 2040. We’ve looked at potential state impacts in North Carolina, Ohio, Louisiana, Kentucky and Michigan. Today, Arkansas:
Posted April 5, 2013
Reasons why the oil and natural gas industry talks about a regulatory “tsunami” coming down from EPA:
- A newly proposed Tier 3 rule to further lower sulfur content in gasoline – that would have “very small” additional environmental benefit, according to a recent study. At the same time, it could increase the manufacturing cost of gasoline by up to 9 cents per gallon. (More on Tier 3 below.)
- Increases in the federal ethanol mandate under the Renewable Fuel Standard – which could add to the manufacturing cost of gasoline by about 30 percent by 2015, according to a study by NERA Economic Consulting. (Posts on that here, here, here and here.)
- A potential vapor pressure reduction requirement that could increase refinery costs.
- An expected Refinery Sector Rule, new ozone requirements and greenhouse gas controls for refineries.