Posted October 9, 2013
Fracking the U.S. Trade Deficit
Christian Science Monitor: The US is slowly chipping away at its trade deficit, which should create more jobs, more economic growth, less unemployment, and a smaller federal deficit.
And the boom in domestic energy production is a key factor behind that narrowing trade deficit Over the past decade, oil and gas production has surged at vast shale formations in Texas, North Dakota, Pennsylvania, and elsewhere across the US. That has led to a rise in exports of petroleum products and a reduction in the amount of oil and gas the US imports from abroad.
It's one benefit of the domestic hydraulic fracturing and horizontal drilling revolution that has stirred passion on all sides of the debate over America's energy future.
Read more: http://bit.ly/17XiSnK
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
Posted October 7, 2013
Is NY Fracking a Good Idea? Look at Pennsylvania
CNBC: First was Texas. Next came Pennsylvania and North Dakota. Could New York become the next U.S. shale hotspot?
It's a tantalizing prospect for some, given that the Empire State sits atop not one but two prolific shale formations, the Marcellus and the Utica. According to the most recent data from the United States Geological Survey, both have more than a combined 100 trillion cubic feet of estimated natural gas reserves.
Should New York overcome its deep reluctance to drill for natural gas, some experts say the state has the potential to ride a wave of domestic production—one credited with creating thousands of natural gas-related jobs nationwide. But so far at least, New York has given an ear to environmental interests that point to dangers around accessing the reserves, especially the hydraulic process known as "fracking."
Read more: http://cnb.cx/15Wtrnh
Posted October 3, 2013
U.S. Overtaking Russia as Largest Oil and Natural Gas Producer
Wall Street Journal: The U.S. is overtaking Russia as the world's largest producer of oil and natural gas, a startling shift that is reshaping markets and eroding the clout of traditional energy-rich nations.
U.S. energy output has been surging in recent years, a comeback fueled by shale-rock formations of oil and natural gas that was unimaginable a decade ago. A Wall Street Journal analysis of global data shows that the U.S. is on track to pass Russia as the world's largest producer of oil and gas combined this year—if it hasn't already.
The U.S. ascendance comes as Russia has struggled to maintain its energy output and has yet to embrace technologies such as hydraulic fracturing that have boosted American reserves.
Read more: http://on.wsj.com/1g4yqJZ
Posted October 2, 2013
California Can Protect the Environment While Sharing in a Financial Bonanza
The Globe and Mail: Hydraulic fracturing — fracking — has been used to extract oil and natural gas from shale rock for decades. But technological improvements in recent years have made the process far more efficient. It’s expanded use in states like North Dakota, Texas, Ohio, Pennsylvania and Colorado has sparked an energy revolution that is pushing the United States toward energy independence. It has also sparked major controversy over environmental concerns, nowhere more so than in California. On Sept. 20, Gov. Jerry Brown signed legislation regulating fracking. In this essay below, Colorado Gov. John Hickenlooper, like Brown an environmentally oriented Democrat, makes the case that energy development and environmental protection are not mutually exclusive.
A 21st-century oil and natural gas industry in Colorado is recognizing that more rigorous regulations translate into broader citizen acceptance. This evolution, and the joining of innovations like horizontal drilling with long-accepted practices like hydraulic fracturing, is moving America toward energy independence.
In the process, we are improving the quality of the air, as well as beginning to fight back against climate change. Colorado has a proud history of leadership and innovation in the deployment of clean energy technologies. We have laws in place that require utilities to produce as much as 30 percent of their electricity from renewable sources by 2020.
Read more: http://bit.ly/GzZbrG
Posted September 27, 2013
Fracking is Helping U.S. Produce More of Its Own Energy
Fact Tank: Though many Americans apparently don’t realize it, the U.S. is producing considerably more of its own energy. Last year the U.S. generated a record 79.1 quadrillion Btu (British thermal units) domestically, nearly 14% more energy than in 2005, largely due to increased production of oil and natural gas.
And with the ongoing boom in “unconventional” oil and gas production, the nation is on track to produce even more energy this year.
Read more: http://bit.ly/175nsA7
Posted September 26, 2013
The promise of American energy is something we have written about a lot on this blog. From the millions of more jobs the industry could support to the economic lift to local economies, energy benefits are real and tangible.
So a blog post from the Progressive Policy Institute’s Diana Carew caught our attention. Carew highlights the U.S. Investment Heroes report, in which eight of the top 25 U.S. Investment Heroes of 2013 were energy companies. Carew:
“…the sheer magnitude of the investments by these companies means the contribution of the energy sector to economic growth should not be ignored or discounted in the larger conversation… our research found that of the three categories, energy companies were by far making the biggest bet on America’s future.”
Posted September 25, 2013
Guest Editorial: Keystone Pipeline System Operating for Years
Sun Advocate: Here's a little-known fact: The Keystone pipeline system has been transporting oil sands from Canada to U.S. refineries in the Midwest for three years -- with no major leaks and, more importantly, no major complaints from environmentalists. …
The fact is that the Keystone XL pipeline is simply an extension of an already existing program that is working well, creating jobs and expanding U.S. manufacturing. It should be an easy, and quick, decision for any president concerned about the economy.
Read more: http://bit.ly/15tQTxq
Posted September 24, 2013
Progress, Not Perfection, in Tackling Global energy Challenges: WEC Report
Breaking Energy: The US, which ranks at number 15 on the 2013 Energy Sustainability Index, is facing serious challenges to improving its place on the index, and more importantly, its energy sector investment outlook, because of policy uncertainty. The recent moves by the Obama Administration to regulate carbon emissions from coal-fired power plants are, despite the President’s good intentions, “the worst kind of thing that can happen” in energy policy design, Mark Robson said. “The value of … doing nothing has gone up.”
“It’s not enough for the policy to be good, it needs to be implemented well,” MacNaughton said, echoing Robson’s point. Companies can now expect a period of lobbying and litigation over the EPA carbon rule adjustment proposal that delays investment and corporate decision making still further in a country with a rapidly aging power sector, MacNaughton said.
Read more: http://bit.ly/18nRBZQ
Posted September 23, 2013
Manage Risk, Reap Reward: With Good Rules, Fracking for Natural Gas and Oil Can Be Safe, Profitable
The Columbus Dispatch: When a former U.S. energy secretary tells a Columbus audience that hydraulic fracturing to extract oil and natural gas from shale formations can be done in a clean, safe way, that it’s all a matter of fixing errors in the process, that should inspire confidence.
And that’s obviously great news for Ohio, which has started to benefit economically from advances in this extraction process. Because of the newly accessible supply of natural gas, consumers have seen the cost come down after spiking in 2008, and prices could stay in the current range for decades.
Steven Chu, energy secretary under President Barack Obama from 2009 until this past April and now a Stanford University physics professor, was the keynote speaker on Tuesday at a conference by America’s Natural Gas Alliance. He called it a “false choice” to say that the U.S. has to choose between the environment and inexpensive natural gas.
Read more: http://bit.ly/16tlbKE