Posted June 20, 2013
Fuel Fix Blog – IEA: U.S. Natural Gas Output to Accelerate Next Year
A new estimate from the International Energy Agency says that 2014-2018 domestic natural gas production will increase thanks to expanded hydraulic fracturing. U.S. shale production increased six-fold to 265 billion cubic meters last year from 45 billion in 2007.
CNBC’s top states for business ranking reflects a reordering because of a U.S. energy surge that “has literally transformed the financial landscape of the central corridor; creating jobs and rising incomes." According to CNBC, this points to the importance of policies that encourage more energy development. "The reality is, California could reap the same shale-oil and shale-gas bounties now benefiting North Dakota. Politicians simply choose not to."
Posted June 14, 2013
Fuel Fix Blog – Report: Renewables, Natural Gas Should Work Together On the Grid
According to a new report by the Texas Clean Energy Coalition, natural gas and renewables “have a strong complimentary relationship” that is beneficial for providing the energy Americans need every day.
Today in Energy – U.S. Crude Oil Production Could Reach 10M Barrels Per Day By 2040
EIA projects that thanks in large part to increased tight oil production – shale development – domestic production could continue to expand to 10 million barrels per day or higher by 2040.
Posted June 14, 2013
The energy stimulus from shale development last year in Pennsylvania is big – big as in approaching a number with nine zeroes:
- $202.4 million collected in state impact fees from energy producers.
- $731 million in rents and royalties paid to land and mineral rights owners.
That’s nearly $1 billion from the oil and natural gas industry in terms of tax revenues for government to allocate (more below) and payments to individuals.
Pennsylvania officials announced this week $202,472,000 was collected in producer-paid impact fees in 2012. About $204 million was collected for 2011, bringing the two-year total to more than $406.6 million, state officials said. Public Utility Commission Chairman Robert F. Powelson:
“The PUC is entrusted by the Governor and the legislature with the collection and distribution of the Impact Fee monies. Again, we have met all of the deadlines in the legislation, which contains a complex and specific formula for getting this money into the hands of local communities.”