Posted February 1, 2013
… regarding the Keystone pipeline, the administration should face down critics of the project, ensure that environmental standards are met and then approve it. … By approving Keystone, Obama can bolster his credibility within industry and among conservatives. The president can also take advantage of rising domestic oil and gas production to defuse concerns over energy security.
Posted January 24, 2013
As policymakers consider who will be the primary driver of America’s future energy development and innovation – Washington or the private sector – consider:
- Oil and natural gas supplied 62 percent of the energy America needed in 2011 – and is projected by government to supply nearly 60 percent of U.S. energy demand in 2040.
- The oil and natural gas industry provided $545 billion to the U.S. economy in 2011.
- In just unconventional resources (shale and other tight rock), industry is expected to invest more than $5.1 trillion in cumulative capital expenditures by 2035. The industry could add 1.3 million new jobs in this sector by 2020 for a total of 3 million jobs supported – growing to 3.5 million jobs by 2035.
Posted January 18, 2013
At last week’s State of American Energy event in Washington, D.C., we interviewed some of the attendees on the future of U.S. energy development – which we’ll share in future posts. Below, BP America Executive Vice President Dave Nagel talks about America’s opportunity to move toward energy self-sufficiency through purposeful and careful management of its oil and natural gas reserves
Posted January 16, 2013
A recent PricewaterhouseCoopers study reveals some important numbers about the U.S. oil and natural gas industry, in terms of employment, labor income and value added in 2011:
- Industry supported 9.6 million jobs.
- More than $580 billion was paid in labor income, and industry’s estimated total addition to U.S. GDP was $1.1 trillion, accounting for 7.3 percent of the national total.
- Industry invested about $292 billion in capital expenditures and paid out $28.7 billion in dividends to the real owners of America’s oil and natural gas companies – including dividends paid to retirement plans.
Posted January 11, 2013
U.S. Chamber of Commerce President and CEO Tom Donohue in his annual State of American Business address, rightly identifying American-made energy as a critical to broad economic recovery and to solving the nation’s fiscal problems:
“Today, 23 million Americans are unemployed, underemployed, or have stopped looking for work. A record 47 million people are poor enough to be on food stamps. Median family income has dropped to 1995 levels—so we’re going backward. … From top to bottom we need more success in America. We need to nurture success, empower it, reward it, and celebrate it. … Proceeding swiftly and responsibly to develop more American energy can help us immeasurably with our fiscal problems, but it can also do so much more for our country.”
Posted January 8, 2013
The state of American energy in 2013 could be summed up in a word: opportunity – the opportunity to develop America’s vast energy wealth to make our lives better, to grow our economy and to make our country safer, from an energy standpoint and overall.
Posted January 7, 2013
The oil and natural gas industry’s commitment to spill prevention and an improved response if one occurs is illustrated in a just-launched website – oilspillinfo.org – that includes information, graphics, animations and other resources for industry members as well as the general public
Posted January 3, 2013
Kevin Bullis, MIT Technology Review’s senior editor for energy, has a piece noting that the most significant advances in the energy field the past year resulted from surging natural gas and oil production from shale via hydraulic fracturing – an impact Bullis says is unlikely to be unsurpassed by other energy sectors in the near future:
Posted March 13, 2012
Opponents of increased domestic oil production like to portray the U.S. as being helpless in the face of worldwide events. This argument sometimes takes this form:
… with only 2% of the world’s oil reserves, we can’t just drill our way to lower gas prices – not when consume 20% of the world’s oil.
Jane Van Ryan
Posted July 29, 2010