Posted September 30, 2015
America’s energy revolution means … a United States that’s more energy self-sufficient – less dependent on others, more secure in the world and better positioned to help friends abroad; economic growth and job creation – and with the right policy choices, a golden opportunity to secure American prosperity well into the future; and a stronger U.S. trading posture that, with energy exports, could benefit consumers
Let’s look at some charts that illustrate this American energy renaissance – which is based on the surge in domestic production that has accompanied the growth of safe, advanced hydraulic fracturing and horizontal drilling since the mid-2000s.
Posted July 22, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with New Jersey. Yesterday’s post looked at Texas and the series began with Virginia on June 29. All information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information across the country will be populated on this map as the series continues.As we can see with Texas, the energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added
Posted July 17, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Michigan. We started our focus on the state level with Virginia on June 29 and continued this week with Wisconsin, Connecticut, Delaware and South Carolina. The energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.
Information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information will be populated on this map as the series continues.
Posted July 2, 2015
A few months ago API President and CEO Jack Gerard explained why America is experiencing an energy revolution:
“We got to this era of energy abundance and global energy leadership because of the entrepreneurial spirit of the private sector, the hard work of the American worker and the unique system of private property and individual rights of the American marketplace.”
Posted July 2, 2015
Today we look at New Mexico, continuing our series of posts that highlight the economic and jobs impact of energy in each of the 50 states. We started with Virginia, then Ohio, and Colorado. The energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.
The topline numbers: 105,600 jobs supported statewide; according to PwC; $11 billion added to the state economy; $5.3 contributed to the state’s labor income. All are significant drivers for the state’s economy.
Posted June 26, 2015
Forbes (Clemente) – The short answer to the question posed is … a lot. Or at least way more than many groups and people out there want you to believe. Today, the world is swimming in oil, and prices have been sliced in half over the past year. “Peak oil” theory for production is predicated on the work of legendary geologist M.King Hubbert, who in 1956 employed his now famous/infamous “Hubbert curve” to predict U.S. petroleum production would peak in 1970. For many years he appeared to be correct, but the “shale revolution” is on the verge of proving him premature.
False pessimistic predictions regarding future oil production dates back to the beginning of the modern oil era in the mid-1850s, and can quickly ensnare the best experts with the most resources available. To illustrate, the Joint Operating Environment 2010 report (“the JOE report”) from the U.S. Joint Forces Command, the leader for the transformation of U.S. military capabilities from 1999-2011, projected a 10 million b/d global supply shortfall for 2015. Now, just five years later, we have a 2-3 million b/d surplus.
Posted June 17, 2015
The Hill – A new Republican bill introduced Tuesday would completely repeal the federal mandate to blend ethanol into the nation’s gasoline supply.
Sen. Bill Cassidy’s (R-La.) legislation would completely do away with the renewable fuel standard, which first took effect in 2005 and now requires increasing levels of ethanol and biodiesel to be put into traditional fossil fuels.
The mandate invites frequent criticism from Republicans, the oil industry and sectors that complain the demand it creates for corn ethanol increases agricultural prices.
“Workers, refiners, producers, farmers and ranchers across the country are affected by the renewable fuel standard,” Cassidy said in a statement. “More mandates mean less jobs. It means families are paying more for gas and groceries.”
Posted June 11, 2015
Nowhere in the United States is there more to learn from EPA’s recent water/fracking study than in the state of New York.
Six months ago Gov. Andrew Cuomo banned hydraulic fracturing as too hazardous. Though the Cuomo administration conducted no original research of its own, the governor said no to fracking, no to jobs and economic growth – especially in the state’s struggling Southern Tier. He all but extinguished the hopes of many upstaters for a home-grown economic miracle – like the one occurring next door in Pennsylvania, thanks to fracking – one that would help save family farms, let children and grandchildren live and prosper where they were raised and help ensure economic security for thousands.
Yet, EPA’s five-year, multi-million-dollar study says the governor’s concerns are basically baseless, that safe hydraulic fracturing doesn’t threaten the nation’s drinking water.
Posted June 11, 2015
NPR – There's a serious problem in the American economy: Big corporations are doing well, but real household income for average Americans has been falling over the past decade — down 9 percent, according to census data.
"That's not good for America," says Harvard economist Michael Porter. "That's not good for America's standard of living. That's not good for our ultimate vitality as a nation."
That's why Porter's excited about the deep reserves of natural gas and oil that have been made accessible by hydraulic fracturing technology, or fracking — a boon he examines in detail in a new report.
"It is a game changer," Porter says. "We have estimated that already, this is generating a substantial part of our GDP in America. It's at least as big as the state of Ohio. We've added a whole new major state, top-10 state, to our economy."
Posted June 5, 2015
New York Post – Six months after Gov. Andrew Cuomo banned fracking as too hazardous, the federal government released a report Thursday saying there’s no evidence the drilling practice has caused widespread harm to drinking water in the United States.
“Based on available scientific information, we found out that hydraulic fracturing activities in United States are carried out in a way that has not had widespread systemic impact on drinking-water resources,” said Thomas Burke, deputy assistant administrator of the Environmental Protection Agency.
“It is a new lens, so we can all make better decisions about public health.”
The report, issued in draft form after three years of study, cautioned that safeguards are still needed because some drinking water has been contaminated.
“The number of documented impacts on groundwater resources is relatively low,” Burke said.