The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

analysis  oil-and-natural-gas-development  wood-mackenzie  regulation  economic-growth  income  vote4energy  american-petroleum-institute 

Mark Green

Mark Green
Posted June 26, 2015

More from the new Wood Mackenzie study comparing the effects on the U.S. energy picture from pro-development policies versus a regulatory-constrained path. We’ve looked at the implications for energy supplies. Today we’ll zero in on two very different scenarios affecting individual American households.

Once again, the study compared impacts on key areas, depending on the energy policy path our country chooses. The pro-development path includes increased access to oil and natural gas reserves, approaches to regulation and permitting that encourage accelerated energy production and export policies that allow U.S. oil and natural gas to reach global markets, stimulating domestic output. The constrained path would pretty much maintain the status quo on access, regulation and exports – costing the United States, as the study shows.

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shale-energy  marcellus-natural-gas  investments  income  hydraulic-fracturing  horizontal-drilling 

Mark Green

Mark Green
Posted October 15, 2014

Natural gas production in the Marcellus Shale continues to surge – and with it, industry spending on construction and maintenance, according to a new study.

The latest drilling productivity report from the U.S. Energy Information Administration (EIA) projects Marcellus natural gas output will hit 15,828 million cubic feet per day (mcf/d) or about 37.1 percent of production from the major U.S. shale plays. EIA expects Marcellus output will top 16,000 mcf/d in November.

The production gains are reflected in industry spending on workers in construction and maintenance from 2008 to 2014 – the subject of the new study by the Oil and Natural Gas Industry Labor-Management Committee. The study showed spending grew more than 60 percent between 2012 and 2013, reaching $5 billion, resulting in a 40 percent increase in jobs in eight trades (union and non-union members included). Another $6.5 billion already is committed for 2014, the study reports.

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economic-growth  kentucky  access  income 

Mark Green

Mark Green
Posted April 14, 2014

Much is written about the macro-economic effects of public policy, including energy policy. America’s oil and natural gas industry supports 9.8 million jobs – 5.6 percent of total U.S. employment – and contributes $1.2 trillion to national GDP, according to a study by PwC. But what about the state impacts? Over the next couple of weeks we’ll push out a series of posts focusing on selected states to examine energy’s more localize economic effects, as well as other energy-related issues.

Let’s start with Kentucky, where energy means jobs.

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income  jobs  taxes  lng-exports  hydraulic-fracturing 

Mary Leshper

Mary Schaper
Posted September 10, 2013

Fracking, the Poor and Adding to Americans’ Disposable Income

Wall Street Journal (editorial): Last week we reported on a study showing that the U.S. oil and natural gas revolution may be the country's best antipoverty program, and the evidence keeps coming. A new report from IHS Global Insight estimates that fracking added the equivalent of a cool $1,200 to real household disposable income on average in 2012.

Lower costs for raw materials were passed on to consumers via lower home heating and electricity bills and lower prices for other goods and services. Wages also increased from a surge in industrial activity. On present trend, IHS predicts that unconventional oil and gas will contribute more than $2,000 a year by 2015 and $3,500 by 2025.

Overall the industry lifted economic growth by $283 billion last year.

Read more (subscription publication): http://on.wsj.com/13GJtDS

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economy  jobs  income  unconventional-gas  unconventional-oil  hydraulic-fracturing 

Mark Green

Mark Green
Posted September 6, 2013

During a conference call with reporters to discuss IHS’ new report on the economic impacts of U.S. unconventional oil and natural gas development, IHS Vice President John Larson noted that while many of the report’s big numbers – including 3.3 million jobs that could be supported by 2020 and more than $468 billion in annual contributions to GDP – might be abstract to most Americans, the projected benefits to individual U.S. households from this energy activity are “real and tangible.”

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natural-gas  income  hydraulic-fracturing  regulations  fracking  keystone-xl 

Mary Leshper

Mary Schaper
Posted July 23, 2013

AEI Ideas, Carpe Diem Blog – North Dakota Sees Highest Level of Income Mobility in the U.S. Thanks to Bakken Shale

Blogger Mark J. Perry notes another  benefit of shale development in the Bakken: income mobility. Perry connects economic opportunity in the Bakken region with  a new study showing  a significant geographic correlation between a child’s chances of rising from the  the bottom  quintile by family income to the top  income quintile.

Reuters The Oil Boom's Foreign Policy Dividend

The domestic benefits of the surge in U.S. oil production are well documented, writes Reuters, but the geopolitical benefits are “less well appreciated.” Beginning in 2012, production in the U.S. and Canada grew by nearly 1.3 million barrels per day – outpacing global demand growth. “These developments were critical in allowing the United States to implement new, tougher sanctions in early 2012 that drove year-over-year Iranian crude exports down by nearly 15 percent in the first quarter alone.”

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