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 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 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
Posted September 20, 2013
U.S. Oil Output Exceeded Oil Imports Last Week by the Most Since Early 1997
AEI Carpe Diem Blog: In another milestone for America’s shale revolution, the amount of domestic crude oil produced last week at 7.82 million barrels per day (bpd) exceeded weekly net imports of 7.52 million bpd by 304,000 barrels, according to data released yesterday by the Energy Information Administration (see chart above). There have only been two weeks since early 1997 that US crude oil production exceeded weekly imports, once in May this year by 80,000 bpd and now last week by 304,000 bpd.
As the chart above shows, US oil imports exceeded US crude oil production by 5 million bpd throughout most of 2008 when imports averaged about 10 million bpd and domestic production was about 5 million bpd. By early 2012, domestic oil production increased to 6 million bpd, but was still about 3 million bpd below oil imports of 9 million.
Read more: http://bit.ly/1aRzldF
Posted September 6, 2013
U.S. Oil Production Reaches Highest Level in 24 Years
Fuel Fix Blog: U.S. oil production last week hit its highest level in nearly a quarter century, as companies seek to capitalize on high oil prices, according to federal data.
Domestic oil production hit 7.621 million barrels per day in the week ending Aug. 30, the U.S. Energy Information Administration said in its latest weekly update.
That surpassed the 7.609 million barrels per day production mark set the week prior and was the highest production total since October 1989, when production averaged 7.644 million barrels per day.
Read more: http://bit.ly/1ad7bcL
Posted June 19, 2013
Free Enterprise – Energizing Manufacturing
Current North American energy abundance is the result of innovation and private-sector investment, writes FE. “Government policies that restrict development or prevent the market from working effectively may reduce the benefits this energy competitive advantage offers to Americans and to our manufacturing industries.”
Project Syndicate – Frack to the Future
Harvard professor and former Clinton administration economic advisor Jeffrey Frankel argues the environmental benefits of increased natural gas use, noting that “one can virtually prove that shale gas is the major factor behind the fall in US emissions.”
Posted June 12, 2013
Fuel Fix Blog – U.S. Led World in Oil Growth in 2012
According to a new BP report, U.S. oil production growth, the largest in the country’s history, helped keep global crude prices from rising sharply. Shale development had the biggest impact on this increase in oil production.
Washington Times – U.S. Gains Global Competition as Shale Revolution Heats Up
While the U.S. has been “the dominant player in the shale revolution until now,” the newspaper cites new estimates showing that Russia and China have potential to rise in the global market by exploiting their own shale resources.
Posted June 12, 2013
BusinessInsider.com has an article disparaging oil and natural gas sector employment, as well as the industry’s ability to create new jobs:
… let's look at oil and gas mining. The industry really employs very few people. Less than 200K people are in the oil and gas extraction business. … And on a month over month basis, just 500 or so new jobs were created in May. … So while oil and gas is a big exciting story, it’s not directly a big source of new jobs.
Both points to the more than 6,000 people now working in direct industry jobs that were added from April to May of this year, according to the Bureau of Labor Statistics (BLS).
BusinessInsider.com’s piece is fairly shortsighted, failing to acknowledge what nearly every economist acknowledges – that a business sector’s real employment measure includes direct jobs but also supporting and associated jobs.
Posted May 29, 2013
Texas is killing it, reports the magazine’s website A new analysis of jobs recovered since the economic downturn finds that the state’s largest city stands apart as the most powerful job engine in the country – thanks to its ties with the energy industry.
CNN Opinion – Make Sure Fracking is Done Right
In a guest post, the Council On Foreign Relations’ Michael Levi writes that “people are right to insist that [hydraulic fracturing] is done safely, but they're wrong if they conclude that it can't be.”
Posted May 1, 2013
Texas Tribune – Shale Boom Has Major Impact on Texas' Budget
Increased shale development in Texas has helped business surge in the Lone Star State, providing jobs not just in the industry but across the service sectors. But the most significant effect may be seen in the revenue provided to the state, according to the paper.
Press Connects.com – New York Deserves a Fracking Chance
In a guest opinion piece, Dr. Charles Carpenter points out that as the debate over hydraulic fracturing continues in the Empire State, more than 800,000 New Yorkers are currently unemployed, and since 2001 at least 1.6 million people have left the state. That’s the highest number of any state in the country – but fracking could change that.