The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

american-energy  global-energy  global-markets  economy  fracking  new-york  jobs  keystone-xl-pipeline  regulations 

Mary Leshper

Mary Schaper
Posted December 22, 2014

Wall Street Journal: In early October, Saudi Arabia’s representative to OPEC surprised attendees at a New York seminar by revealing his government was content to let global energy prices slide. Nasser al-Dossary ’s message broke from decades of Saudi orthodoxy that sought to keep prices high by limiting global oil production, said people familiar with the session. That set the stage for Saudi Arabia’s oil mandarins to send crude prices tumbling late last month after persuading other members of the Organization of the Petroleum Exporting Countries to keep production steady.

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energy-security  economy  american-energy  jobs  exports  keystone-xl-pipeline 

Mary Leshper

Mary Schaper
Posted December 17, 2014

San Antonio Express-News: Gasoline prices are low, U.S. oil production is growing and OPEC is widening discounts for oil. Congratulations America, this is what energy security looks like. Every U.S. president since Richard Nixon has called for energy security by either producing more, using less or switching fuel sources. Over the past 20 years, we’ve done all three, while encouraging an international market where no single actor can monopolize supply. “The thing about energy security is that you don’t want bad people overseas to be able to hurt you by suddenly changing the oil market,” said Eugene Gholz, an associate professor at the University of Texas’ LBJ School of Public Affairs. “You are secure if you are protected from shocks in supply, especially from politically induced shocks.”

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economy  jobs  american-energy  fracking  lng-exports  exports 

Mary Leshper

Mary Schaper
Posted December 16, 2014

EIA Today in Energy: The average U.S. household is expected to spend about $550 less on gasoline in 2015 compared with 2014, as annual motor fuel expenditures are on track to fall to their lowest level in 11 years. Lower fuel expenditures are attributable to a combination of falling retail gasoline prices and more fuel-efficient cars and trucks that reduce the number of gallons used to travel a given distance. Household gasoline costs are forecast to average $1,962 next year, assuming that EIA's price forecast, which is highly uncertain, is realized. Should the forecast be realized, motor fuel expenditures (gasoline and motor oil) in 2015 would be below $2,000 for the first time since 2009, according to EIA's December 2014 Short-Term Energy Outlook(STEO).

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economy  jobs  american-energy  fracking  lng-exports  exports 

Mary Leshper

Mary Schaper
Posted December 15, 2014

Penn Live (Raymond Keating): At this weekend's annual Pennsylvania Society Holiday Dinner in New York City, I suspect energy policy will be a frequent topic of discussion — as it should rightfully be. From Benjamin Franklin's first experiments with electricity in Philadelphia to the energy revolution taking place in the Marcellus Shale natural gas play, the Keystone State has led the way in developing resources to the benefit of all Pennsylvanians and the entire nation.

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american-energy  economy  growth  jobs  fracking  keystone-xl-pipeline 

Mary Leshper

Mary Schaper
Posted December 10, 2014

Reuters: A surge of oil and gas production will drive the U.S. economy 1 percent higher in 2040 than it would have otherwise grown, and energy exports will only stoke the expansion, an independent study on energy policy concluded on Tuesday.

New drilling technologies such as 'fracking' have unlocked an abundance of fossil fuels from shale deposits and the bounty will both jolt the economy and increase tax receipts, according to the study from the Congressional Budget Office.

Officials estimate "real (inflation-adjusted) GDP product will be about two-thirds of 1 percent higher in 2020 and about 1 percent higher in 2040 than it would have been without the development of shale resources," the report finds.

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american-energy  oil-and-natural-gas-production  shale-energy  hydraulic-fracturing  horizontal-drilling  fracking  crude-oil  exports  gasoline-prices 

Mark Green

Mark Green
Posted November 27, 2014

Happy Thanksgiving everybody.

When it comes to energy there’s much for which Americans can give thanks.

We have plentiful and accessible reserves of oil and natural gas that fuel healthy, mobile, modern lifestyles.

We enjoy safe and secure crude oil imports from Canada, our neighbor and ally and No. 1 source of imported oil.

Our country is served by a vibrant, modern industry – one that’s second to none in the use of safe, hydraulic fracturing and horizontal drilling, offshore development and environmental awareness.

America keeps running thanks to a vast pipeline network and the world’s biggest, most-efficient refineries. And there’s more.

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energy-security  american-energy  economy  jobs  fracking  regulation  keystone-xl-pipeline 

Mary Leshper

Mary Schaper
Posted November 26, 2014

EIA Today in Energy Blog: U.S. retail regular-grade gasoline prices continue to decline, averaging $2.82 per gallon (gal) as of November 24. This average is 47 cents lower than a year ago, and the lowest price heading into a Thanksgiving holiday since 2009.

 

Traditionally, the Thanksgiving holiday is one of the most traveled times of the year in the United States, and much of that travel is by car. AAA estimates that during this Thanksgiving holiday weekend (November 26-30), 41.3 million people in the United States will travel more than 50 miles from home by car. This level of travel, 4.3% higher than the same time last year, is the highest number of travelers by car for Thanksgiving in seven years and the third highest since AAA began publishing the data in 2000.

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fracking  american-energy  economy  jobs 

Mary Leshper

Mary Schaper
Posted November 25, 2014

CNBC: America's unexpected transformation into the world's biggest natural gas producer and one of the globe's largest oil producers will give the U.S. more geopolitical clout on the world stage—including in key relationships with China, Russia and the Middle East.

 

By 2020, the U.S. is likely to be energy independent, along with Canada, its biggest import and export partner. Add to that a new boom expected from a reforming energy industry in Mexico, and North America will more than hold its own as a powerhouse in the global energy market.

 

The ripple, however, will be increasingly felt across the world. In the next several years, the European Union could be importing U.S. gas—and possibly even oil, if current laws change—lessening Russia's stranglehold on the European economy.

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american-energy  economy  energy-security  jobs  exports  crude  lng34  fracking 

Mary Leshper

Mary Schaper
Posted November 24, 2014

Wall Street Journal (Jason Bordoff): It’s a whole new oil world for the U.S.

After decades of declining domestic oil production, the country is in the middle of an unexpected boom. Driven by new technology that reaches previously inaccessible reserves, production has soared by millions of barrels a day. This surge has been a key factor driving oil prices down.

So, should U.S. oil companies be allowed to sell that oil overseas?

Because of a restriction dating back to the oil scares of the 1970s, producers for the most part can’t export their oil. The export ban was part of a series of laws passed to ease supply concerns and prevent U.S. producers from skirting price controls by selling crude into the world market at higher prices.

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economy  american-energy  jobs  energy  keystone-xl-pipeline  exports  fracking  lng-exports 

Mary Leshper

Mary Schaper
Posted November 21, 2014

USA Today (Manhattan Institute’s Mark Mills): When the newly elected Congress convenes in January, energy will be a priority. In fact energy is the "foundation" action item according to the just-released roadmap from Speaker of the House John Boehner. So this is a particularly good time to map out just how different the energy world is today, and will be in the future.

 

Four decades ago, when America's extant energy policy paradigm was forged, the U.S. was the world's fastest growing major energy user in an environment of resource dependency and depletion. The facts have since flipped: America is now the fastest growing energy producer, while nearly all net new demand takes place elsewhere.

 

In this context, consider the implications for America, and the world, of five key numbers.

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