Posted April 11, 2013
Nice video below on the “downstream” folks of America’s oil and natural gas industry – the people who run refineries and deliver petroleum products across the U.S.
As the video says, these highly trained workers are the heart of the oil and natural gas industry.
They work in refineries, which support 540,000 good-paying jobs and contribute $268 billion to U.S. GDP, making fuels that literally run our economy and make modern mobility an afterthought for most of us.
Posted April 10, 2013
AEI Ideas – Economic Fact of the Day
According to new Bureau of Labor Statistics data, Midland, Texas, has the lowest metro jobless rate in the U.S. at 3.2 percent. What’s different about Midland, asks blogger Mark J. Perry. The town is in the heart of the Permian Basin oil field’s surging shale production – thanks to hydraulic fracturing.
Associated Press – Energy Secretary Nominee Backs Natural Gas ‘Revolution’
The AP recaps the nomination hearing for Ernest Moniz. During the hearing, Moniz noted the “stunning increase in domestic natural gas production” that has led to “reduced carbon emissions and a dramatic expansion of manufacturing and job creation.”
Posted April 5, 2013
Reasons why the oil and natural gas industry talks about a regulatory “tsunami” coming down from EPA:
- A newly proposed Tier 3 rule to further lower sulfur content in gasoline – that would have “very small” additional environmental benefit, according to a recent study. At the same time, it could increase the manufacturing cost of gasoline by up to 9 cents per gallon. (More on Tier 3 below.)
- Increases in the federal ethanol mandate under the Renewable Fuel Standard – which could add to the manufacturing cost of gasoline by about 30 percent by 2015, according to a study by NERA Economic Consulting. (Posts on that here, here, here and here.)
- A potential vapor pressure reduction requirement that could increase refinery costs.
- An expected Refinery Sector Rule, new ozone requirements and greenhouse gas controls for refineries.
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