Posted September 25, 2014
Supply matters. According to U.S. Energy Information Administration (EIA) chief Adam Sieminski, crude oil could cost at least $150 a barrel today because of supply disruptions in the Middle East and North Africa – if not for rising U.S. crude production.
Sieminski told the North Dakota Petroleum Council’s annual meeting that crude from the Bakken, Permian and Eagle Ford shale plays and others around the country has spiked in the past decade to more than 4 million barrels per day – enough to make up for outages in crude production elsewhere. Sieminski:
“If we did not have the growth in North Dakota, in the Eagle Ford and the Permian, oil could be $150 (per barrel). There is a long list of countries with petroleum outages that add up to about 3 million barrels per day.”
So, let’s rephrase things a bit: Clearly, U.S. production, adding to global supply, matters. A lot.
Posted September 23, 2014
New analysis from Columbia University says exporting U.S. liquefied natural gas (LNG) will increase global supply and ultimately help counter Russia’s attempts to leverage its natural gas customers in Europe and elsewhere.
Co-authors Jason Bordoff and Trevor Houser write that even before America starts exporting significant volumes of LNG, our domestic shale energy surge is having an effect abroad.
Posted September 15, 2014
(Wall Street Journal): Skeptics of the U.S. energy boom say it can't last much longer because it requires drilling an ever-increasing number of wells.
But the boom already has lasted longer than anyone would have imagined just a decade ago and has more room to run. That's because oil and natural-gas wells have become more productive—an unrecognized but potent trend that should keep the fuels flowing.
Posted August 5, 2014
A couple of snapshots of America’s shale energy boom, with a h/t to the U.S. Energy Information Administration.
First, Marcellus Shale natural gas production topped 15 billion cubic feet per day (bcf/d) through July, a first. EIA reports that the Marcellus accounts for 40 percent of U.S. shale gas production. Output has grown to its current level from 2 bcf/d in 2010.
Posted July 3, 2014
Happy Fourth of July, America!
Celebrating Independence Day takes many forms – cookouts, fireworks, community parades, family gatherings and more. It’s also celebrating the uniqueness of America, founded on the notion that all are deserving of “Life, Liberty and the pursuit of Happiness …”
This being an energy blog, let’s connect energy and the elements enshrined in the Declaration. Many things combine to produce and protect our liberty, our freedom. Secure energy is one of them, and America’s energy revolution, built on surging production of domestic oil and natural gas, is making energy security a reality.
Posted July 1, 2014
The Christian Science Monitor: Although North Dakota, Texas, and the Gulf of Mexico are known for producing much of the US's oil, other states are becoming bigger producers. Alaska and California are two states that are gaining footing in the oil industry.
The US has succeeded in lifting its oil production to over 8 million barrels per day, the highest levels in decades. But where exactly is all that oil coming from?
The answer for the last several years has been the Bakken field in North Dakota and the Eagle Ford in Texas. Those two regions are principally responsible for the surge in oil production.
But in April 2014, North Dakota surpassed the 1 million barrel per day mark – a milestone for a state that was producing fewer than 200,000 barrels per day just five years ago.
Posted June 24, 2014
Thanks to the Utica Shale, Ohio is emerging as a key energy state. This post features a photo essay on the Energy From Shale website, showing some of the scenes from the heart of the Utica – where jobs are being created and whole communities are being reinvigorated.
In Ohio as in other shale energy states, advanced hydraulic fracturing and horizontal drilling is unlocking vast reserves of oil and natural gas. It’s a revolution that’s the main reason the U.S. is now the world’s leading natural gas producer and could become the world’s leading oil producer by next year.
Posted June 17, 2014
Bloomberg: North America’s dominance of global exports of refined fuels will expand to unprecedented levels by 2019 as the shale revolution makes U.S. refineries more competitive, the International Energy Agency said.
The continent will become a “titan of unprecedented proportions” and its oil refineries will export about 3.5 million barrels a day by the end of the decade, the Paris-based adviser to 29 oil-consuming nations said in a report today. North America’s imports of crude will be 2.6 million.
“Less than ten years ago, the United States was the world’s largest importer of refined products,” the IEA said in its Medium-Term Oil Market Report, which forecasts energy-market trends. “Today it has become the world’s largest liquids producer, ahead of Saudi Arabia and Russia, as well as its largest product exporter.”
Posted June 11, 2014
Fuel Fix.com: U.S. natural gas output will reach 73 billion cubic feet a day for the first time this year as new pipelines tap into shale supplies stranded in the Marcellus formation in the Northeast, a government report showed.
Marketed gas output in the lower 48 states will increase 4 percent from 2013, setting a record for the fourth straight year, according to the U.S. Energy Information Administration’s Short-Term Energy Outlook, released Tuesday in Washington. The production estimate was raised from 72.26 billion in last month’s report as “several new projects to support Marcellus production have either recently come on line or will begin operations later this year,” the government said.
Posted June 5, 2014
A new study details the way America’s unconventional energy revolution – oil and natural gas safely developed from shale and other tight-rock formations with advanced hydraulic fracturing and horizontal drilling – is benefiting Americans where they live.
The new analysis by IHS shows that electricity and natural gas cost savings from shale energy is, in turn, saving billions of dollars for the nation’s school districts and state and local governments.