Posted May 30, 2014
The Hill: The Department of Energy (DOE) released two reports Thursday with favorable conclusions about the environmental impacts of exporting liquefied natural gas (LNG).
The department said it is not “reasonably foreseeable” that there would be any domestic environmental impacts from the increased natural gas drilling and hydraulic fracturing, or fracking. And in Europe and Asia, the natural gas would have much lower greenhouse gas emissions than coal when used for power generation.
The DOE is publishing the reports to gather comments on them and eventually use them in determining whether individual LNG export applications are in the country’s interest. Neither report is required by law, the agency said.
The reports came the same day the DOE proposed a new, streamlined process for considering applications to export LNG to countries with which the United States does not have a free trade agreement.
Posted April 29, 2014
The vast majority of economists surveyed this month by The Associated Press say lifting restrictions on exports of oil and natural gas would help the economy even if it meant higher fuel prices for consumers.
More exports would encourage investment in oil and gas production and transport, create jobs, make oil and gas supplies more stable and reduce the U.S. trade deficit, they say.
Posted April 22, 2014
Forbes: Today is Earth Day, the annual celebration of Mother Earth and all she provides to us. So I just wanted to spend a few moments and words here urging you all to take time out of your busy days to thank Mother Earth for the following:
Posted April 9, 2014
Posted April 8, 2014
Posted March 31, 2014
A new study by ICF International makes the case for lifting trade restrictions that prevent the export of U.S. crude oil – consumer savings, job creation, domestic production growth and more:
- $5.8 billion in consumer savings a year, on average, between 2015 and 2035 due to falling costs of gasoline, heating oil and diesel fuel.
- Up to 300,000 additional jobs created in 2020, both due to higher oil production and U.S. consumers having more money to spend on goods and services.
- As much as a 500,000 barrels-per-day rise in domestic oil production in 2020.
- A $22 billion decrease in the U.S. trade deficit in 2020.
- Economic growth totaling as much as $38 billion in 2020, with an average GDP increase of up to $27 billion a year through 2035.
- An additional $15 billion to $17 billion invested in domestic exploration, development and production between 2015 and 2020.
- An increase of as much as $13.5 billion in federal, state and local government revenues in 2020.
Posted March 21, 2014
To Americans used to thinking of energy in terms of the Middle East, the names of the world's top producers of natural gas might come as a surprise.
No. 1 is the United States. No. 2 is Russia. Together they stand as the giants of gas production. What separates them is that the U.S. consumes its gas, while Russia has become the world's largest exporter — a key reason why President Vladimir Putin felt confident that he could seize Crimea from Ukraine and get away with it. Russia supplies 30% of Europe's gas needs, making it hard for European leaders to muster the resolve to resist.
The good news is that the West can turn the tables on Putin, freeing Europe from its dependency and in the process making Russia pay dearly. That can't be done fast enough to neuter the current crisis, nor will it come cheaply. But if Putin believes his actions will drive Europe toward energy independence, he'll have to think twice. Deprived of its biggest market, Russia's fragile, energy-based economy would erode, along with its power and Putin's stratospheric popularity.
Posted February 28, 2014
U.S. Will Meet Energy Needs by 2020, Citi Researcher Says
Forbes: By the end of this decade, the United States will produce all the energy it needs, the head of commodities research for Citigroup said in Chicago Thursday.
Edward L. Morse, managing director and global head of commodities for Citi, said the gas and oil boom will combine with improved efficiency to make the U.S. a net-zero importer of energy by 2020.
“I think that the chances are close to 100 percent that the U.S. will be supplying 100 percent of its energy requirements for power generation and transportation,” Morse told about 100 people at a Fairmont Hotel gathering sponsored by The Chicago Council on Global Affairs.
Posted February 24, 2014
Energy Trade is a Key Part of Overall U.S. Trade Flows
EIA Energy Today: Energy trade has long been a key component of overall U.S. trade flows. Recent developments in U.S. energy production, notably the rapid growth of tight oil and shale gas output, are leading to significant changes in the nation's energy trade flows. Another important factor is consumption trends, which reflect both increased efficiency of vehicles and other energy-using equipment, and structural changes in the economy. This article, which focuses on current energy trade in the context of overall trade flows, will be followed by several others in the coming days that consider the evolution of trade flows in major energy fuel categories since 2002.
As shown in the figure above, overall U.S. trade includes both goods and services but is dominated by goods. In 2013, as in other recent years, the United States was a net importer of goods and a net exporter of services. Energy accounted for 15% of gross U.S. goods imports in 2013, while energy exports, which have grown significantly in recent years, accounted for 7% of overall U.S. goods exports. Focusing on the net U.S. trade position, shown by the black line in the chart above, net energy imports account for nearly half of the total U.S. trade deficit in goods and services.
Posted February 7, 2014
The Shale Factor in U.S. National Security
Reuters (Dobriansky, Richardson and Warner): The boom in domestic shale oil and gas production has increased U.S. prosperity and economic competitiveness. But the potential for this to enhance our national security remains largely unrealized.
The shale surge has boosted production by 50 percent for oil and 20 percent for gas over the last five years. Yet our political leaders are only just beginning to explore how it can help further national strategic interests.
We led a major study at the Center for a New American Security in the last year, bringing together a nonpartisan panel to examine national security implications of the unconventional energy boom. We decided that outdated idealization of “energy independence” is preventing the administration and Congress from focusing on current energy vulnerabilities and figuring out how Washington should secure our economic and security interests.
Though the United States now imports less oil than it has for more than a dozen years, we should not distance ourselves from international oil markets by pursuing full energy self-sufficiency. The best way to advance energy security is to remain engaged internationally with major energy players.
Read more: http://reut.rs/1iyeOys