The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

natural-gas-development  natural-gas-from-shale  fracking  hydraulic-fracturing  shale-benefits  liquefied-natural-gas  trade 

Mark Green

Mark Green
Posted December 19, 2013

More from the U.S. Energy Information Administration’s preview of its 2014 Annual Energy Outlook, released this week. EIA’s projections depict a United States gaining more control of its energy security with increased domestic oil and natural gas production. Let’s zero in on some of the things EIA says about natural gas.

First, domestic natural gas production is skyrocketing, thanks to output from shale.

Read More

energy-supply-and-demand  access  trade  electricity  oil-and-natural-gas-development 

Mark Green

Mark Green
Posted December 13, 2013

There’s much to mine from ExxonMobil’s 2014 energy outlook, but here’s a quick analysis: In a world of increasing energy demand, the future looks brightest for countries that have significant energy reserves, modern industries that can find and produce from those reserves and policies that allow them to be major players in the global marketplace. For the United States that would be check, check and … check back later.

ExxonMobil’s William Colton and Kenneth Cohen highlighted the annual report that looks to global energy demand and supply out to the year 2040. Key projections and charts:

Demand – The world’s energy demand is expected to increase 35 percent over 2010 levels by 2040. Most of the demand growth will come from the developing world. ExxonMobil projects flat demand growth in developed nations despite expanding economies due to technology and energy-use efficiencies.

Read More

american-energy  trade  deficit  jobs  economy  hydraulic-fracturing  fracking  regulations  lng-exports 

Mary Leshper

Mary Schaper
Posted December 4, 2013

A Pivotal Moment in U.S. Energy History

Global Energy Initiative (Jason Bordoff):  We are at a transformational moment in energy history. Just a few years ago, all energy projections forecast increased imports, increased scarcity, and increased natural gas prices. Today, we’ve shifted from scarcity to abundance. U.S. oil production has increased by 2.5 million barrels per day (B/D) since 2010. This year, the United States overtook Saudi Arabia as the largest producer of liquid fuels (including crude oil, natural gas, and biofuels) in the world. U.S. oil imports are at their lowest level in 25 years and are projected to continue declining. The natural gas outlook is even more striking. New geological surveys and production data continue to surprise to the upside. And multi-billion-dollar terminals proposed not long ago to import natural gas are being flipped to export instead.

This transformation is not only a U.S. story. New technologies mean that what were once challenging sources of oil and gas can now be tapped economically from the oil sands in Canada (and potentially Venezuela), the ultra-deepwater “presalt” off the coast of Brazil, and many other parts of the world. Iraq, parts of Africa, and elsewhere are poised for sharp increases in production.

Read more: http://bit.ly/1gk7ms9

Read More

lng-exports  natural-gas-benefits  job-creation  trade  regulation 

Mark Green

Mark Green
Posted November 14, 2013

Earlier this year an ICF International study found that exporting U.S. liquefied natural gas (LNG) would have dramatic national impacts on jobs, economic growth and revenue generation for government.  Now a second ICF study shows what the impact of LNG exports would look like on a state-by-state basis. They’re huge:

  • LNG exports could contribute as much as $10 billion to $31 billion per state to the economies of natural gas-producing states such as Texas, Louisiana and Pennsylvania by 2035.
  • Producing states could see employment gains as high as 60,000 to 155,000 jobs in 2035.
  • Non-producing states also will benefit, partly because of the demand for steel, cement, equipment and other goods used in natural gas development. ICF said states including Ohio, California, New York and Illinois will see gains to their economies as high as $2.6 billion to $5 billion per state in 2035.
  • In terms of jobs, large manufacturing states like California and Ohio will see gains of 30,000 to 38,000 in 2035, ICF says.

Read More

hydraulic-fracturing  economy  trade  colorado  california  keystone-xl 

Mary Leshper

Mary Schaper
Posted October 9, 2013

Fracking the U.S. Trade Deficit

Christian Science Monitor: The US is slowly chipping away at its trade deficit, which should create more jobs, more economic growth, less unemployment, and a smaller federal deficit.

 

And the boom in domestic energy production is a key factor behind that narrowing trade deficit Over the past decade, oil and gas production has surged at vast shale formations in Texas, North Dakota, Pennsylvania, and elsewhere across the US. That has led to a rise in exports of petroleum products and a reduction in the amount of oil and gas the US imports from abroad.

 

It's one benefit of the domestic hydraulic fracturing and horizontal drilling revolution that has stirred passion on all sides of the debate over America's energy future.

 

Read more: http://bit.ly/17XiSnK

Read More

jobs  lng-exports  trade 

Mark Green

Mark Green
Posted September 24, 2013

New Energy Secretary Ernest Moniz often is asked how quickly his department will consider applications to export liquefied natural gas (LNG) to non-free trade agreement nations that are pending before his agency. Department approval of an LNG export permit for Dominion’s Cove Point, Md., facility earlier this month probably won’t give Moniz a reprieve from such questions.

That’s because after approving four LNG export applications over the past two and a half years – including three so far this year – there’s some talk that the U.S. has entered an LNG export “sweet spot” – the point where some argue that the cumulative natural gas the approved facilities are authorized to export, about 6 billion cubic feet per day, wouldn’t significantly affect domestic prices. 

Read More

jobs  economic-growth  hydraulic-fracturing  trade 

Mary Leshper

Mary Schaper
Posted September 4, 2013

U.S. Energy Lifting Economy More Than Expected

USA Today: Newly found sources of domestic oil and natural gas are having an even bigger impact on the economy than first projected, adding more than $1,200 last year to the discretionary income of the average U.S. family, a new study says.

The explosion in domestic energy production now supports 1.2 million jobs, directly or indirectly, says consulting firm IHS, in a study released Wednesday. That number will grow to 3.3 million by 2020, and new energy's contribution to U.S. families' disposable incomes will hit $2,000 per household per year by 2015, said IHS.

Read more: http://usat.ly/13eFEFC

Read More

ethanol  exports  fracking  imports  renewable-fuel-standard  trade  regulations  blm34  deficit  oil34 

Mary Leshper

Mary Schaper
Posted June 6, 2013

Bloomberg Crude Output Exceeds Imports for First Time in 16 Years

The surge in U.S. shale development through hydraulic fracturing and horizontal drilling in North Dakota, Oklahoma and Texas has boosted domestic oil production – 7.3 million barrels a day  last week alone – to the highest level since 1986, according to the U.S. Energy Information Administration.

Fuel Fix BlogFeds Give More Time To Study Proposed Drilling Rule

Last month API asked for an additional 90 days to study  BLM’s proposed rule governing hydraulic fracturing. Today, Interior Secretary Sally Jewell said that she would allow an additional 60 days for stakeholders to review the proposed regulations.

Read More

exports  fracking  hydraulic-fracturing  lng34  natural-gas  new-york  trade 

Mary Leshper

Mary Schaper
Posted May 15, 2013

Washington ExaminerFracking Could Create New Wealth for New York

In a guest column, former Department of Labor Chief Economist Diana Furchtgott-Roth discusses the opportunities hydraulic fracturing could bring to New York state. “Using the Pennsylvania data to project fracking's effect on New York counties, I find that the incomes of those who live in the 28 New York counties above the Marcellus Shale have the potential to expand by as much as 15 percent over the next four years -- if the state's moratorium is lifted.”

National JournalNatural Gas Exports Loom Large Over Washington

NJ’s Amy Harder takes a look at the liquefied natural gas debate after a visit to Dominion’s Cove Point, Md., facility – a former import terminal waiting for federal approval to add  export capabilities.

Read More

trade  lng34  exports 

Mark Green

Mark Green
Posted February 22, 2013

A bipartisan group of U.S. senators has written Energy Secretary Steven Chu, urging the government to support liquefied natural gas (LNG) exports for the good of our economy and to improve our trade balance. Key points in their reasoning:

  • Increasing demand for U.S. natural gas will be easily met by increases in production. The letter cites U.S. Energy Information Administration projections that a 20 percent increase in domestic natural gas demand between now and 2040 will be fully offset by a 40 percent increase in production.
  • Domestic production will be stimulated if producers have greater access to U.S. natural gas reserves onshore and offshore – as well as greater access to “consumption markets.” This will bring job creation, economic growth and generate an in-flow of revenue from abroad.
  • Artificial restraints on the marketing of U.S. natural gas tend to inhibit future investment in development.

Read More