Posted October 4, 2013
Two charts and some incredible, bordering on the unbelievable, good news for America’s energy present and future, as well as our security in the decades to come.
First, a familiar chart below from the U.S. Energy Information Administration (EIA) Annual Energy Outlook for 2013. It shows that our wonderful, modern economy – which makes us strong as a nation while providing opportunity for individuals and families to grow and prosper – is primarily fueled by oil and natural gas (62 percent) and will be in the foreseeable future. EIA projects that oil and natural gas will supply 60 percent of our energy in 2040 – reliable, abundant fuels that make our livesmore comfortable, healthier and mobile.
Posted September 18, 2013
Oil and natural gas development from shale is creating jobs and building the economy, providing America with a distinct competitive advantage in the world, API Chief Economist John Felmy told the National Association of Energy Officials this week in Denver. Felmy:
“The oil and natural gas industry has strengthened the U.S. economy by creating jobs, increasing household wealth, and securing America's future. If Congress and the administration are willing to support America’s domestic energy production, oil and natural gas are poised to fuel an economic renaissance."
Posted September 11, 2013
Posted September 3, 2013
Posted August 22, 2013
National Journal has a couple of interesting offerings this week – an article exploring why Americans don’t seem to care what scientists think about climate, and its Energy Experts Blog question of the week asking what Americans think about energy and climate policy. (API President and CEO Jack Gerard’s response, here.)
A simple observation is that while Americans do think about climate and the role policy could play in affecting climate, they think about other things more.
Posted August 14, 2013
Posted July 26, 2013
Posted July 19, 2013
Some important fact-telling about the president's proposals to raise energy taxes and why there's a better way to raise revenue for government while also increasing domestic oil and natural gas production.
Posted July 18, 2013
The history of modern crude oil prices includes a number of instances where historical events have accompanied dramatic price shifts. Simply: Events that impact or could impact supply affect the global crude oil market. And, because the cost of crude is the main driver of gasoline prices – currently about 66 percent
Posted July 11, 2013
From time to time, a few politicians get the not-so-bright idea to try to repeal the tax deduction for intangible drilling cost (IDCs). A new study out today from Wood Mackenzie shows what would happen if this cost recovery measure was repealed effective January 1, 2014.
During a conference call with reporters, API’s director of tax and accounting policy Stephen Comstock noted that IDC expenses including wages, fuel, and hauling costs typically represent 70 to 90 percent of the cost of a completed well. Comstock: