The People of America's Oil and Natural Gas Indusry

Energy Tomorrow Blog

access  government-revenue  royalties  tax-revenue 

Mark Green

Mark Green
Posted September 11, 2013

There are a number of good reasons to continue developing America’s vast reserves of unconventional oil and natural gas, according to the latest IHS study: 3.3 million jobs that could be supported by 2020, more than $468 billion in annual contributions to GDP, a rise in individual household disposable income of more than $3,500 by 2025 (up from $1,200 per household in 2012). Here’s more good news, especially for federal and state officials dealing with tight budgets.

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jobs  economy  access 

Mark Green

Mark Green
Posted September 3, 2013

It’s good to see a pair of senior White House officials pointing to increases in domestic oil and natural gas production as key factors in an improving U.S. economy. On the White House Blog, Gene Sperling, director of the National Economic Council, and Jason Furman, chairman of the Council of Economic Advisors, write about last week’s upward revision in second-quarter GDP from 1.7 percent to 2.5 percent.

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jobs  access  economic-growth 

Mark Green

Mark Green
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.

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jobs  jobs-and-economy  access  oil-and-natural-gas 

Mark Green

Mark Green
Posted August 14, 2013

The U.S. Energy Information Administration reports that oil and natural gas industry employment increased more than 162,000 jobs from the start of 2007 through the end of 2012 – a 40 percent surge. Yeah, that’s a big number. Here’s how big: EIA says total U.S. private sector job growth over the same period was just 1 percent. Hello, White House, jobs calling!

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jobs  economy  access  hydraullic-fracturing  keystone-xl-pipeline 

Mark Green

Mark Green
Posted July 26, 2013

President Obama gave another speech on jobs and economic growth this week in Illinois, sounding some themes he has touched on in the past, which we’ve noted here and here.  Generally, the president is right that rekindling the American Dream depends largely on creating the opportunity for people to work in secure, well-paying jobs.

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access  taxes  tax-revenues  jobs 

Mark Green

Mark Green
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. 

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access  keystone-xl  crude-oil-prices  gasoline-prices  regulation 

Mark Green

Mark Green
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

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energy-101  jobs  jobs-and-economy  security-and-access  access  taxes 

Mary Leshper

Mary Schaper
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:

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job-creation  energy-101  taxes  access 

Mark Green

Mark Green
Posted July 2, 2013

A post on The Hill’s Congress Blog by the Information Technology and Innovation Foundation’s Matthew Stepp and Megan Nicholson caught our eye:

 “… we suggest Washington policymakers raise at least $1 billion per year in new revenue from increased fees on oil and gas drilling, to be invested in breakthrough clean energy research at the Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E).

 Now, we’re used to folks wanting to increase taxes and other fees from oil and natural gas to pay for their pet projects. But instead of “increased fees” maybe Washington policymakers should just let us do our jobs. The authors note:

 “According to the Department of the Interior, oil and gas drilling revenue from federal lands increased 56 percent since 2000, averaging $11 billion per year.”

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energy-101  security-and-access  access  energy-information-administration 

Mark Green

Mark Green
Posted June 18, 2013

Great question during the U.S. Energy Information Administration’s annual energy conference this week – paraphrasing: Given the technologies, the innovation and risk-taking that mark today’s oil and natural gas industry, what‘s the ceiling for oil and gas development over the next few decades? The U.S. Geological Survey’s Donald Gautier took a crack at it:

“Every time I look at world oil or gas resources, I start adding things up, and I end up with enormous numbers. It just seems like an unavoidable fact, and the issue is about human activities and the contraptions they’re using for getting this out. There is certainly no shortage of molecules out there.”

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