Posted January 23, 2014
The U.S. energy revolution continues to reshape America’s energy outlook for the better. Thanks largely to shale energy reserves and advanced hydraulic fracturing and horizontal drilling, the U.S. Energy Information Administration’s 2014 Annual Energy Outlook estimates domestic oil production will approach 9.6 million barrels per day by 2016 – a level of output not seen since 1970. EIA also projects that U.S. liquid fuels net imports as a share of consumption will decline to about 25 percent in 2016, down from a high of 60 percent in 2005. Both are great pieces of news.
Posted July 23, 2013
Check in with a policy briefing on the Keystone XL’s national interest and security implications, hosted by The Hill:
Posted May 17, 2013
Increasing U.S. domestic production of oil matters. Energy Information Administration (EIA) chief Adam Sieminski had this analysis at an energy conference earlier this week (h/t Breaking Energy):
“There’s a fairly significant, long-standing relationship between spare production capacity in OPEC and what the pricing environment is for oil. So the 2 million barrel per day increase in U.S. oil production that surprisingly took place over the last five years has resulted in higher OPEC spare capacity, and undoubtedly, has been a factor in why Brent oil prices are $103-$104/bbl rather than $125-$130/bbl.”
Posted April 23, 2013
The Hill’s E2 Wire – Interior Chief Jewell on Fracking Rules: ‘One Size Doesn’t Fit All’
New Interior Secretary Sally Jewell hosted her first a public video chat this week. Jewell, a former oil and natural gas industry engineer, talked about her personal experiences with hydraulic fracturing, saying, “fracking as a technique has been around for decades. … I have performed the procedure myself very safely.”
Bloomberg reports that the nine geographic fields that make up the majority of Eagle Ford shale play in Texas yielded 471,258 barrels of crude a day in February, a 74 percent increase from last year.
Posted March 21, 2013
New from the U.S. Energy Information Administration:
Monthly crude oil production in the United States is expected to exceed the amount of U.S. crude oil imports later this year for the first time since February 1995. The gap between monthly U.S. crude oil production and imports is projected to be almost 2 million barrels per day (bbl/d) by the end of next year—according to EIA's March 2013 Short-Term Energy Outlook.
Posted February 22, 2013
Gasoline prices have been climbing. The U.S. Energy Information Administration (EIA) reports:
The average U.S. retail price for regular motor gasoline has risen 45 cents per gallon since the start of the year, reaching $3.75 per gallon on February 18. Between January 1 and February 19, the price of Brent crude, the waterborne light sweet crude grade that drives the wholesale price of gasoline sold in most U.S. regions, rose about $6 per barrel, or about 15 cents per gallon.
Posted January 2, 2013
Oil and natural gas, which has played a major role in the United States’ emergence as a modern super power, is ours in abundance – as noted in recent reports by the International Energy Agency, the U.S. Energy Administration and IHS Global Insight. With pro-development policies, American-made energy can help lead a new period of U.S. growth and advancement.
Posted December 28, 2012
Posted December 4, 2012
Posted August 8, 2012