Posted January 22, 2015
The Bakken Magazine: “Do not pass Go. Do not collect $200.”
This is the dreaded phrase on the “Go to Jail Card” that you’ve likely drawn, or at least heard of, when playing the game of Monopoly. Drawing this card is an all-around bummer. You lose a chance at scooping up valuable property before others do, you don’t get to collect $200 that you might need to purchase property, and it increases the chance that you lose the game. But at least it’s just a game. Right?
Wrong. What many people probably don’t realize is that we’re in a real-life game similar to Monopoly, but this one is focused on the global oil market, not property. And, it just so happens that we’re stuck holding the “Do not pass Go” card.
Posted January 22, 2015
Small business owner Laura Ross in Washington, Pa., has a stake in safe energy development and environmental stewardship.
In the new television ad below, Ross talks about how her café and other businesses in town have seen an economic boost because of nearby energy development. But she’s also mindful of the environment, because her business carries items produced by local farms. The fact that hydraulic fracturing has been done safely for more than 65 years is reassuring to her and her patrons.
Posted January 21, 2015
In a new API television ad, energy industry geologist Barbara Pickup calls the forest trails of Colorado her “streets” and the towering trees “my skyscrapers.” The Dillon, Colo., resident says she is for protecting the environment – but also for safe energy development, noting that hydraulic fracturing has been around for 65 years:
“Fracking will help secure America’s energy future, and I want to make sure we’re protecting the land and water, too. There has to be a balance.”
Posted January 20, 2015
API’s new national television ad underscores the ramifications of the United States as the world’s No. 1 producer of natural gas and its likely ascendance this year to No. 1 status in oil production. America is the world’s newest energy superpower.
As the ad notes, the domestic energy revolution that has elevated the U.S. the energy superpower status is because of safe, advanced hydraulic fracturing and horizontal drilling, which have unlocked vast oil and natural gas reserves held in shale and other tight-rock formations.
Posted January 5, 2015
We’ve got an energy revolution taking place in this country, but can we keep it going – and even better, can we increase it?
These and more will be the focus of the State of American Energy event on Tuesday from Washington D.C. You can watch the event live here beginning at 12:15 p.m. Eastern. Join in the conversation on Twitter using the hashtag #SOAE2015.
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Posted December 31, 2014
So long, 2014. From an energy standpoint, you’ll be missed. Let’s count the ways:
Surging domestic oil and natural gas production – largely thanks to safe hydraulic fracturing and horizontal drilling – is driving an American energy revolution that’s creating jobs here at home and greater security for the United States in the world.
It’s a revolution with macro-economic and geopolitical impacts, for sure. But it’s also a revolution that’s benefit virtually every American.
Posted December 31, 2014
Business Day: For years, Organisation of Petroleum Exporting Countries (OPEC) pulled the strings set the price of oil and controlled the supply. After dictating the course of oil prices for more than 50 years, OPEC is finding its influence diminished.
Right now, OPEC represents about 40 percent of global daily production. The organization still has a say in what the energy market looks like. But for OPEC, oil can no longer be used as either a weapon or as a lever. There is simply too much production arising beyond the control of OPEC.
For 2015, US will emerge as dominant player. OPEC member countries are gradually losing the largest energy market in the world and the irony is that they will soon be competing for the markets that used to be theirs for the taking. Projections from recent happenings reveal that in 2015 the US will start dictating to the market. With the advent in 2015 of large US exports of liquefied natural gas (LNG), the effect is even larger, and with it comes the hastening of OPEC’s decline.
Posted December 30, 2014
UPI: House Republicans will work to create the "architecture of abundance" needed to take advantage of North American energy leadership, a lawmaker said.
The House Energy and Commerce Committee published a 105-page strategy document meant to highlight the agenda of the incoming Republican-led Congress. It says federal policies are ill-suited to develop the infrastructure needed to take advantage of the oil and gas production boost in the United States.
"Creating this architecture of abundance is slowed at every step by archaic federal rules that can cause years of delays and even block some pipeline and power line projects outright," the paper reads.
Rep. Fred Upton, the committee's chairman, said the new Congress would work to advance its blueprint when it comes into power in January.
Posted December 29, 2014
The Week: One of the biggest stories of 2014 has been the astonishing drop in global oil prices. The price of the benchmark Brent crude went from over $100 per barrel at the beginning of the year to the $60 range as of this writing.
It's worth noting how massive and completely unexpected this price drop has been.
And it's worth noting how good it is for the U.S. economy. The price of oil is one of the biggest drags on consumer demand, the largest driver of the economy.
And to what do we owe this miraculous event?
In a word: fracking.
Posted December 24, 2014
The gift that is American energy is seen in some key numbers: domestic crude oil production reaching more than 9 million barrels per day last month, the highest level in more than two decades, according to the U.S. Energy Information Administration (EIA); total U.S. net imports of energy as a share of energy consumption falling to their lowest level in nearly 30 years during the first six months of this year; gasoline prices dropping to an average of $2.47 per gallon last week, their lowest point since May 2009, according to the Lundberg Survey Inc.
The first two numbers might not fully register with a lot of Americans. We’ll come back to them. The last one, gasoline prices, does so loudly.
Retail gasoline prices fell after crude oil prices dropped for the fourth straight week – a product of weaker-than-expected global demand and increasing production, which EIA says will save American households $550 next year, Bloomberg News reports. Trilby Lundberg, president of Lundberg Survey to Bloomberg:
“It is a dramatic boon to fuel consumers. (Gasoline) is a modest portion of our giant gross domestic product and yet it does have a pervasive and festive benefit to motorists.”
During this season of gift-giving and receiving, Americans should give thanks for the gifts of plentiful domestic oil and natural gas, modern technologies to harness them and an industry robust and innovative enough to bring the two together, resulting in surging, home-grown production. Indeed, the dramatic increase in U.S. oil production is the key addition to global supply that’s putting downward pressure on the cost of crude, the No. 1 factor in pump prices.