http://EnergyTomorrow.org Jack Gerard, API President and CEO, argues that now is not the time for energy legislation that could hurt the American economy. Jack explains that bills introduced in response to the Deepwater Horizon incident could harm U.S. job creation, economic growth, and energy security. For more information, visit http://EnergyTomorrow.org.
A new API analysis shows that administration’s moratorium (if continued indefinitely), or similar legislative proposals (which make the deepwater unavailable or uneconomic), would cost this country 175,000 jobs every year between now and 2035. Additionally, over the long term, it would reduce U.S. production of oil by 27 percent and increase our imports of oil by 19 percent.
Expanding natural gas development in the Marcellus Shale would produce additional jobs, generate increased government revenue and provide stable, reliable supplies to help secure the nation’s energy future.
On July 22, 2010, API hosted a conference call with 11 bloggers to discuss pressing energy issues following the Deepwater Horizon incident, including the drilling moratorium, the potential economic impact of new taxes being considered by Congress, oil spill liability issues, and new ethanol standards proposed by the EPA.
http://EnergyTomorrow.org American Petroleum Institute (API) Chief Economist Dr. John Felmy explains how healthy earnings from the oil and natural gas industry generate new jobs, revenue for federal and local governments, and help spur investments in new energy technologies. He also discusses the potential impacts of misguided policies currently being considered by Congress, pointing out that Congress should not repeat mistakes of the past. We should move beyond Washington rhetoric and focus on developing rational energy policies. To learn more, visit http://EnergyTomorrow.org.
http://EnergyTomorrow.org Timothy J. Considine, Ph.D. of Natural Resource Economics and author of a new study on natural gas production in the Marcellus Shale region, explains how a Pennsylvania severance tax could reduce capital inflows for developing natural gas production in the state. For more information, visit http://EnergyTomorrow.org.
http://EnergyTomorrow.org Based on his recent study, Timothy J. Considine, Ph.D. of Natural Resource Economics, forecasts the continuation of New York's moratorium on Marcellus natural gas development will cost the state valuable economic opportunities and future development of the even more promising Utica Shale region. For more information, visit http://EnergyTomorrow.org.
http://EnergyTomorrow.org Timothy J. Considine, Ph.D. of Natural Resource Economics, shares his new study on natural gas production in the Marcellus Shale region and explains how a high-development in this region would fuel energy security, job-creation and our economy over the next decade. For more information, visit http://EnergyTomorrow.org.
According to the study, “The Economic Impacts of the Marcellus Shale: Implications for New York, Pennsylvania, and West Virginia,” by Timothy J. Considine, Ph.D. of Natural Resource Economics, natural gas production in the Marcellus Shale region—if developed—could create 280,000 new American jobs and add $6 billion in new tax revenues to local, state and federal governments over the next decade.
Clean burning natural gas is critical to American manufacturing jobs, to farmers for fertilizer, to households for heating and cooking, to businesses for electricity and fuel for transportation needs, and to society to help address climate change concerns because of its low carbon-content. But getting to the natural gas isn’t always easy. That’s where hydraulic fracturing plays an important role in America’s energy supply. Hydraulic fracturing is a proven technology used safely for more than 60 years in more than a million wells. It uses water pressure to create fissures in deep underground shale formations that allow oil and natural gas to flow. In fact, hydraulic fracturing is so important that without it, we would lose 45 percent of domestic natural gas production and 17 percent of our oil production within five years.