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Energy Tomorrow Blog

Energy's Inextricable Link to Renewal

economic recovery  oil and natural gas  demand 

Mark Green

Mark Green
Posted June 19, 2020

We’ve discussed the historic link between economic growth and energy – chiefly, natural gas and oil, America’s and the world’s leading energy sources. When the economy grows it boosts demand for energy. And when that energy is supplied, growth is enabled or powered. See this blog by API Chief Economist Dean Foreman, in which he describes data behind our confidence that natural gas and oil will be big participants in the nation’s economic recovery.

Indeed, the indicators of this linkage are visible in API’s June Monthly Statistical Report. Based on May data, the MSR records an increase in U.S. petroleum demand of 2.0 million barrels per day, with motor gasoline leading the way. It’s the largest such increase in nearly 45 years.

Americans are getting back to work, and as they do, they need fuel. Likewise, rising fuel demand reflects increased demand for transportation and delivery of goods and services. As our industry meets this demand, growth is enabled.

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Data: Industry Poised to Enable Economic Recovery

monthly-stats-report  economic recovery  oil and natural gas 

Dean Foreman

Dean Foreman
Posted June 18, 2020

As the U.S. and world confront the unprecedented combination of a public health crisis, significant economic downturn and tumultuous domestic and global oil markets, we have seen oil demand, prices, and consequently drilling and production fall by historic amounts.

API’s latest Monthly Statistical Report (MSR) for May and Industry Outlook for Q2 2020 offer important perspective on the most timely monthly U.S. data and expectations for energy markets.

Overall, we see market forces at work, with a re-balancing of supply and demand to historic proportions despite great uncertainties. The underlying fundamentals appear to be constructive and should position the U.S. natural gas and oil industry to participate in an economic recovery. And if the third-party consensus is correct the next year or so could bring positives for U.S. and global energy.


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Video: ‘Essential’ – For the Way Ahead

community  economic recovery  oil and natural gas 

Mark Green

Mark Green
Posted June 17, 2020

Delivering what’s essential. It’s at the heart of what our industry does – and it’s never been more important than right now.

The pandemic has focused Americans on health, safety, family and other critical priorities.

At the same time, we’ve been reminded that the heroes in this crisis are first-responders, doctors and nurses. We’ve also become aware that others – including people working at supermarkets, pharmacies, fuel stations and in modern communications networks – also serve in indispensable roles.

These contributions are highlighted in API’s new video, “Essential."

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Economic Recovery Will Be Powered by Natural Gas and Oil

oil and natural gas  economic recovery  growth 

Mark Green

Mark Green
Posted May 4, 2020

As some U.S. states and communities begin reopening, the COVID-19 threat to public health continues. Our industry stands ready to support safe and thoughtful plans to restart the economy and begin the national recovery from this historic pandemic.

When that recovery kicks in, it will be powered largely by natural gas and oil, here at home and around the globe – in the sense that recovery will mean increased personal driving, commercial transportation and air travel will require more fuels; reopening businesses will need more electricity; and manufacturers will require additional power and supplies of feedstocks.


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Diesel Fuel Demand Up

crude oil  diesel  diesel fuel  economic recovery  gasoline  oil demand  consumer confidence  crude oil supplies  jet fuel 

Jane Van Ryan

Jane Van Ryan
Posted October 15, 2010

API Chief Economist John Felmy told reporters this morning that there is glimmer of hope that the economy might be improving. API's Monthly Statistical Report for September shows that U.S. demand for oil products grew last month, foreshadowing a shift from economic stagnation to recovery. 

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