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Energy Tomorrow Blog

House Oil and Gas Leasing Proposal Is All Cost, No Benefit

congress  domestic energy production  royalties  us energy security 

Lem Smith

Lem Smith
Posted September 2, 2021

As the administration looks to foreign nations to boost energy production, the House Natural Resources Committee’s baseline reconciliation bill, as unveiled, proposes a double-whammy of punitive policies to discourage U.S. energy development with new, targeted measures against the U.S. natural gas and oil industry. That combination could lower domestic production and boomerang the U.S. back to 1970s-era dependence upon foreign energy imports.

Most concerning, instead of advancing effective solutions that build on the nation’s progress in reducing emissions, the committee would inundate producers with a myriad of new taxes and fees to create a de facto natural gas and oil development ban on federal lands.

As the full committee works on the proposal, a course correction is urgent as the broader, multi-trillion dollar reconciliation package takes shape. Read on about why the committee’s proposal could harm the environment, weaken the economy and jeopardize America’s national security.

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EIA says Natural Gas and Oil Will Remain Integral, But Where Will They Come From?

eia forecast  energy production  us energy security  federal leases 

Jessica  Lutz

Jessica Lutz
Posted February 10, 2021

Natural gas and oil will remain central to meeting our nation’s energy needs well into the future. So says the nonpartisan U.S. Energy Information Administration (EIA) in its 2021 Annual Energy Outlook.

The analysis is critically important given the Biden administration’s apparent shift away from the previous administration’s focus on building American energy dominance through homegrown natural gas and oil – seen in the president’s executive order halting new federal leasing.

EIA’s forecast and the administration’s energy position are incompatible with each other, raising a simple question: If we aren’t allowed access to key federal natural gas and oil reserves, onshore and offshore, where will our energy supply come from?

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DNC Keynote Speakers Tout U.S. Natural Gas & Oil

energy production  economic benefits  emission reductions  politics 

Megan Barnett Bloomgren

Megan Bloomgren
Posted August 19, 2020

If Democratic policymakers want to ‘build back better’ while also keeping the lights on, they’ll want to support the continued development of America’s vast natural gas and oil resources, which provides reliable, affordable, and cleaner energy.

Democratic leaders like former President Barack Obama – who received a 97% favorability rating in 2018 among self-identified Democrats – and several other keynote speakers at this year’s Democratic National Convention have advocated for U.S. natural gas and oil, with some encouraging its growth to help lower household energy bills, reduce emissions, and create new American jobs.

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Using Energy Revenues, New Mexico Offers Free In-State College

new mexico  permian basin  government revenue  energy production 

Sam Winstel

Sam Winstel
Posted October 7, 2019

The U.S. energy revolution is at work for New Mexico and the state’s higher education system.

Gov. Michelle Lujan Grisham made national headlines last month by announcing free tuition at public universities for all residents, regardless of family income. That’s all 29 of the state’s two- and four-year institutions beginning next fall, benefiting an estimated 55,000 New Mexico students.

Thanks to the state’s natural gas and oil development.

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Petroleum Exports Retreat Suggests Global Economic Weakness

petroleum products  refineries  exports  economic growth  energy production 

Dean Foreman

Dean Foreman
Posted February 14, 2019

API’s Monthly Statistical Report (MSR), based on January data, is a good news/challenging news proposition.

First the good. January data tell us the U.S. has never produced more oil (11.9 million barrels per day, mb/d) and natural gas liquids (4.9 mb/d). 

At the same time, U.S. refineries ran at their highest rates (93 percent capacity utilization) and produced the most they ever have for the month of January (17.3 mb/d). Moreover, domestic gasoline demand also was the greatest on record for the month of January (8.9 mb/d). These are terrific milestones. ... But some interesting challenges also emerged.

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The Global, Positive Impacts of the U.S. Energy Renaissance

oil and natural gas  exports  lng exports  domestic energy production  fracking  shale energy 

Mark Green

Mark Green
Posted December 7, 2016

It’s hard to overstate the importance of America’s fracking-led energy renaissance – to our economy, individual households, energy security, the environment and to America’s ability to shape global events for the good. That last point is being underscored right now.

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Energizing Louisiana

vote4energy  louisiana  energy production  refineries  states2016 

Mark Green

Mark Green
Posted August 9, 2016

We kicked off our 50 states of energy blog post series on Monday with New Jersey. Over the next several weeks we’ll focus on the impacts of energy in each individual state – underscoring the reality that the United States as an energy superpower, leading the world in oil and natural gas production, is very much a sum of its energy parts. Today: Louisiana.

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Innovation, Science, and Fracking

hydraulic fracturing  ghg emission reduction  regulations  drinking water  energy production  horizontal drilling  carbon emissions 

Erik Milito

Erik Milito
Posted June 9, 2016

Competitive forces and industry innovation continue to drive technological advances and produce clean-burning natural gas, which has led to reducing carbon emissions from power generation to their lowest level in more than 20 years, making it clear that environmental progress and energy production are not mutually exclusive.

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U.S. Energy Exports and Market Engagement

crude oil exports  energy markets  domestic energy production  economic growth  jobs  trade  lng exports 

Mark Green

Mark Green
Posted November 18, 2015

Interesting analysis on energy independence in the Wall Street Journal by Columbia University’s Jason Bordoff, a former energy adviser to President Obama. It’s a good thing the United States isn’t energy independent, Bordoff writes. That’ll get your attention, right?

As Bordoff explains, “energy independence” is a dusty concept from the 1970s and 80s, after policymakers made it a goal to end U.S. reliance on global crude suppliers after the 1973 oil embargo.  It didn’t happen. To the contrary, U.S. imports steadily climbed in the 1990s and 2000s before the significant increases in domestic production, thanks to abundant American shale energy reserves and advanced hydraulic fracturing.

Now, with U.S. energy output surging, the inclination among some is to keep that energy here at home by maintaining the 1970s-era ban on crude oil exports, believing that it lessens others’ ability to disrupt our oil supplies. But Bordoff writes that an “isolationist” approach on energy misunderstands the reality that today’s global energy market is highly integrated and that the interconnectedness of the market has helped the U.S. compensate for supply disruptions here at home and overseas. “Free trade in a highly integrated global energy market made us more secure,” he writes.

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ConocoPhillips’ Lance: Crude Exports Would Boost Economy

analysis  conocophillips  crude oil  energy exports  refineries  economic benefits  gasoline prices  job creation  domestic energy production 

Mark Green

Mark Green
Posted April 27, 2015

ConocoPhillips Chairman and CEO Ryan Lance talks with Energy Tomorrow about key industry challenges ahead and details the case for ending the United States’ 1970s-era ban on the export of domestic crude oil. Lance is a petroleum engineer with 28 years of oil and natural gas industry experience in senior management and technical positions with ConocoPhillips, predecessor Phillips Petroleum and various divisions of ARCO. His past executive assignments with ConocoPhillips have included responsibility for international exploration and production, regional responsibility at various times for Asia, Africa, the Middle East and North America, and responsibility for technology, major projects, downstream strategy, integration and specialty functions. He is a member of the Society of Petroleum Engineers, and earned a Bachelor of Science degree in petroleum engineering from Montana Tech in 1984.

Q: Given the current downturn in oil prices, talk about the key decisions ahead for the industry over the next 10 years.

Lance: We foresee several key decisions ahead for companies in our industry. First they have to determine their strategic direction.  Industry has transitioned from an era of limited resource access to one that, due to the productivity of North American shale and the potential for shale development elsewhere, offers a new abundance of resources. Although many of the best conventional resource areas remain off limits in traditional exporting countries, shale and other unconventional resources offer immense potential in many areas that are accessible. So companies now have an unprecedented range of options – pursuing North American shale,  international shale, deepwater development, LNG, oil sands, international exploration, and so on. Companies must determine where they have or can build competitive advantages and leverage relationships with host nations, potential partners and suppliers, and identify the long-term opportunities best for them.  

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