Energy Tomorrow Blog
Posted March 23, 2020
As the world grapples with the ongoing spread of the coronavirus, the decision by Russia and the OPEC nations to increase energy supplies while demand is dropping has contributed to ongoing market instability and delivered a shock to America’s evolving energy picture.
Since the late 2000s, the U.S. has emerged as the world’s leading producer of natural gas and oil—last month producing at estimated record levels of 13 million barrels of oil and 96.5 billion cubic feet of natural gas to meet consumer demand. Innovative technologies like hydraulic fracturing have enabled producers to reach abundant U.S. shale reserves, and thus changed America’s trajectory from energy scarcity to abundance and from importing energy to exporting it.
It is not surprising, then, that some global energy players are threatened by American energy leadership and have actively tried to prevent its progress. Russia and other nations’ push to increase global energy supply despite lower demand in the short term is a reaction to America’s new paradigm as a global energy superpower. This is a challenging situation, compounded by the impact of the coronavirus, but interventions like protectionist trade measures are not the answer.
Posted March 19, 2020
As much as any other sector, global energy has felt the impact of the coronavirus (COVID-19) combined with lowering world demand and Russia and Saudi Arabia raising oil supply. We’ve seen crude oil prices cut in half within three months, which if sustained could rank among the most severe oil price downturns on record. Let’s discuss the most significant points for U.S. consumers, industry and the broader economy.
Details may be found in API’s latest Monthly Statistical Report, based on February U.S. petroleum data. Using weekly surveys of 90% of the natural gas and oil industry, we publish monthly data and analysis two months ahead of the U.S. Energy Information Administration (EIA).
Posted March 17, 2020
Much of the news surrounding the U.S. natural gas and oil industry is fairly challenging right now: some of the lowest global crude oil prices in years; world energy demand, which already was slowing, has been further affected by the coronavirus; Russia and Saudi Arabia, the world’s No. 2 and No. 3 oil producers, plan to increase output, launching a price war that also might be aimed at clawing back market share lost to U.S. shale producers in recent years.
Even so, don’t bet against the U.S. natural gas and oil industry. Ours is an industry of innovation and technological expertise that historically has risen to overcome serious circumstances, playing a key role in building U.S. economic strength and increasing the nation’s global security.
Posted March 9, 2020
From recent remarks to a meeting of the Aurora, Colorado, Chamber of Commerce and the Colorado Business Roundtable.
The Aurora Chamber aspires to be a catalyst, convener and champion of the Aurora business community. That caught my attention because at API, we see ourselves in much the same way, especially now, when the State of American Energy is one of leadership. America is the global leader in energy development, carbon emissions reductions and environmental performance.
Our industry is built on the catalysts who meet the world’s ever-growing energy demand, conveners who address the risks of climate change, and champions who promote all the Americans working 10.9 million jobs supported by the natural gas and oil industry.
Posted March 6, 2020
It’s been a big week for announcements coming out of the U.S. Energy Information Administration (EIA) and the nation’s natural gas and oil industry.
On Monday, EIA said that annual U.S. oil production broke another big record in 2019, and swiftly followed that with news on Tuesday that U.S. natural gas use has reached new record highs. Both are great news for American energy and national security, the economy and the environment.
Posted February 11, 2020
Lansing, Michigan, has come a long way since the days of high unemployment and general malaise, when people joked that the last person to leave Michigan should turn out the lights. Today, Lansing is on the rise – one of many communities across the country that have been helped by the empowering nature of abundant U.S. natural gas and oil (see API’s 2020 State of American Energy report).Lansing is home to new auto manufacturing plants, and the municipal utility, Lansing Board of Water & Light (BWL), is replacing the last of its coal-fired generation facilities with a $500 million natural gas-fueled power plant.
Posted February 5, 2020
The federal government’s latest energy projections are out, and they portray a U.S. energy future that continues to be driven by natural gas and oil.
It’s a future noteworthy for continued production growth, greater efficiency, the U.S. as a net energy exporter and emissions progress. All are connected in various ways to shale reserves and safe, modern hydraulic fracturing – and at risk if fracking were banned as some have advocated.
Americans understand how far the United States has come in the past decade and a half, thanks to shale and hydraulic fracturing, helping advance the goal voiced by U.S. presidents since Jimmy Carter of seeing this country end its reliance on foreign energy. Indeed, in December the U.S. Energy Information Administration (EIA) confirmed the United States as a net exporter of energy in total for the first time since the 1950s. This is an historic sign of new U.S. global energy leadership, and it shouldn’t be thrown away with foolish policy choices.
Posted February 3, 2020
Energy – essential for growth and opportunity – is America’s strong suit, thanks to abundant domestic natural gas and oil. It’s a key driver in the national economy and also local economies, in places like Eau Claire, Wisconsin.
This is Energy Progress, the theme of API’s State of American Energy report. They’re living it in Eau Claire.
Posted January 24, 2020
Remarks delivered Jan. 23 at the U.S. Energy Association’s “State of the Energy Industry” forum.
From President Carter to President Trump, 40-plus years packs in plenty of different ideologies, but all seven leaders shared a common goal: energy security for America. Each of those presidents knew that clean, affordable, and reliable American energy is essential to both economic growth and national security.
For decades, U.S. energy policy has focused on reducing our dependence on foreign natural gas and oil. The outlook was often pessimistic, defined by scarcity rather than surplus. Times have changed, thanks to a U.S. energy revolution that’s full speed ahead.
Posted January 24, 2020
There might not be a better example of the broad, empowering effects of abundant U.S. natural gas and oil than Aurora, Colorado. The city has emerged from Denver’s shadow on the strength of more than a dozen thriving business sectors – with energy underlying growth. It’s why API’s 2020 State of American Energy report profiled Aurora and six other communities to show how natural gas and oil are fundamental to economic expansion, job creation and rising opportunity across the U.S.
Kevin Hougen, Aurora Chamber of Commerce president, describes the city as diverse culturally and in industry, which is attracting new people from a range of career paths, from bio-science and healthcare to cybersecurity, aerospace and the military.