Energy Tomorrow Blog
Posted October 2, 2019
When it comes to motor fuels, the prices we pay at the pump historically reflect crude oil prices – the No. 1 input cost according to the U.S. Energy Information Administration (EIA) – as well as the relative prices of other products, which collectively motivate refiners to manufacture different fuels.
We’ve seen through the energy revolution – and especially since 2015 – how lower prices for crude oil and natural gas (a key processing fuel and operating expense for refiners) have advantaged the U.S. petroleum refining industry – and ultimately led to lower fuel prices for consumers at home and abroad.
Posted February 16, 2018
U.S. crude oil production scored a perfect “10” in January – make that 10.2, to be precise, as in 10.2 million barrels per day (mbd). That record production, combined with a new high for refinery throughput and 6.3 mbd of crude oil and refined product exports, narrowed the price difference between U.S. and international crude prices last month and underscored the global impact of U.S. energy. All of this data and more may be found in API’s Monthly Statistical Report for January.
Posted June 1, 2017
Today, API releases a new report that highlights the tangible ways our industry protects the safety and environment – as it also helps local communities. It’s an important document, reflecting the premium placed on responsible energy development by natural gas and oil companies. From the report:
The safety, health and protection of people, the environment and communities are the top priorities for the natural gas and oil industry. Today, natural gas and oil not only power our lives, but are the building blocks for so many of the products that make modern life possible. But this energy and the amazing things derived from it – everything from clothing and cosmetics to state-of-the-art health care devices and medicines – aren’t possible unless responsible development is the centerpiece of everything the industry does.
Posted March 10, 2017
We’ve talked quite a bit about the way America’s energy renaissance is benefiting consumers, supporting the economy, strengthening our security, reducing U.S. energy-related carbon emissions to 25-year lows and bringing overseas wealth into this country through the export of crude oil and natural gas.
There’s even more: U.S. exports of refined petroleum products are soaring. Here’s a chart developed from U.S. Energy Information Administration (EIA) data, showing that exports of refined products have more than doubled in the past decade to about 3 million barrels per day…
Posted January 31, 2017
One of the most technologically advanced industries in the world, the U.S. refining sector is the essential link between America’s crude oil wealth and the fuels and countless consumer products we depend on every day.
Posted January 24, 2017
Posted April 24, 2015
To identify members of API’s second Emerging Leaders Program as “millennials” would really be oversimplifying things. Sure, they generally fit that age demographic, but they’re not being defined by such a generalized label. Rather, they’re defining themselves in the professional world – which surely is a reason their companies nominated them to participate in a program that focuses on future industry leadership, which included joining API at IHS Energy’s annual CERAWeek conference in Houston.
This year’s program centered on how modern politics impacts the oil and natural gas industry. Specifically, the curriculum examined the growing importance of public policy, advocacy and mobilization within daily industry operations and underscored the importance of political participation.
Still, much of the context for these discussions involves the career expectations and experiences of the emerging leader cohort – which in some ways reflect the aspirational trends of the larger generational grouping. Just don’t pigeon-hole them as “millennials.”
During our conversation at CERAWeek there was agreement that the oil and natural gas industry fits with younger career people (whatever you call them) who are adaptable, appropriately ambitious and invested in the notion of making a difference.
Posted July 14, 2014
CNBC: The United States is swimming in oil and gas. But processing the new-found bounty is posing a challenge to U.S. refiners, which can't come to grips with the abundance in domestic supply.
A production renaissance has catapulted the United States into the upper strata of global energy producers. Yet with fewer than 150 refineries, the U.S. has a surprisingly limited capacity to process the bounty.
"Some refineries are better suited for light sweet crude," while others—primarily on the Gulf Coast—are better optimized for the heavier, international variety of oil, said Bob Greco, director of upstream operations for the American Petroleum Institute.
The huge increase in shale production in places like North Dakota is helping to revitalize East Coast refineries, Greco said in an interview.
Posted October 11, 2013
Posted August 7, 2013
Now for a change of pace: Kudos to EPA for deciding to give the oil and natural gas industry more time to install emissions controls on storage tanks.
Phasing in the deadline for controls on volatile organic compounds emitted by storage tanks – through April 2015 instead of the original deadline about two months from now – is encouraging because it recognizes industry’s willingness to make its operations cleaner under realistic and fair regulation, while also suggesting the agency can be responsive to industry’s reasonable points of view (more below).