Energy Tomorrow Blog
Posted February 13, 2019
The Green New Deal is getting quite a bit of attention in Washington right now, and naturally, people want to know what the natural gas and oil industry thinks about the proposal to revolutionize America’s economy and way of life – since it appears the plan aims to eliminate natural gas and oil, the nation’s leading fuels, right when there’s record energy demand by consumers.
My reaction is that any proposal that would fundamentally reorder American energy – and the way of life in this country – should first be measured by its impacts on American consumers, the economy and the country’s opportunity for future prosperity.
Especially this one. There’s little question that GND would significantly alter America as we know it.
Posted February 6, 2019
Tuesday night’s State of the Union message was aimed at Washington finding common ground to work for the American people. President Trump said policymakers should embrace the “boundless potential of cooperation, compromise and the common good.” It struck a chord; more than seven in 10 Americans said they liked the speech’s approach and tone.
The challenge now is to move beyond rhetorical flourishes to action. Think: energy. In the quest for the common ground to do the common good, lawmakers can start with energy.Energy is America’s strong suit.
Posted November 16, 2018
With the midterms behind us, we can anticipate the spate of political analysis bemoaning the onset “divided government” with this observation: Expanding and upgrading U.S. energy infrastructure offers a terrific opportunity for substantive, bipartisan action that will benefit the American people.
First, consider that America’s energy resurgence – spurred by technologies and innovations tapping vast natural gas and oil reserves in shale and other tight-rock formations – is growing the economy, strengthening U.S. security and providing consumer benefits. Abundant energy helps everyone – hence the chance for the new Congress to find common ground in bolstering the infrastructure that delivers it.API President Mike Sommers and Sean McGarvey, president of North America’s Building Trades Unions (NABTU), built on these themes earlier this week in an op-ed in The Hill.
Posted April 21, 2016
U.S. Senate passage of energy legislation is an important step forward in the effort to sustain and grow a U.S. energy revolution that’s making America more energy secure, benefiting consumers and helping the environment.
For the first time since the energy renaissance materialized, both houses of Congress have passed bipartisan, comprehensive energy-assisting legislation. The initiatives signal a commitment to matching energy policy with the new U.S. energy reality, one in which the United States is the world’s leading producer of oil and natural gas. They also suggest lawmakers recognize that, on a bipartisan basis, voting Americans support more domestic energy development – as well as candidates who do the same.
Louis Finkel, API executive vice president, talked about the advancing legislation and the opportunities that are being provided by American energy during a conference call with reporters.
Posted December 15, 2015
That Congress soon may act to end the United States’ 40-year-old ban on domestic crude oil exports is signaled in the number of reports and posts on exports-related themes.
The Wall Street Journal has a report that talk of lifting the export ban is narrowing the difference between U.S. and global crude prices. The Council on Foreign Relations’ Michael Levi has this post discussing the impact of an exports deal on markets, the recent climate deal and geopolitics. National Journal reports on the legislative horse-trading some think could be part of lifting the exports ban. And there’s more.
Posted October 14, 2015
Highlights from API President and CEO Jack Gerard’s conference call with reporters in which he discussed efforts to lift America’s 1970s-era ban on crude oil exports and the positive climate impacts of the U.S. energy revolution in advance of next month’s COP21 conference in Paris.
Last week the U.S. House of Representatives sent a clear message that it stands for a brighter energy and economic future for our nation when it approved with a strong bipartisan majority lifting the 1970s era ban on crude oil exports. We now call on the Senate to do the same. We urge them to unleash our nation’s energy potential by ending this vestige of our nation’s era of energy scarcity, dependence and insecurity.
According to [studies by Columbia University and Brookings/NERA], putting this additional U.S. oil on the world market could reduce the price of a gallon of gasoline by as much as 12 cents a gallon, a significant savings for consumers. American consumers could save about $5.8 billion per year by 2020, [according to an ICF study]. The study also found that by lifting the ban on crude exports could create up to 300,000 American jobs, well beyond oil-producing states. Eighteen states could gain more than 5,000 jobs each in 2020 from the export of U.S. crude oil. Every other major study agrees. …
Posted October 9, 2015
It’s a bit early to go into a “victory formation” with the U.S. House of Representatives’ bipartisan vote to pass legislation lifting the United States’ decades-old ban on exporting domestic crude oil. The measure still has to get through the Senate, and President Obama has promised to veto it – vetoing help to consumers, jobs and economic growth, as well as an opportunity to increase America’s global competitiveness while strengthening our security.
Yet, it’s a major step in the direction of making energy history, which ending the export ban surely would represent. It would acknowledge that the world is much changed since the 1970s-era ban was imposed – mainly, that the U.S. energy revolution has rewritten America’s energy narrative while fundamentally reordered the world energy balance. Both compel policymakers to finish the job and lift the export ban.
Posted September 10, 2015
An important step forward this week for legislation to end America’s outdated, 1970s-era ban on domestic oil exports: passage of the bill by a U.S. House subcommittee. Next a full committee vote and, perhaps before too long, a vote by the entire House. Yet, challenges remain.
No doubt the full Energy and Commerce Committee debate will be more vigorous. But that doesn’t diminish this week’s historic progress on lifting the export ban – a true relic from America’s energy past. “This has been a long day coming,” said Rep. Joe Barton of Texas, the bill’s author.
As Barton explained, we’re at this point largely because of America’s energy revolution – the surge in domestic oil and natural gas production resulting from American innovation, technology, shale reserves and hydraulic fracturing and horizontal drilling.
Posted September 8, 2015
It looks like last week’s U.S. Energy Information Administration (EIA) report pointing out the benefits of exporting domestic crude oil is pushing Washington policymakers closer to ending the 1970s-era ban on exports. McClatcheyDC reports:
Momentum is growing to lift the 40-year ban on exporting U.S. oil to foreign nations, with a federal report concluding that doing so wouldn’t raise gasoline prices. Congress could vote on proposals when it returns from its summer vacation after Labor Day. Rep. Joe Barton, R-Texas, said he has “green lights” from the House Republican leadership, and is confident the House will pass a bill on ending the ban this fall. “It is up to this Congress to examine the issue and move towards a better policy that reflects the reality of America today, not the America of 1975,” Barton said in an email.
It may be that EIA’s report marks “critical mass” in terms of how much research backing crude exports is needed to move the needle in Washington – saying, as a number of previous studies projected – that exporting U.S. oil won’t negatively affect consumers and will spur domestic production. EIA’s report addresses the White House’s chief concern, about the impact of a policy change on U.S. energy prices. And this week an important House subcommittee is scheduled to vote on legislation that would lift the export ban.
Posted July 23, 2015
At an event last month, API President and CEO Jack Gerard sketched the broad outlines for a national conversation on energy, connecting energy policy with the approaching 2016 elections. It’s an appropriate linkage.
Our country has become a global energy superpower thanks largely to private innovation and entrepreneurship, which have created a generational opportunity – “the American moment,” Gerard called it. Sustaining the energy revolution requires vision, right policies and action – and the right leadership, which is why the 2016 vote matters. The energy path to help spur economic growth and prosperity and to increase national security is one that should transcend party politics.