Energy Tomorrow Blog
Posted February 16, 2021
Most people get riled up when energy costs rise, especially prices at the pump. It’s understandable; energy represented 6.5% of household expenditures in 2019, per the U.S. Bureau of Labor Statistics’ Consumer Expenditure Survey. Yet, as we’ll see, energy policy choices can affect far more than just what you pay for a gallon of gasoline or your monthly electricity bill.
For example, imagine how you would feel if you learned that U.S. energy policies materially raised the cost of houses and vehicles, in addition to the fuel they require, the costs of which have been on the rise. Those two together plus energy represent more than half of a typical household’s expenditures.
Higher energy costs are a distinct possibility with the Biden administration’s decision to halt new federal natural gas and oil leasing, potentially reducing domestic production, as well as possible moves on the regulatory front and other actions that could limit drilling or hydraulic fracturing. These could put upward pressure on energy costs that then would ripple across various sectors since virtually everything has an energy component.
Posted January 22, 2019
Natural gas and oil are integral in all parts of modern life, every hour of every day. They serve as the building blocks for products and components associated with health care, clean water, education, entertainment, communications, art, agriculture and more. They fuel our transportation and power our 21st-century electricity grid – while making possible so many products that make life easier, healthier and safer.This message was one of the takeaways from API’s recent State of American Energy event, and is captured in our latest video, “America’s Generation Energy.”
Posted September 29, 2017
Bogart the camel was born with carpel hyper-extensions, meaning his front legs won’t support the rest of his body. This rare and extreme condition would make it hard for Bogart to have a normal life. But Dr. Derrick Campana, an animal orthotist and founder of Animal Ortho Care in Sterling, Va., stepped in to create braces to get him on his feet – you know, all four of ‘em. Because of the size the braces needed to be, Campana turned to high-temperature thermoplastics for stability. The braces are made with polypropylene – a byproduct of natural gas and oil.
Posted June 16, 2016
When it comes to making actual progress on climate through the reduction of carbon emissions, basically there are two groups: talkers and doers.
Talkers spend much of their time filibustering on the need to reduce emissions through central government planning – bureaucratic programs, new layers of regulation, onerous pricing mechanisms and more – while criticizing those who don’t rush to embrace Washington climate think.
As for the doers, they’re already reducing emissions. Our industry is part of this second group.
Posted December 22, 2015
What would the holidays be without energy? Sure, you could still roast your chestnuts – provided you had an open fire. And you still might find your way around on a dark, foggy night – with help from a certain reindeer. But in many cities and towns things would be significantly less jolly and less festive, even if it looked like snow.
Enter energy – and more specifically, natural gas.
Posted November 25, 2015
Posted November 2, 2015
When the Energy Policy and Conservation Act was signed into law by President Gerald Ford in 1975, Ford said it would put the United States “solidly on the road to energy independence.” The legislation included a ban on most exports of domestically produced crude oil. For many, shutting in domestic oil production – effectively self-sanctioning a vital U.S. industrial sector from the global marketplace – seemed like a good idea. At the time.
The country had been roiled by an oil embargo imposed by exporting states in response to U.S. support for Israel during the 1973 Yom Kippur War. Americans learned the meaning of oil shock – long lines for gasoline, odd/even day rationing schedules, shortages and rising prices. The Federal Reserve’s Michael Corbett writes that the embargo nearly quadrupled the price of a barrel of oil to $11.65 – quaintly low in 2015 dollars, but economically crippling four decades ago.
Posted October 6, 2015
Last month we connected he lowest pre-Labor Day gasoline prices in more than a decade with the global cost of crude oil, the main factor in prices at the pump. The U.S. Energy Information Administration (EIA) attributed crude prices, in part, with growth in global supply – due in no small part to increases in U.S. oil production. Abbreviated: Thanks, U.S. energy revolution.
Now comes EIA’s Winter Fuels Outlook, with forecasts that household heating costs will be lower than the previous two winters. Thanks again, U.S. energy.