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Energy Tomorrow Blog

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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Crude Exports and Consumer Benefits

crude oil exports  gasoline prices  consumers  domestic oil production  eia 

Mark Green

Mark Green
Posted September 9, 2016

Looking back, the weight of scholarship and analysis had predicted that, rather than cause higher pump prices here at home as some claimed, exporting domestic crude would put downward pressure on U.S. gasoline prices. In fact, that’s what we’re seeing – abundant crude oil supply benefiting American consumers. U.S. crude exports are part of that market dynamic – while also helping to support domestic production and strengthening America’s balance of trade.

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The Oil Exports Conversation

crude oil exports  domestic oil production  security  economic growth  jobs 

Mark Green

Mark Green
Posted December 7, 2015

t’s good that Congress appears to be talking seriously about ending the United States’ four-decades-old ban on crude oil exports. Reports say Democrats and Republicans are discussing a deal that would include lifting the export ban – though it’s unclear what a specific deal would look like. “We need to have a conversation” about oil exports, Senate Minority Whip Dick Durbin told Politico. “We need to have a fair negotiation.”

Of course, we’ve been having a conversation about the merits of lifting the exports ban for some time. And it starts with this: Every major study on the issue has found that exporting U.S. crude oil would be good for America and Americans. The benefits range from those to consumers, to the economy, to American security to domestic energy production. According to the research, ending the outdated ban would positively impact all of the above.

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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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Saying ‘Yes’ to Iran, ‘No’ to U.S.

crude oil exports  domestic oil production  security  president obama  economic growth  jobs 

Mark Green

Mark Green
Posted October 19, 2015

The question Americans should be asking right now: Why is the Obama administration actively working to clear the way for Iran to resume trading its crude oil on the global market while it opposes legislation that would do the same for U.S. oil?

It’s a great question for which the administration can offer no good answer, because there isn’t one.

Yet, that’s the policy disconnect that is unfolding before Americans’ very eyes, with the weekend news that the administration approved conditional sanctions waivers for Iran that at some point will let the Iranians resume exporting their oil to the world – within days of the White House threatening to veto bipartisan legislation in Congress that would end the 1970s-era ban on U.S. oil exports.

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U.S. Energy Exports Opportunity Knocks

energy exports  crude oil exports  lng exports  security  economic growth  domestic oil production 

Mark Green

Mark Green
Posted October 15, 2015

Reuters reports that Lithuania is in talks with U.S. liquefied natural gas company Cheniere Energy, seeking to reduce its dependence on Russia for LNG supplies. Lithuania opened an LNG import terminal last year, and its gas supply contract with Russian state-owned supplier Gazprom is scheduled to expire at the end of the year. Rokas Masiulis, Lithuania’s energy minister:

“We would love to have U.S. cargo in our region to have competition with Gazprom. … I believe negotiations with Gazprom now will be on competitive, reasonable terms and that will be just business and nothing else. … After we have built an LNG terminal, there is no possibility of blackmail. Since we think there is no possibility of blackmail, discussion will be rational and economical rather than political. This is a big step.”

The minister speaks diplomatically, so let’s read between the lines a bit. We suspect that Lithuania is trying to secure the diversification of its energy supply. The country wants options, additional sources of LNG so that it is beyond leveraging by Russia on natural gas. Russia did this with oil in 2006, Reuters reports.

At the same time, Masiulis told Reuters that Lithuania also would be open to buying U.S. crude oil if the United States repeals its current ban on the export of domestic crude.

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Keep Crude Exports Debate Focused on Jobs, Security

crude oil exports  domestic oil production  economic growth  jobs  us energy security  trade 

Mark Green

Mark Green
Posted October 13, 2015

Last week’s bipartisan U.S. House vote to end America’s 1970s-era ban on crude oil exports is stirring needed debate over U.S. energy and trade policy as the exports issue advances in Congress. Unfortunately, much of the conversation remains focused on the wrong things.

For example, export opponents continue to say the United States shouldn’t export crude oil as long as it’s an oil importer. We rebutted that economically faulty position here.  Access to global markets means bringing overseas wealth to the United States. Conversely, shutting in a domestic commodity is an obstacle to production and economic growth. The oil imports/exports threshold is one that isn’t applied to other domestic goods – and for good reason: Access to global markets is good for domestic producers.

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Bipartisan Crude Exports Vote is for Jobs, Security

crude oil exports  domestic oil production  economic growth  jobs  security  congress 

Mark Green

Mark Green
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 consumersjobs 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. 

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Bipartisan Crude Exports Vote – A Vote for U.S. Jobs, Security, Competitiveness

crude oil exports  domestic oil production  economic growth  security  jobs 

Mark Green

Mark Green
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 consumersjobs 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.

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The Crude Oil Exports Vote

crude oil exports  domestic oil production  economic growth  jobs  Energy Security 

Mark Green

Mark Green
Posted October 7, 2015

The U.S. House has an important vote scheduled for Friday on legislation that would lift the 1970s-era ban on domestic crude oil exports. It’s an historic chance for U.S. policymakers to affirm that America’s energy picture is fundamentally and dramatically improved from where it was four decades ago – thanks to surging domestic production that has made the United States the world’s No. 1 producer of oil and natural gas.

It boils down to this: A vote for the bill would be a vote for U.S. jobs, economic growth, trade benefits  and strengthened American security. It would be a vote for U.S. consumers and American global competitiveness. It would be a vote for America’s friends abroad, who see U.S. energy as a global supply diversifier and stabilizer. As one ally said earlier this year, with U.S. oil exports the “world itself will be a … safer place.”

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