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Energy Tomorrow Blog

U.S. Natural Gas and Oil – Still No. 1

production  oil and natural gas production  Energy Security  eia 

Sam Winstel

Sam Winstel
Posted August 23, 2019

We like to talk about the ongoing strength of the U.S. shale revolution – and that’s intentional because, like most Americans, we think continued leadership in producing natural gas and oil is a big deal.

This week the U.S. Energy Information Administration (EIA) underscored America’s energy influence, reporting that last year the U.S. led the world in natural gas and oil production, which it has done since 2014.

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Natural Gas: The Global Fuel of Choice

natural gas  eia  iea  emission reductions  global energy demand 

Jessica  Lutz

Jessica Lutz
Posted March 26, 2019

Natural gas is playing a lead role in meeting rapidly increasing global energy demand, and its growing use in electricity generation has resulted in significant savings in carbon dioxide emissions worldwide. These points were echoed by the International Energy Agency (IEA) in its Global Energy and CO2 Status Report released this week.

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Another Big Reason to Open ANWR for Safe Development

alaska  anwr  development  eia 

Jessica  Lutz

Jessica Lutz
Posted June 15, 2018

We’ve talked at length about the many benefits to opening up a small portion of the Arctic National Wildlife Refuge (ANWR) to natural gas and oil development. There can be little doubt about ANWR’s importance to the United States’ long-term energy security.

The point is underscored in a new report from the U.S. Energy Information Administration (EIA), analyzing the potential impact of natural gas and oil development in the coastal plain of ANWR. The results reiterate what we’ve been saying all along –  ANWR’s energy potential is incredibly large, and is a key part of a long-term U.S. energy vision.

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Oil, Natural Gas as Energies Today and Tomorrow

oil and natural gas  energy outlook  eia  us energy security  air quality 

Mark Green

Mark Green
Posted September 15, 2017

Putting together three big takeaways from EIA's report, the ongoing U.S. renaissance in natural gas and oil production puts America in a strong position for the future, especially in the context of rising world energy demand. Continued growth in domestic natural gas and oil production offers the U.S. a chance to grow in its energy self-sufficiency. 

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U.S. Energy Outlook: Growing Output, Growing Security

oil and natural gas  us energy security  oil imports  energy exports  eia forecast 

Mark Green

Mark Green
Posted January 6, 2017

Sometime in the mid-2020s, U.S. energy officials project, two key lines measuring energy imports and exports will cross, and the United States will have achieved something quite special – the advent of an era in which America is a net energy exporter. That’s one of the big projections contained in the U.S. Energy Information Administration’s newly released Annual Energy Outlook for 2017 (AEO2017).

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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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Energizing New Jersey

new jersey  refinieries  eia  vote4energy  states2016 

Mark Green

Mark Green
Posted August 8, 2016

The United States is the world’s leading producer of oil and natural gas – a fact that reflects energy production in so many of the individual states. At the same time, as an energy nation every single state is involved in the broad, economically beneficial energy supply chain. Over the next few weeks we’ll take a look at the 50 states of energy, including their energy use profiles and specific energy issues in each state. Today we start with – New Jersey.

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A Look at Energy Projections and Polls

oil and natural gas  us energy security  climate  economic growth  eia 

Mark Green

Mark Green
Posted June 24, 2016

Let’s spend a few words supporting the work of the folks at the U.S. Energy Information Administration (EIA) – which compiles energy data and produces reports that depict America’s current energy picture, as well as projections on how that picture could look years from now. EIA’s analyses are valuable for policymakers, energy-associated industries, a range of business sectors and regular Americans.

Unfortunately, EIA is taking criticism from some quarters because its reports, such as the Annual Energy Outlook 2016, project that fossil fuels will continue to be the largest piece of the U.S. energy portfolio well into the future. A number of critics want EIA to issue projections that are more optimistic about the use of renewables. ...

While predicting things is tricky, it looks like EIA’s 2000 projection for 2015 turned out to be pretty accurate for petroleum/other liquids and renewables.

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Oil Exports and the Federal Budget

crude oil exports  spr  government revenues  Economy  jobs  eia  taxes 

Mark Green

Mark Green
Posted October 27, 2015

Reports by Bloomberg and others say that White House and congressional budget negotiators would sell oil from the Strategic Petroleum Reserve (SPR) to partially pay for their new budget agreement. Sales would total 58 million barrels from 2018 to 2025, according to a draft House bill (see Section 403-a).

How much money would be raised from the sales would depend on prices at the time of the sales. But, if the goal is generating revenue for government to fund worthy projects, rather than a series of one-time sales, why not lift the ban on U.S. crude oil exports and create an annual revenue stream?

According to a study by ICF International (Page 86), ending the 1970s-era oil exports ban would lift the U.S. economy, create jobs – and generate significant additional revenue for government. A number of other studies mirror ICF’s findings on the economic benefits from lifting the export ban. We highlight ICF here because its estimate of additional oil production from lifting the ban (up 500,000 barrels per day) is almost identical to the output increase estimated by the U.S. Energy Information Administration (470,000 barrels per day). ICF:

Federal, state, and local governments benefit from crude oil exports both in terms of the generation of GDP, which is then taxed at these levels, but also through royalties on federal lands where drilling takes place. Total government revenues, including U.S. federal, state, and local tax receipts attributable to GDP increases from expanding crude oil exports, could increase up to $13.5 billion in 2020.

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EIA and Crude Oil Exports

analysis  energy exports  crude oil  eia  economic benefits  oil production  american petroleum institute 

Mark Green

Mark Green
Posted September 1, 2015

Some quick points from the new crude oil exports study from the U.S. Energy Information Administration (EIA):

First, like a series of other studies before it, EIA’s study finds that lifting America’s 1970s-era ban on exporting domestic crude oil would not negatively affect U.S. consumers. EIA says:

Petroleum product prices in the United States, including gasoline prices, would be either unchanged or slightly reduced by the removal of current restrictions on crude oil exports.

EIA projects that ending the export ban – which would allow shut-in domestic crude to access global crude oil markets – would spur more domestic production. Then the global supply/demand would become “looser,” putting downward pressure on global crude prices, resulting in “lower petroleum product prices for U.S. consumers.

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