Energy Tomorrow Blog
EIA’s Outlook: Natural Gas and Oil Remain Integral to U.S.
eia forecast economic growth oil and natural gas production us energy security
Mark Green
Posted February 5, 2020
The federal government’s latest energy projections are out, and they portray a U.S. energy future that continues to be driven by natural gas and oil.
It’s a future noteworthy for continued production growth, greater efficiency, the U.S. as a net energy exporter and emissions progress. All are connected in various ways to shale reserves and safe, modern hydraulic fracturing – and at risk if fracking were banned as some have advocated.
Americans understand how far the United States has come in the past decade and a half, thanks to shale and hydraulic fracturing, helping advance the goal voiced by U.S. presidents since Jimmy Carter of seeing this country end its reliance on foreign energy. Indeed, in December the U.S. Energy Information Administration (EIA) confirmed the United States as a net exporter of energy in total for the first time since the 1950s. This is an historic sign of new U.S. global energy leadership, and it shouldn’t be thrown away with foolish policy choices.
U.S. Natural Gas and Oil – Still No. 1
production oil and natural gas production Energy Security eia
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.
Natural Gas: The Global Fuel of Choice
natural gas eia iea emission reductions global energy demand
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.
Another Big Reason to Open ANWR for Safe Development
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.
Oil, Natural Gas as Energies Today and Tomorrow
oil and natural gas energy outlook eia us energy security air quality
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.
U.S. Energy Outlook: Growing Output, Growing Security
oil and natural gas us energy security oil imports energy exports eia forecast
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).
Crude Exports and Consumer Benefits
crude oil exports gasoline prices consumers domestic oil production eia
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.
Energizing New Jersey
new jersey refinieries eia vote4energy states2016
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.
A Look at Energy Projections and Polls
oil and natural gas us energy security climate economic growth eia
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.
Oil Exports and the Federal Budget
crude oil exports spr government revenues Economy jobs eia taxes
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.