Energy Tomorrow Blog
Posted February 14, 2019
API’s Monthly Statistical Report (MSR), based on January data, is a good news/challenging news proposition.
First the good. January data tell us the U.S. has never produced more oil (11.9 million barrels per day, mb/d) and natural gas liquids (4.9 mb/d).
At the same time, U.S. refineries ran at their highest rates (93 percent capacity utilization) and produced the most they ever have for the month of January (17.3 mb/d). Moreover, domestic gasoline demand also was the greatest on record for the month of January (8.9 mb/d). These are terrific milestones. ... But some interesting challenges also emerged.
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 12, 2019
Recent tweet from the American Enterprise Institute’s Mark Perry includes a chart that vividly illustrates one of the biggest benefits of the U.S. energy revolution. First, it plots soaring U.S. net petroleum imports, which peaked at 60.3 percent in 2005, and then logs the plunge to just 12.1 percent last year. The thing that caught my eye in Perry’s tweet is that the time frame for his graph, 1957-2018, is pretty much the span of this blogger’s life.
Most importantly, in one generation, the United States has gone from steadily growing energy dependency to a nation that’s largely in control of its energy destiny. It’s a turnabout many of Americans never thought possible. Remarkable. Breathtaking. Or, as Perry tweets, amazing.
Posted January 24, 2019
On a day when the U.S. Energy Information Administration (EIA) published its new Annual Energy Outlook – forecasting that the U.S. will become a net energy exporter next year through 2050, growing natural gas share in fueling electricity and rising liquid natural gas exports – API President and CEO Mike Sommers talked about sustaining and growing the engine of all these trends and more: the U.S. energy revolution.
The reason is simple: Where U.S. energy is and where it could go hinge on extending that revolution – to support economic growth, increase U.S. security in the world and help advance environmental and climate goals.
Sommers’ remarks at the U.S. Energy Association’s State of the Energy Industry Forum outlined the key goals for the American energy sector.
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 January 18, 2019
The new Short-Term Energy Outlook from the U.S. Energy Information Administration (EIA) details the vigor of American crude oil production and strengthening U.S. energy security. This is good news for the economy, consumers and America's place in the world.
Consider that EIA estimates U.S. crude oil production averaged 10.9 million barrels per day (b/d) in 2018, an increase of 1.6 million b/d over 2017. EIA says production reached its highest level and had its largest volume growth on record.
EIA estimates crude oil and petroleum products net imports fell to an average of 2.4 million b/d in 2018, from 3.8 million b/d in 2017 – and 12.5 million b/d in 2005. And EIA forecasts that net imports will keep declining this year, to an average of 1.1 million b/d and to less than 0.1 million b/d in 2020. EIA forecasts that in the fourth quarter of 2020, the United States will be a net exporter of crude oil and petroleum products by about 0.9 million b/d.
Posted January 16, 2019
Welcome to America’s Generation Energy – Americans from all walks of life who have unique opportunities for work, prosperity, health and quality of life thanks to abundant U.S. natural gas and oil.
Our industry is helping lead the way. We’re delivering record volumes of the natural gas and oil that power and support modern life, and we’re doing so with lower emissions and cleaner, more efficient products and operations.
Posted January 10, 2019
Coastal states that have hosted offshore natural gas and oil development for decades illustrate how advanced industry technologies and an emphasis on safety – protecting people and the environment – make offshore energy a great opportunity for other states.
A diverse group of business and industry leaders from Virginia – which could be included in the administration’s soon-to-be-unveiled offshore leasing program – recently visited Louisiana, which has had a long, successful experience with offshore development.
The visiting delegation wanted to see first-hand how offshore operations affect coastal areas, individual communities, the state and regional economy, other water activities and more – all feeding enthusiasm for what safe and responsible offshore energy could mean for Virginia.
Posted January 9, 2019
“Say hello to the future!” It’s one of the big takeaways from this week’s State of American Energy event, captured in the early frames of API’s new video, “America’s Generation Energy.”
The people of natural gas and oil indeed are looking ahead. As a nation, Americans can greet the future with optimism because our country has secure and abundant energy – the foundation for economic growth, an array of consumer benefits, increased security and environmental progress.These points are underscored in API’s just-released annual report. It notes that our industry has made history with record-breaking natural gas and oil production, which is making lives better and playing a big role in shaping the future.
Posted January 8, 2019
In many ways, the truest measure of U.S. energy is America itself – the country’s economic health and its security in the world, the individual prosperity of its citizens and the nation's ability to meet significant challenges. Energy, led by natural gas and oil, is driving progress in all of these areas. No less important is the role abundant, secure energy plays in expanding concepts of what's possible, what Americans can achieve.
These themes were highlighted at the State of American Energy event in Washington, D.C., where API’s annual report, “America’s Generation Energy,” was released. API President and CEO Mike Sommers said this Generation Energy – the generation of Americans with unprecedented opportunity to dream and achieve thanks to plentiful natural gas and oil – is ready to achieve big things.