Energy Tomorrow Blog
Posted June 13, 2019
John Watson, then the chairman and CEO of Chevron, once was asked how the natural gas and oil industry is perceived since so much of the climate discussion is aimed solely at producing fossil fuels.
Unflinchingly, Watson countered that his industry is a noble one – delivering light, heat, transportation, food, clothing and other benefits to people every day – and that natural gas and oil are foundational for almost everything that we use and do. Simply put, Watson asserted that natural gas and oil are forces for good in human development and far from a deterrent (and instead an enabler) of climate progress.
It was an argument for the societal value of natural gas and oil and the opportunities they create, thanks to U.S. energy abundance.
Posted January 25, 2018
Posted April 6, 2015
Statistics in the U.S. Energy Information Administration’s Monthly Energy Review for March show U.S. domestic energy production meeting about 89 percent of the country’s total energy demand. That’s up from 84 percent in 2013 and 2012 and reflects a key result of the domestic energy revolution: growing U.S. self-sufficiency.
EIA data shows U.S. energy production as a percentage of total demand. Total energy production (fossil fuels, nuclear electric power and renewables – again, as a percentage of total U.S. energy demand -- was about 69 percent in 2005, and it grew to about 89 percent last year. The share of fossil fuels (oil, natural gas and coal) accounted for approximately 55 percent in 2005, growing to about 70 percent last year.
Posted November 26, 2013
Here’s wishing everyone a happy Thanksgiving while offering a few of the reasons we can all feel blessed because of America’s energy present and future – which the men and women of the oil and natural gas industry help deliver.
Let’s start with the fact America is enjoying a renaissance in home-grown energy production, thanks to advances in technologies and techniques, such as hydraulic fracturing and horizontal drilling. Last month these played a big role in helping domestic oil output to exceed imports for the first time since 1995. Because of fracking and other technologies, more of America’s vast oiland natural gas reserves can be developed to generate fuels that provide about 62 percent of the energy Americans currently use. That’s energy that makes our lives possible – that will power our lifestyles and economy in the future, according to government projections.
Posted October 15, 2013
Virginia is among Mid-Atlantic states under federal consideration for offshore seismic surveying for oil and natural gas. Policymakers should be mindful of a new poll showing that a wide majority of Virginians – 67 percent – favor offshore drilling, as well as increased production of domestic oil and natural gas overall.
Posted March 21, 2013
New from the U.S. Energy Information Administration:
Monthly crude oil production in the United States is expected to exceed the amount of U.S. crude oil imports later this year for the first time since February 1995. The gap between monthly U.S. crude oil production and imports is projected to be almost 2 million barrels per day (bbl/d) by the end of next year—according to EIA's March 2013 Short-Term Energy Outlook.
Posted March 1, 2013
We say opportunities for oil and natural gas development in federally controlled areas – onshore and offshore – have been limited. Some are saying that’s false. Let’s look at the facts.
Claim: 70 percent of undiscovered oil and natural gas on federal lands is available for leasing and development.
Fact: 83 percent of areas controlled by the federal government are closed to oil and natural gas development.What we have here is some sleight of hand with terminology. We’ll use the offshore situation to illustrate. During last year’s State of the Union address the president said he was directing the administration to open up more than 75 percent of America’s offshore resources for development.
Posted February 28, 2013
Main points from White House energy advisor Heather Zichal in an update of the administration’s positions on energy and environmental policy at an event this week hosted by the Center for Strategic & International Studies:
- Safe, reliable, affordable energy is the lifeblood of America’s economy and is fundamentally linked to U.S. security in the world.
- America’s energy narrative has been rewritten – chiefly due to innovations that have launched the shale oil and natural gas revolution – from one of scarcity to one of abundance.
- The administration’s chief economic goal is to create more middle-class jobs, and energy is and can continue to be a key driver of job and economic growth.
Posted February 26, 2013
The White House is continuing the drum beat for higher taxes on oil and natural gas companies – oddly, as a reaction to higher gasoline prices. Press Secretary Jay Carney this week:
“Anybody fill up their gas tank this weekend? Think the oil and gas companies can maybe afford to give up their taxpayer – special interest break? I think most Americans would say yes.”
Let’s think this through. Gasoline prices have been rising – mostly because of underlying increases in the cost of crude oil due to higher global demand for oil – and the White House press secretary’s response is to connect gasoline prices with a tired proposal to raise taxes on the producers of gasoline.
Posted February 21, 2013
While the White House talks again about raising taxes on oil and natural gas companies, let’s look at a chart that captures the starkly different outcomes – in terms of revenue for government – from two policy paths: higher energy taxes vs. increased energy development: