Energy Tomorrow Blog
Posted August 30, 2018
A map shows just how much damage could be done to the United States’ fifth-leading natural gas and seventh-largest oil producing state by Colorado’s Initiative 97 – the anti-energy, anti-progress measure that state officials said will be on the November election ballot. Coloradoans and all Americans should be very concerned.
Zeroing in on the state’s top five producing counties (outlined in blue) – Weld in the north on the border with Wyoming, Rio Blanco and Garfield on the western border with Utah, and La Plata and Las Animas on the southern border with New Mexico – the map shows that opportunity for new natural gas and oil development on non-federal land would be all but prohibited.This is an alarming prospect for all Americans, because we’re talking about putting the brakes on one of the country’s leading and fastest-growing energy producers.
Posted July 31, 2018
U.S. Energy Secretary Rick Perry makes a number of important points about domestic natural gas and oil production, hydraulic fracturing and U.S. energy exports in a piece for CNBC. These include: The United States is shedding dependence on imported energy; U.S. energy exports are helping friends and allies overseas; and natural gas is helping the U.S. lead in cutting greenhouse gas emissions.
Posted June 21, 2018
The API Industry Outlook for the second quarter of 2018 is one of the things that’s new at API. If you follow energy markets, you’ll appreciate an incisive view of the economy at home and abroad as well as markets for crude oil, natural gas and petrochemicals.
Beyond nice-to-know “macro factors,” here are things to know and understand about trade barriers that could affect economic activity and prices where you work and live.
Posted May 22, 2018
Washington is known for partisan political skirmishing, so it’s not surprising that a group of Senate Democrats is trying to score political points against this year’s tax reform legislation by suggesting that lowering the corporate income tax rate has been linked to the recent rise in gasoline prices.
Let’s straighten them out on a couple of important things about gasoline prices, which have nothing to do with tax reform.
First, per-barrel costs for crude oil – the No. 1 factor in the cost of producing gasoline and diesel – have risen due to a tighter global oil supply/demand balance and lower inventories compared to last year. Second, with a strong economy, U.S. petroleum demand has run at its highest levels since 2007 and was up by more than 750,000 barrels per day in April, compared with one year ago. Next, as they do every year around Memorial Day, the start of the summer driving season, Americans are traveling more, which could raise demand further. Finally, although gasoline prices have increased recently, they’re still lower than where they were four years ago, largely because of increased domestic oil production.
Posted February 16, 2018
U.S. crude oil production scored a perfect “10” in January – make that 10.2, to be precise, as in 10.2 million barrels per day (mbd). That record production, combined with a new high for refinery throughput and 6.3 mbd of crude oil and refined product exports, narrowed the price difference between U.S. and international crude prices last month and underscored the global impact of U.S. energy. All of this data and more may be found in API’s Monthly Statistical Report for January.
Posted February 1, 2018
– the most in half a century. Three big takeaways: America is stronger and our future is more secure; our industry's technologies are building a better future; and U.S. energy is in it for the long haul.
Posted May 23, 2016
New figures from the U.S. Energy Information Administration show the United States remained the world’s No. 1 producer of oil and natural gas in 2015, a position the U.S. has held since 2012.
Several important points here, supporting the idea that U.S. world energy leadership is a big thing.
First, U.S. production of oil and natural gas grew last year despite continued low prices for crude last year. U.S. output of petroleum and other liquid fuels grew from 14.08 million barrels per day in 2014 to 15.04 million barrels per day in 2015. According to EIA, natural gas production rose from 74.89 billion cubic feet per day (bcf/d) in 2014 to 78.94 bcf/d in 2015, or about 13.99 million barrels of oil equivalent per day.
The second point is the vast majority of U.S. energy production is the result of safe and responsible hydraulic fracturing and modern horizontal drilling – fracking.
Posted May 17, 2016
The United States in 2040 will be more energy self-sufficient, a net energy exporter and a lower source of energy-related carbon emissions as clean-burning natural gas becomes the dominant fuel for generating electricity. The leading energy source 24 years into the future – as they are now – will be oil and natural gas.
So projects the U.S. Energy Information Administration (EIA) in an early look at select data from EIA’s Annual Energy Outlook 2016 report that’s scheduled for full release in July.
The main takeaway from EIA’s “sneak preview” is the importance of the U.S. energy revolution – primarily oil and natural gas developed from shale and other tight-rock formations using safe hydraulic fracturing and modern horizontal drilling. The United States is stronger now and will be in the future thanks to domestic energy from fracking.
Posted April 21, 2016
U.S. Senate passage of energy legislation is an important step forward in the effort to sustain and grow a U.S. energy revolution that’s making America more energy secure, benefiting consumers and helping the environment.
For the first time since the energy renaissance materialized, both houses of Congress have passed bipartisan, comprehensive energy-assisting legislation. The initiatives signal a commitment to matching energy policy with the new U.S. energy reality, one in which the United States is the world’s leading producer of oil and natural gas. They also suggest lawmakers recognize that, on a bipartisan basis, voting Americans support more domestic energy development – as well as candidates who do the same.
Louis Finkel, API executive vice president, talked about the advancing legislation and the opportunities that are being provided by American energy during a conference call with reporters.
Posted April 19, 2016
Some important context before a discussion of a flawed emissions report from EPA, which follows below.
The United States is the world’s No. 1 producer of oil and natural gas – largely thanks to safe and responsible hydraulic fracturing and advanced horizontal drilling. Natural gas production reached a record high level of 79 billion cubic feet per day in 2015, according to the U.S. Energy Information Administration (chart), while total U.S. energy output increased for the sixth consecutive year.
The increased natural gas production and use is critically important, as it is the key factor in reduced carbon emissions during a period of U.S. economic expansion – a break with historic precedent noted by the New York Times. Indeed, the United States is leading the world in carbon emissions reductions, largely thanks to its energy revolution.