Energy Tomorrow Blog
Posted September 18, 2013
Check out the video below of a Fox Business Network interview with API President and CEO Jack Gerard on the tax reform climate in Washington that has some talking about raising taxes on energy companies. The ability to recover the costs associated with finding oil and natural gas in a timely way through the Intangible Drilling Costs provision is especially critical to continuing investments in energy development, Gerard says.
Posted September 11, 2013
Obama Administration Allows More natural Gas Exports
Fuel Fix Blog: The Obama administration on Wednesday authorized a fourth company to broadly export U.S. natural gas, giving Dominion conditional approval to sell the fossil fuel abroad after processing it at a Maryland facility.
The Energy Department’s decision means that as long as it secures other required permits, Dominion Cove Point will be able to sell as much as 770 million cubic feet of natural gas per day for the next 20 years to Japan and other countries that do not have free-trade agreements with the United States.
With the Dominion Cove Point decision, the Obama administration has now authorized 6.37 billion cubic feet of liquefied natural gas to be sold to non-free-trade nations.
Read more: http://bit.ly/17QBo0W
Posted July 22, 2013
Think of Anadarko Petroleum’s Lucius spar, the steel tube that will support the company’s newest Gulf of Mexico production platform, as a soda can floating in the ocean. A 23,000-ton soda can.
Company officials showed off the spar earlier this month at Kiewit Offshore Service’s fabrication yard in Ingleside, Texas, across the bay from Corpus Christi.
Posted July 19, 2013
Associated Press – Study Finds Fracking Chemicals Didn’t Contaminate Drinking Water
AP reports that the federal study on hydraulic fracturing found no evidence chemicals used in hydraulic fracturing moved up to taint drinking water aquifers at a western Pennsylvania drilling site. After a year of study researchers found chemicals in fracking fluids used to free trapped natural gas stayed thousands of feet below areas that supply drinking water.
Posted July 16, 2013
Carpe Diem – North Dakota Sets Another Oil Production Record
Blogger Mark Perry comments on the latest oil production figures from North Dakota: 810,314 barrels per day in May – the 10th month in a row the state as pumped more than 700,000 bpd. Production increased almost 26 percent over May 2012, thanks to booming production from the Bakken shale.
Posted June 5, 2013
Ernst & Young has a new study detailing $185.6 billion in total capital spending by oil and natural gas companies last year – the largest in the history of the firm’s oil and natural gas reserves study. Marcela Donadio of Ernst & Young:
The study of U.S. upstream (pre-refinery stage) capital spending by the 50 largest companies (based on 2012 end-of-year oil and natural gas reserve estimates) found a 20 percent increase compared to 2011. Ernst & Young said the increase was largely due to increased tight oil and liquids activity. That refers to development in tight-rock formations, made possible by hydraulic fracturing and horizontal drilling.
“The increased exploration and development spend we’re seeing in this year’s study speaks to the incredible opportunity unfolding in tight oil from shale formations and the high cost of developing these unconventional resources.”
Posted May 31, 2013
The U.S. Energy Information Administration has a new report that details the decline in sales of oil and natural gas from production on federal lands (2003-2012). Key points:
- Sales of crude oil from federal lands, onshore and offshore, decreased 5 percent in fiscal year 2012 (ended Sept. 30) to 596 million barrels from 629 million barrels in FY 2011. That includes an 8-percent decrease in offshore volumes, partially offset by an 8-percent increase in much smaller onshore volumes.
- Natural gas sales from federal lands decreased 7 percent in FY 2012 to 4,262 billion cubic feet (bcf) from 4,584 bcf in FY 2011. Offshore volumes were down 19 percent, while onshore was virtually unchanged.
- Sales of all fossil fuels produced on federal lands (also including coal and natural gas plant liquids) fell by 4 percent in FY 2012.
Posted May 2, 2013
“I think the biggest misconception is that not much has been done, when there has been a tremendous amount of effort by the industry and by regulators in moving this forward. … There has been more collaboration, cooperation and improvement in working together to make things better than I think we have ever done before.”
Posted April 26, 2013
Take a look at the map below, one we’ve used before to show the vastness of America’s offshore oil and natural gas reserves – the overwhelming majority of which (in red) that’s off-limits for development.
Posted April 18, 2013
A "consensus has concluded that EPA fuel standards are sorely at odds with the interests of fuel and food consumers in the United States,” writes contributor Robert Bradley. “The direct economic cost of implementing and enforcing these fuel standards far outweighs the questionable benefits."
The Washington Post – Keystone XL Opposition Wanes Among Nebraska Landowners
With the Keystone XL debate set to head back to Nebraska today, the Post reports that folks in the state “largely support the pipeline project.”