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Energy Tomorrow Blog

Virginia Wants Offshore Drilling

access  domestic energy  government revenue  offshore drilling  virginia 

Jane Van Ryan

Jane Van Ryan
Posted December 31, 2009

Breaking from his predecessor, Virginia's Governor-elect Bob McDonnell sent a letter to Interior Secretary Salazar, asking the administration to move forward with a scheduled offshore lease sale in 2011. McDonnell says "offshore energy exploration and production will be a priority" during his four-year term as governor. The Commonwealth's current Gov. Tim Kaine sought to delay the lease sale. 

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Oil and Natural Gas Industry - Jobs Are Us

access  domestic energy  energy policy  government revenue 

Jane Van Ryan

Jane Van Ryan
Posted December 2, 2009

The numbers tell the story. The official U.S. unemployment rate stands at 10.2 percent but is believed to be closer to 20 percent. Economic analysts say that the country will pull itself out of the recession, but it's likely unemployment levels could remain high. Meanwhile, as the holidays approach, consumers are pinching pennies and worrying about an uncertain future, which could dampen their holiday festivities as well as the sales expectations of the nation's retailers.

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Earnings: A Mixed Bag

earnings  oil companies  oil company earnings  revenue  downstream  upstream 

Jane Van Ryan

Jane Van Ryan
Posted November 6, 2009

Eighteen oil and natural gas companies had reported their third quarter 2009 earnings as of yesterday afternoon, and the results have been a mixed bag. Companies that focus on oil and natural gas production--also called the upstream sector of the business--experienced a better financial quarter than large integrated companies that have both upstream and downstream operations--refining and marketing. The companies that fared worst are in the downstream portion of the business, and some of them actually lost money. 

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Riviera of the West

domestic energy  government revenue  offshore drilling  technology innovation 

Jane Van Ryan

Jane Van Ryan
Posted September 28, 2009

Architect Joesph Linesch (1924-1996) had a vision for Long Beach, California--to become the Riviera of the West, a nearly fantasy-like harbor rivaling the buildings and landscapes he designed for Disneyland and Epcot Center. Between 1965 and 1968, he created structures and landscaping that make the oil production facilities here look like a high-end condominium complex

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Terminating Royalty-in-Kind

energy  energy policy  revenue  royalties  royalty-in-kind 

Mark Green

Mark Green
Posted September 16, 2009

Today, U.S. Interior Secretary Ken Salazar announced that he would terminate the Royalty-in-Kind (RIK) program, which collected $6.6 billion in oil and gas deliveries in fiscal 2008, and is one of the government's largest sources of non-tax revenue. The program is an effective means of ensuring that the American people receive fair compensation for development of federal resources.

Terminating this straight-forward method of handling royalty payments runs the risk of raising administrative costs and adding additional layers of paperwork required to determine the value of oil and gas production. The Minerals Management Service itself noted administrative efficiencies brought on by the program, and pointed out that another benefit of RIK is the reduction in costly lawsuits tied to product valuation.

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An Energy Partnership with Canada

canada  domestic energy  energy  energy policy  oil sands  revenue 

Mark Green

Mark Green
Posted September 16, 2009

This week, Canadian Prime Minister Stephen Harper will visit the United States, and high on the agenda in discussions with President Obama should be our country's energy partnership with Canada.

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New Study: Oil and Natural Gas Industry Vital to the Economy

access  domestic energy  energy  energy policy  energy taxes  pricewaterhousecoopers  revenue  taxes 

Jane Van Ryan

Jane Van Ryan
Posted September 9, 2009

A new PricewaterhouseCoopers (PwC) study released today found that the U.S. oil and natural gas industry supports more than 9 million American jobs and makes significant economic contributions as an employer and purchaser of American goods and services. 

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Halting Proven Energy Technologies?

domestic energy  energy  energy development  hydraulic fracturing  over regulation  revenue  technology 

Jane Van Ryan

Jane Van Ryan
Posted July 29, 2009

In a recent Houston Chronicle op-ed, Richard Burleson, managing partner of Houston-based and energy-focused law firm Burleson Cooke L.L.P., cautions the administration and Congress against over-regulating hydraulic fracturing. As we've explained in this blog, hydraulic fracturing is a process where fluid is pumped under pressure down through the wellbore to make tiny fissures in the rock, allowing natural gas and oil to flow more easily up through the well. 

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Better than Winning the Lottery

domestic energy  energy  natural gas  revenue  taxes 

Jane Van Ryan

Jane Van Ryan
Posted July 28, 2009

Pennsylvanians are sitting on a buried treasure. It's called the Marcellus Shale formation, and a new study quantifies its potential impact on the state's economy and jobs. According to the study, the state's economy will receive an infusion of $14.17 billion in 2010 due to Marcellus Shale natural gas development, creating more than 98,000 jobs and generating $800 million in state and local tax revenue. 

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