Energy Tomorrow Blog
Posted May 29, 2014
Individual states would see significant job creation and economic growth from exporting U.S. crude oil, according to anew state-by-state report by ICF International and EnSys Energy. Specifically, 18 states could realize more than 5,000 new jobs each in 2020 from crude oil exports, with state economies growing by hundreds of millions of dollars each.
Kyle Isakower, API vice president for regulatory and economic policy, talked about the study during a conference call with reporters:
“There is a growing realization that this is a new era for American energy. Scarcity is giving way to abundance, and restrictions on exports only limit our potential as a global energy superpower. Additional exports could prompt higher production, generate savings for consumers, and bring more jobs to America. The economic benefits are well-established, and policymakers are right to reexamine 1970s-era trade restrictions that no longer make sense.”
Posted May 23, 2014
There have been some really interesting reactions to this week’s Los Angeles Times story on an upcoming federal report that the Times said will significantly lower the estimated amount of recoverable oil in California’s vast Monterey Shale play, believed to be the nation’s largest shale play.
Opponents of domestic oil production, which is helping drive an energy renaissance in the United States, rejoiced. One group said billions of barrels of oil just went poof! – like some sleight-of-hand trick. Someone else posted a fairly tone-deaf tweet, that California’s economic boom from shale production was being crushed. (“Let’s hear it for lost economic opportunity!”)
Others – folks who know the oil and natural gas industry and who understand how “recoverable” reserves are calculated – had different takes. You have to, especially when you think about all that’s been learned over the history of U.S. oil and natural gas development.
Posted May 22, 2014
Energy and economic prosperity go together – on that most Americans agree. New polling finds strong majorities ofregistered voters connect exporting natural gas and new job creation, trade deficit reduction and a stronger economy.
The results mirror findings in other recent surveys on energy infrastructure investment and construction of the Keystone XL pipeline. All together, they tell decision makers to choose pro-energy development and investment policies to put more Americans to work and to make America stronger in the world today.
Posted May 22, 2014
Here’s another one of our new videos – featuring residents of Colorado’s Weld County, where significant oil and natural gas development is occurring thanks to shale reserves and advanced hydraulic fracturing and horizontal drilling.
Posted May 21, 2014
In Ohio, they’re seeing the benefits of oil and natural gas development with advanced hydraulic fracturing and horizontal drilling. This “unconventional” activity generated more than $910 million in state and local taxes in 2012 – a number that should grow as development accelerates in the Utica shale that sweeps across the eastern part of the state.
In the video below, residents of Carroll County, located just southeast of Canton, talk about oil and natural gas benefits where they live.
Posted May 20, 2014
Last week’s finding by federal regulators that a proposed liquefied natural gas (LNG) exporting project in southern Maryland would pose “no significant impact” on the environmental is great news for the local and state economy, as well as for the United States, when it comes to broader trade and economic benefits from exporting U.S. LNG. Let’s hope the commission quickly follows up to approve the $3.8 billion project at Cove Point, Md.
Diane Leopold, president of Dominion Energy, which owns the existing LNG import facility (left) where the export project is planned:
“This marks another important step forward in a project that has very significant economic benefits and helps two allied nations in their efforts to increase their energy security and reduce their greenhouse gas emissions. … The Cove Point LNG facility has been in existence for nearly 40 years and this makes the most of existing facilities. This project will be built within the existing footprint and fence line of an industrial site. There is no need for additional pipelines, storage tanks or permanent piers, thus limiting its impact and making an environmental assessment appropriate.”
Posted May 13, 2014
Opportunity, jobs, investment, economic growth – all are in the balance as America chooses it course on energy development. Thanks to the U.S. energy revolution, built on surging production of oil and natural gas from shale and other tight-rock formations, for the first time in decades Americans can choose the energy narrative instead of having it dictated to them.
These themes were highlighted during “The Great Energy Debate” hosted by Politico. With congressional mid-term elections coming this fall, the discussion is timely and so very important to what could be an historic choice.
Posted April 28, 2014
Virginia is for lovers – of domestic oil and natural gas production and investments in energy infrastructure. That’s what you see in a recent Harris Poll of registered voters in the commonwealth: Strong support for developing domestic oil and natural gas, including offshore reserves, as well as increased spending on infrastructure.
Some of the numbers:
- 80 percent support increased production of domestic oil and natural gas reserves. Just 11 percent oppose.
- 89 percent support increased development of U.S. energy infrastructure.
- 94 percent agree increased domestic oil and natural gas output could help strengthen America’s energy security.
- 91 percent agree increased domestic oil and natural gas production could help stimulate the economy.
And so it goes – with similar, slam-dunk margins on other questions, from benefits to U.S. consumers to economic growth.
Posted March 12, 2014
I had an interesting – and very timely – conversation with the first group of API Fellows last week at IHS CERA’s mega-energy conference in Houston. Interesting – because these highly motivated men and women surely will be part of the next generation of industry leaders Timely, because a new IHS study projects great industry opportunities in the future for minorities and women.
Posted February 4, 2014
President Obama is taking issue with the number of jobs the Keystone XL pipeline would support during its construction phase – 42,100, according to the U.S. State Department environmental review issued last week. During an interview with Fox News’ Bill O’Reilly taped Sunday, the president interrupted when O’Reilly brought up Keystone XL and its potential economic impact:
“Well, first of all, it’s not 42,000. That’s – that’s not correct. It’s a couple of thousand to build the pipeline.”
The remark echoed what the president said to the New York Times last summer and also a line in an economic speech he delivered in Tennessee a few days later – each looking askance at the Keystone XL’s job-creating potential.
With all due respect, 42,100 is the Obama administration’s number – the number of jobs the president’s State Department estimates Keystone XL would support across the U.S. while the pipeline is being built.