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Energy Tomorrow Blog

America’s Energy Revolution Rolls On

oil and natural gas development  fracking  hydraulic fracturing  shale energy  keystone xl pipeline  energy exports 

Mary Leshper

Mary Schaper
Posted September 15, 2014

(Wall Street Journal): Skeptics of the U.S. energy boom say it can't last much longer because it requires drilling an ever-increasing number of wells.

But the boom already has lasted longer than anyone would have imagined just a decade ago and has more room to run. That's because oil and natural-gas wells have become more productive—an unrecognized but potent trend that should keep the fuels flowing.

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Energy Benefits: More American Jobs, Economic Growth, Security

Economy  jobs  Energy Security  american energy  exports  fracking  marcellus  texas 

Mary Leshper

Mary Schaper
Posted September 9, 2014

Platts: US gasoline prices will fall 9-12 cents/gal and prices elsewhere in the world will fall 10-13 cents/gal if current US restrictions on oil exports are dropped next year, a leading Washington think-tank said Tuesday.

"The more the US exports crude oil, the greater decline in gasoline prices," the study from The Brookings Institution's Energy Security Initiative claimed. "As counterintuitive as it may seem, lifting the ban actually lowers gasoline prices by increasing the total amount of crude supply, albeit by only a modest amount."

Brookings' finding are nearly identical to those of a May study from energy consultancy IHS which concluded that free trade of crude would cause US gasoline prices to fall 8-12 cents/gal due to the close link between gasoline and world oil prices.

Like IHS, the Brookings study claimed the impact of crude exports on gasoline prices dulls over time, falling from a 9-12 cent/gal drop in 2015 to 0-10 cents/gal by 2025.

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World Asking for U.S. Leadership on Energy

crude oil  crude oil supplies  energy exports  lng exports 

Mark Green

Mark Green
Posted September 2, 2014

Reuters reports that Washington is hearing from more allies who want the U.S. to lift its ban on crude oil exports, with South Korea and Mexico joining the European Union in pressing the case for U.S. oil. Reuters:

South Korean President Park Geun-hye told a visiting U.S. delegation of lawmakers on the House of Representatives energy committee on Aug. 11 that tapping into the gusher of ultra-light, sweet crude emerging from places like Texas and North Dakota was a priority, the lawmakers said. One of South Korea's leading refiners has opened discussions with the government in Seoul over how to encourage Washington to open the taps, three sources in South Korea with direct knowledge of the matter told Reuters. Mexico is also eagerly awaiting word from the U.S. Department of Commerce on possible shipments and the EU wants U.S. oil and natural gas exports covered by a proposed trade agreement with Washington, the Transatlantic Trade and Investment Partnership.

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Outdated Trade Barriers Limit America’s Energy Potential

energy exports  crude oil  liquefied natural gas  lng  economic growth  trade 

Mark Green

Mark Green
Posted August 8, 2014

The U.S. Commerce Department’s newest trade report released this week shows increased exports of crude oil and petroleum products were a major factor in shrinking the trade deficit in June to $41.5 billion, down from $44.7 billion in May.

That’s great news. Energy exports are helping build America’s economic strength globally while creating jobs and opportunity here at home. America is more secure as a result of our energy revolution that is bringing opportunities to engage world energy markets and harness U.S. energy for good. Allowing more U.S. oil and natural gas exports is the logical course to support and expand America’s global presence.

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Boosting Energy Security, Economy with American Energy

Energy Security  Economy  jobs  american energy  exports  lng exports  engineers  pennsylvania  texas 

Mary Leshper

Mary Schaper
Posted July 31, 2014

Houston Chronicle (Editorial): Fracking is more effective than bullets when it comes to containing Russian President Vladimir Putin's Soviet-era ambitions.

 

Empowered by oil funds and a gas pipeline yoke on Europe, Putin has resuscitated a Cold War ethos of nationalism and expansionism. Yet after the invasion of Crimea and Russian militias seizing sections of eastern Ukraine, it seemed as if Europe's red line was located somewhere a few miles east of the Brandenburg Gate. It took the attack on Malaysia Airlines flight MH17 to finally shock Europe back to reality, where Russia stands as a legitimate threat to a peaceful continent.

 

These aggressive moves have gained Russia few friends, but as Tsar Alexander III once said, Russia's only allies are its army and its navy. For the 21st century, pipelines should be added to that list. And that is where the United States must focus containment efforts.

 

Our allies are far too reliant on Russian pipelines to truly oppose Putin's aggression - there's a reason why the new technology sanctions against Russia don't apply to natural gas.

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American Energy Continues to Generate Opportunity

american energy  exports  jobs  lng  fracking 

Mary Leshper

Mary Schaper
Posted July 24, 2014

The New York Times (Steven Rattner): As a young reporter covering energy for The New York Times, I saw firsthand the distortions and inefficiencies caused by the web of regulations that followed the Arab oil embargo of 1973-74, and the resulting surge in gasoline prices.

So I shared in the frisson of excitement last month when the Commerce Department cleared two Texas companies to export an ultralight, processed form of oil called condensate. It seemed like a step toward relaxing the ban on the export of crude oil, the biggest stricture remaining from the ’70s energy crisis.

But then the Obama administration quickly insisted that the Commerce Department, in narrowing the definition of crude oil so that condensate could be exported, was not about to lift the ban more widely. “There has been no change to our policy on crude oil exports,” a White House spokesman said.

That’s unfortunate, because America’s renewed hydrocarbon boom could be even more robust if we eased outdated restrictions on shipping both crude oil and liquefied natural gas overseas.

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EIA Energy 2014 and Beyond

oil and natural gas development  energy supplies  eia  iea  increased access  energy exports 

Mark Green

Mark Green
Posted July 15, 2014

A couple of highlights from the first day of the U.S. Energy Information Administration’s (EIA) annual energy conference, both of which can be used to underscore the need for policies that help sustain and grow America’s energy revolution.

First, International Energy Agency (IEA) Executive Director Maria van der Hoeven suggested exuberance over the U.S. energy boom has risks because energy security is more than just ample supply:

“In periods of abundance we must challenge ourselves with questions. And so I ask you, is your energy security as security as you or I think? … Energy security is about much more than supply. … Although things look bright at first sight, there’s no time for complacency.”

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Study: Jobs, Economic Growth to States From Crude Exports

crude oil  energy exports  economic benefits  production  global markets 

Mark Green

Mark Green
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.”

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Tapping America's Energy Opportunities

energy exports  lng exports  fracking  emissions  crude oil production  shale energy 

Mary Leshper

Mary Schaper
Posted May 15, 2014

CNBC (Spencer Abraham/Bill Richardson): Once again the world is looking for America's leadership in unsettled times. Our diplomats have limited options to combat Russia's annexation of Crimea, but they can take greater advantage of a new tool in their toolbox that no administration has had for generations — U.S. energy abundance. American energy exports will not only create economic opportunities here at home but will provide strategic geopolitical advantages abroad.

The crisis involving Ukraine and Russia highlights the need for American energy leadership. Russia remains the world's largest exporter of natural gas, supplying 30 percent of Europe's imports. Countries on Russia's periphery, many nearly completely dependent on Russian supply, pay exorbitant oil linked prices. Many are NATO allies.

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Energy Exports – America’s Opportunities

energy exports  lng exports  crude oil  economic growth  keystone xl  oil sands  fracking 

Mark Green

Mark Green
Posted April 4, 2014

Opponents of Natural Gas Exports Have It All Wrong

WSJ MarketWatch (Furchtgott-Roth): Americans opposed to the export of U.S. natural gas give many reasons for their position. But almost all of them are wrong.

The problem is that people underestimate the amount of this country’s natural gas and the potential effect exports could have on the world market.

Russia has swallowed parts of Georgia and Ukraine. No one is proposing that America send soldiers to defend those countries, even though we guaranteed Ukraine’s sovereignty in 1994 under the Budapest Memorandum. Instead, we can help our allies by diminishing Russia’s economic power over them. And that power rests on oil and gas.

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