Energy Tomorrow Blog
‘This Unique American Moment’
state of american energy american energy oil and natural gas development economic benefits infrastructure american petroleum institute
Mark Green
Posted January 6, 2015
The U.S. energy revolution is fundamentally empowering. There’s no better word for it. Because of resurgent American energy, our country has choices where the horizon once was filled with energy-based limitations.
Because domestic energy is more abundant, Americans have renewed mobility – literally, in the form of cheaper gasoline that’s largely the result of U.S. crude oil impacting global markets and economically, because of oil and natural gas industry-supported job creation and investment, and a manufacturing renaissance spurred by affordable fuels and feedstocks.
No less important: The United States is more secure in the world because we’re much less dependent on energy from adversarial sources. America's all-of-the-above energy potential is a powerful opportunity for the nation.
This is a special moment in U.S. history, the dawn of a new energy-driven reality that could sustain and grow American prosperity here at home and America’s influence in the world. It could – if we seize it.
Throughout his annual State of American Energy address, API President and CEO Jack Gerard struck the positive chords of possibility in an American energy era – possibilities dependent on our national leadership’s ability to support “smart, responsible and forward-looking energy policies that promote economic growth, job creation and U.S. energy security and leadership.”
State of American Energy 2015
american energy oil and natural gas development domestic production energy policy hydraulic fracturing horizontal drilling safe operations
Mark Green
Posted January 5, 2015
We’ve got an energy revolution taking place in this country, but can we keep it going – and even better, can we increase it?
These and more will be the focus of the State of American Energy event on Tuesday from Washington D.C. You can watch the event live here beginning at 12:15 p.m. Eastern. Join in the conversation on Twitter using the hashtag #SOAE2015.
2014 in Energy Charts
access crude crude markets domestic energy e15 economic benefits emissions energy regulation epa fracking gasoline prices global markets horizontal drilling hydraulic fracturing methane emissions offshore access oil and natural gas development ozone regulation renewable fuel standard
Mark Green
Posted December 31, 2014
So long, 2014. From an energy standpoint, you’ll be missed. Let’s count the ways:
Surging domestic oil and natural gas production – largely thanks to safe hydraulic fracturing and horizontal drilling – is driving an American energy revolution that’s creating jobs here at home and greater security for the United States in the world.
It’s a revolution with macro-economic and geopolitical impacts, for sure. But it’s also a revolution that’s benefit virtually every American.
Policy Choices to Fuel America’s Energy Revolution
energy policy oil and natural gas development regulation epa hydraulic fracturing horizontal drilling energy exports keystone xl pipeline proved reserves
Mark Green
Posted December 30, 2014
The House Energy and Commerce Committee published a 105-page strategy document meant to highlight the agenda of the incoming Republican-led Congress. It says federal policies are ill-suited to develop the infrastructure needed to take advantage of the oil and gas production boost in the United States.
"Creating this architecture of abundance is slowed at every step by archaic federal rules that can cause years of delays and even block some pipeline and power line projects outright," the paper reads.
Rep. Fred Upton, the committee's chairman, said the new Congress would work to advance its blueprint when it comes into power in January.
Shale Energy, Economic Growth, Declining Imports
domestic energy oil and natural gas development economic benefits government revenues eia oil imports access regulation fracking
Mark Green
Posted December 10, 2014
Two U.S. energy production updates and a new Congressional Budget Office (CBO) report showing the economic impacts of America’s shale energy revolution – which is driving overall U.S. production.
A chart from energy/economics blogger Mark J. Perry shows the impact of U.S. energy production on energy imports – measuring net petroleum imports as a share of products supplied. The chart shows steady increases in imports from the mid-1980s to an apex of more than 60 percent in 2005. Today, we’re looking at a percentage share that’s as low as it has been in four decades.
More Access to Keep U.S. Energy Revolution Rolling
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Mark Green
Posted December 4, 2014
One key to sustaining and growing the ongoing U.S. energy revolution is to increase access to America’s oil and natural gas reserves – specifically, gaining more access to reserves under federal control, onshore and offshore.
And a revolution is what we’re seeing. According to the U.S. Energy Information Administration (EIA), domestic crude output topped 9 million barrels per day for the fourth week in a row, a production level not seen since the mid-1980s.
As great as that news is, it could be better because America’s energy production growth – generating new jobs, growing the economy and increasing our energy security – is occurring on state and private lands. More access to reserves in federal areas would help expand the revolution, generating even more benefits.
Energy – For Security, Greater Prosperity
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Mark Green
Posted December 2, 2014
U.S. News (Lamont Colucci): OPEC met on Nov. 27, and openly recognized that the United States' oil technological revolution – driven by enhanced oil recovery methods including hydraulic fracturing (known as fracking) and horizontal drilling – has undermined the cartel's economic and political power. This constitutes one of the major geopolitical and economic shifts of the 21st century in America’s favor. This meeting has been characterized as OPEC abandoning its role as a “swing producer” or simply the arbiter of oil supply and demand. Some are now suggesting that the new swing producer will be the United States.
Enhanced oil recovery technology was consistently denigrated as unworkable and unprofitable, and there will be many more articles restating this as the old wine in a new bottle. These technologies have made the U.S. the world's number one oil producer, surpassing Saudi Arabia and Russia. OPEC’s strategy of allowing the market to decide oil prices is designed to hurt American enhanced oil recovery activities, with the assumption that American producers need a higher profit margin per barrel than it does. This may be a horrible miscalculation on OPEC's part due to continual advances in technology and innovation.
According to a 2013 report, hydraulic fracking and horizontal drilling have the potential to increase the global reserve of oil from 1.6 billion barrels to 10.2 billion barrels. Domestically, we are already witnessing the 21st century oil boom generate prosperity for states like Colorado, Oklahoma, North Dakota, Texas, West Virginia and Wyoming. Current estimates indicate that by 2020 the United States will be the dominant worldwide producer of both natural gas and oil and achieve energy independence.
However, this energy issue has been dominated by the wrong people: economists, businessmen, engineers and environmentalists. They all have their required expertise, but all of this is really an issue of foreign policy and national security. There are four ways that this new situation can be welcomed by conservatives, liberals, realists and environmentalists.
Energy and Leadership
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Mark Green
Posted December 1, 2014
There’s a new global energy order – with the United States at the hub. That’s the assessment in a number of articles following last week’s meeting of oil-exporting countries.
The benefits to America are manifold. The U.S. as global energy’s new center of gravity means economic strength here at home through jobs, consumer benefits and greater energy security, and the opportunity to project positive American values abroad – by impacting global markets as discussed above and by helping friends overseas through energy exports. All result from America’s energy revolution, built on safe development of oil and natural gas reserves from shale and other tight-rock with advanced hydraulic fracturing and horizontal drilling.
The NY Times’ Hot Air on Methane
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Mark Green
Posted November 26, 2014
The New York Times has an editorial urging Washington to regulate emissions of methane – no surprise as “The Gray Lady” has to uphold her “green” bonafides. But methane as an “overlooked” greenhouse gas, as the editorial’s headline states? Hardly.
While the Times may have just discovered methane, industry has been working to reduce emissions – and is succeeding, at a rate that casts doubt on the need for a new federal regulatory layer.
The Popular Case for the Keystone XL Pipeline
keystone xl pipeline canadian oil sands american energy economic security economic growth job creation crude prices hydraulic fracturing horizontal drilling oil and natural gas development
Mark Green
Posted November 14, 2014
The Fix (Washington Post): President Obama is fond of telling Congress that it should pass things with the overwhelming support of the American people, including (among other things) comprehensive immigration reform, increasing the minimum wage, and increasing gun background checks.
And yet, Obama could soon be in a position of vetoing something with a similar amount of support: the Keystone XL pipeline.
Poll after poll has shown support for Keystone is somewhere between very strong and overwhelming. A Pew Research Center survey this month showed support for the project at nearly two-to-one, 59 percent to 31 percent. And that was about the lowest level of support we've seen to date. Support has registered as high as two-thirds of Americans.