Energy Tomorrow Blog
Posted June 16, 2014
This week the Senate’s Energy and Natural Resources Committee is scheduled to vote on bipartisan legislation that would advance the long-delayed Keystone XL pipeline – a $5.3 billion, privately financed infrastructure project that the U.S. State Department says would generate more than 42,000 jobs during its construction phase while contributing more than $3 billion to our economy.
Congress is acting because the administration has not – not in more than five years of review by the administration, during which the project has cleared five environmental reviews by the State Department. Congressional leadership on Keystone XL is about the administration’s lack of clear leadership on the Keystone XL.
As the vote approaches, API President and CEO Jack Gerard and Sean McGarvey, president of the Building and Construction Trades Department of the AFL-CIO, talked about the pipeline during a conference call. Both pointed to developments in Iraq and the ongoing standoff between Ukraine and Russia as reminders of how important it is for the United States to secure its energy future – and the significance of the Keystone XL in that equation.
Posted June 16, 2014
FT.com – Despite jitters over Iraq, the price of oil is at its most stable since the early 1970s, as a huge increase in US oil production offsets massive disruptions to supply from places such as Libya, according to BP.
Christof Rühl, group chief economist, said the world had seen a cumulative 3m barrels a day of supply disruption since the start of the 2011 Arab uprising but that had been “cancelled out” by a similar extra amount of US production.
“There has been an almost perfect match between outages in north Africa and elsewhere and US production growth,” he said. The equilibrium had created an “eerie quiet” in global oil markets.
Posted June 13, 2014
Senate Energy and Natural Resources Committee Chairman Mary Landrieu says her panel will have a vote next week on the Keystone XL pipeline – now in its sixth year of federal review. The announcement prompted this statement from the office of Sen. Mark Udall of Colorado:
“If the Keystone XL pipeline were being routed through our state, Coloradans would want to know the decision was being made on the merits — and not congressional meddling. … That’s why Sen. Udall intends to again reject the notion that lawmakers know better than the engineers, scientists and experts whose responsibility it is to evaluate the pipeline application on its merits.”
Which is wrong, wrong, wrong.
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 16, 2014
Add the International Brotherhood of Electrical Workers (IBEW) to the list of American working men and women who want President Obama to approve the Keystone XL pipeline for construction. The Washington Examiner reports that IBEW President Edwin Hill sent letters to a number of Democratic senators, urging the pipeline’s construction. The Examiner quotes from Hill’s letter:
“At a time when job creation should be a top priority, the KXL pipeline project will put Americans back to work and have ripple benefits throughout the economy. … From pipe manufactured in Arkansas, to pump motors assembled in Ohio and transformers built in Pennsylvania, workers from all over the United States will benefit from the project. … Although America is slowly recovering from the worst recession since the Great Depression, unemployment rates remain high, especially in the construction industry.”
Americans in the construction trades look at the Keystone XL as more than a job – it’s a lifeline for people who’ve seen their work recover slowly from the recent recession.
Posted May 16, 2014
Bloomberg: Dominion Resources (D) Inc.’s plan to export liquefied natural gas cleared a U.S. environmental review, a key step toward final approval as supporters in Congress seek to expedite overseas shipments of the fuel.
U.S. Federal Energy Regulatory Commission approval of Dominion’s proposed Cove Point project on Maryland’s Chesapeake Bay would have “no significant impact” on the environment, as long as proper measures are taken, the staff said today in an environmental assessment.
The full commission is scheduled to issue a final decision on Cove Point by Aug. 13. Cheniere Energy Inc. (LNG)’s Sabine Pass is the only U.S. project so far to win approval from the FERC and Energy Department.
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 May 2, 2014
The number of direct jobs in oil and natural gas extraction has grown 7.2 percent since April last year, more than four times the growth rate in all U.S. jobs, according to BLS. The word for that kind of growth – in the midst of an economy still trying to heat up – is wow!
Now, keep in mind that the BLS data line for “oil and gas extraction” covers only part of industry’s upstream (pre-refining) segment. Scroll down a few lines in this BLS table to find direct jobs supporting oil and natural gas operations – such as building and dismantling field rigs, core drilling services, hydraulic fracturing services and much more – and you see dynamic growth there as well, 6.3 percent from April last year through March, the most recent data month available. Wow again.
Posted April 30, 2014
Albany Business Review: Some New York farmers, particularly those living in the state's Southern Tier, are in favor of high-volume hydraulic fracturing. Steuben County dairy farmer Terry Waters, 60, said it would "pull us out of the hole."
As farmers like Waters continue to face financial hardship due to rising costs, they are seeing their counterparts in Pennsylvania benefiting from the natural gas resources located underneath their properties.
Posted April 28, 2014