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Energy Tomorrow Blog

Energy is Driving Business and Jobs Booms

american energy  hydraulic fracturing  fracking  keystone xl pipeline 

Mary Leshper

Mary Schaper
Posted June 24, 2014

Smithsonian.com Magazine: The shale gas boom, spurred by fracking and horizontal drilling, is bigger than anyone thought it would be. According to the U.S. Energy Information Administration, natural gas derived from shale now makes up a full half of U.S. natural gas production, says Scientific American. Shale gas wasn't supposed to make up such a large portion of our gas supply for another ten to twenty years.

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Innovation and Technology Boost U.S. Oil and Natural Gas Development

american energy  jobs  Economy  Energy Security  hydraulic fracturing  fracking  innovation  technology 

Mary Leshper

Mary Schaper
Posted June 23, 2014

CNBC (U.S. Rep. Fred Upton): Millions of vacationing families will be hitting the highways this summer where, for the fourth year in a row, they'll face gas prices above $3.50 a gallon. Prices are already closing in on $4 a gallon, and the political upheaval in Iraq threatens to push them even higher. Costly fill-ups may seem like the new normal, but they do not have to be. The right energy policies can help ease future pain at the pump, as well as on the monthly electric bill, and for goods on store shelves. Even better, these policies can create new jobs in the process. Indeed, we can unleash the benefits of the American energy superpower — but only if the Obama administration embraces our potential.

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Affordable, Abundant Natural Gas is Transforming the U.S. Energy Landscape

american energy  hydraulic fracturing  fracking  global energy  jobs 

Mary Leshper

Mary Schaper
Posted June 13, 2014

Business Insider: Brent oil futures briefly began approaching $115 this morning, the highest level in nine months, as fears that Iraq is disintegrating spooked markets.

Crude is now up about 4% on the week. When prices stay at this level for this long, U.S. gas prices start creeping up. 

But what about all the oil the U.S. has been producing the last few years? Shouldn't we be insulated from whatever oil is doing?

Unfortunately, the answer is no. Gasoline prices are set on the global market, and refiners everywhere ship product to wherever they can get the best quote. So for better or worse, raw gasoline prices mostly move in lockstep around the world. The primary contract for gasoline is called RBOB. 

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Domestic Energy Production is Fueling Growth

american energy  Economy  jobs  Energy Security  imports  growth 

Mary Leshper

Mary Schaper
Posted June 12, 2014

Bloomberg News: U.S. fuel imports fell to a 15-year seasonal low as refineries processed increasing domestic crude output, moving the nation closer to energy independence.

Deliveries slid 653,000 barrels a day to 1.68 million in the week ended June 6, the fewest for the period since 1999, the Energy Information Administration data showed today. The 28 percent drop was the biggest decline since the week ended June 18, 2013. Fuel imports peaked at 4.97 million barrels a day in October 2005.

“There’s a change in the dynamic,” said Phil Flynn, a senior market analyst at Price Futures Group in Chicago. “We’re not going to stop importing products but the overall number should move lower. We’re turning into a hub where products are both imported and exported based on price.”

Shipments to the U.S. from abroad have dropped as the shale boom provided refiners with an ample supply of cheaper domestic crude to make fuel. West Texas Intermediate, the U.S. benchmark crude, has traded at an average discount of $12 to Brent oil from the North Sea over the past four years. WTI traded at an average premium of more than $1 to the European grade from 1988 to 2008.

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American Energy’s Global Impacts

american energy  Energy Security  Economy  jobs  global energy  global markets 

Mary Leshper

Mary Schaper
Posted June 9, 2014

Wall Street Journal (Joseph Nye): HOUSTON — The United States produced enough energy to satisfy 84 percent of its needs in 2013, a rapid climb from its historic low in 2005, according to a report from the U.S. Energy Information Administration.

The nation produced 81.7 quadrillion British thermal units of energy last year and consumed 97.5 quadrillion, the highest ratio since 1987. The nation’s energy output rose 18 percent from 2005 to 2013, as a surge in oil and gas production offset declines in coal. Meanwhile, its total energy used fell 2.7 percent during that period.

The nation’s ability to meet its own energy needs hit an all-time low in 2005, when the amount of energy produced domestically met just 69 percent of demand. The last time the United States’ energy production exceeded its energy use was in the 1950s, according to the Energy Information Administration, an agency of the Energy Department.

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Energy from Shale Continues to Boost U.S. Economy, Energy Security

Economy  Energy Security  Environment  jobs  fracking  alaska  crude oil 

Mary Leshper

Mary Schaper
Posted June 6, 2014

UPI: WASHINGTON --Strong growth in onshore U.S. oil and gas production means fewer problems from hurricanes, the analytical arm of the U.S. Energy Department said Wednesday.

Sunday marked the start of the Atlantic hurricane season. As of Wednesday, there are no cyclones reported in the Atlantic Ocean, though Tropical Storm Boris is headed north from the Yucatan Peninsula of Mexico at a rate of 5 miles per hour.

Though offshore oil and gas installations may be shut in by any major storm in the Atlantic, EIA said inland production could make up for any shortfall.

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Technology, U.S. Energy Resurgence Driving Manufacturing, Job Growth

american energy  manufacturing  jobs  hydraulic fracturing  fracking  lng exports  alaska  north carolina 

Mary Leshper

Mary Schaper
Posted June 5, 2014

The Wall Street Journal (ROBERT PROFUSEK): Since the 1970s, multinational companies regularly relocated manufacturing outside the U.S., chasing what GE’s Jeff Immelt coined “labor arbitrage,” and the conventional wisdom was that U.S. manufacturing was heading to an inexorable death. The conventional wisdom has, however, proven untrue, as so often is the case.

Some of the reasons for the rebirth of manufacturing in the U.S. were the inevitable consequences of the rapid rise in industrialization in emerging market countries–think of the pollution and daily rolling brownouts in India, labor unrest and increased wage and work rule demands in China and unpredictable legal systems in many emerging market countries. But the fundamental factor driving manufacturing back to the U.S. is technology–computers and robots have further eroded the labor arbitrage, and the U.S. is the undeniable global leader in technology and innovation. At the same time, the U.S. is in the midst of an energy boom, itself technology-enabled, producing an enormous cost and reliability advantages. While this particular advantage can be expected to diminish over time, it is real and the catch-up time is likely to be long, as evidenced by China’s inability to date to exploit its own shale gas reserves cost-effectively.

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U.S. Emissions Have Dropped and Manufacturing is More Competitive – Thanks to Natural Gas

american energy  fracking  hydraulic fracturing  Environment  emissions  manufacturing  jobs 

Mary Leshper

Mary Schaper
Posted June 4, 2014

EIA Today in Energy: U.S. energy-related carbon dioxide (CO2) emissions in 2013 were 10% below the benchmark year of 2005. Emissions in 2013 were roughly 2% above their 2012 level and 1.5% below their 2011 level, when emissions were 8.6% below the 2005 level. Recently released state-level data through 2011, calculated from the State Energy Data System (SEDS) and aggregated here by Census regions, show different parts of the country generally experiencing this downward trend, but at variable rates by region.

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American Energy is Making U.S. More Free, Prosperous

Energy Security  american energy  Economy  jobs  fracking  lng exports 

Mary Leshper

Mary Schaper
Posted June 2, 2014

EIA Today in Energy: Total U.S. energy production reached 81.7 quadrillion British thermal units (quads) in 2013, enough to satisfy 84% of total U.S. energy demand, which totaled 97.5 quads. Natural gas was the largest domestically produced energy resource for the third year in a row and, together with the other fossil fuels (coal, crude oil, and hydrocarbon gas liquids), accounted for more than three quarters of U.S. energy production. In total, the United States consumed 97.5 quads of energy, 82% of which was fossil fuels. Renewable and nuclear energy made up 10% and 8%, respectively, of U.S. energy consumption.

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Economic Growth, Jobs, Opportunity – Thanks to American Energy

american energy  jobs  Economy  fracking  lng exports  exports  Energy Security 

Mary Leshper

Mary Schaper
Posted May 30, 2014

The Hill: The Department of Energy (DOE) released two reports Thursday with favorable conclusions about the environmental impacts of exporting liquefied natural gas (LNG).

The department said it is not “reasonably foreseeable” that there would be any domestic environmental impacts from the increased natural gas drilling and hydraulic fracturing, or fracking. And in Europe and Asia, the natural gas would have much lower greenhouse gas emissions than coal when used for power generation.

The DOE is publishing the reports to gather comments on them and eventually use them in determining whether individual LNG export applications are in the country’s interest. Neither report is required by law, the agency said.

The reports came the same day the DOE proposed a new, streamlined process for considering applications to export LNG to countries with which the United States does not have a free trade agreement.

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