Energy Tomorrow Blog
Posted October 23, 2019
Given bipartisan consensus on the importance of trade to America and our allies, finalization and approval of the U.S.-Mexico-Canada Agreement (USMCA) in Congress is long overdue. Because North American markets are highly interdependent, maintaining the tariff-free, intracontinental flow of natural gas, oil and refined products will help ensure that American families have continued access to affordable and reliable energy, and to our export markets in Canada and Mexico.
When it comes to the U.S. economy, the advantages of the USMCA are clear. Trade with Canada and Mexico supports 12 million American jobs across every state, according to the Business Roundtable, and totaled nearly $1.3 trillion in 2017. A U.S. International Trade Commission report estimates that approving USMCA could raise real GDP by $68.2 billion and create 176,000 jobs, relative to a baseline, six years after the trade deal enters into force.
Posted October 22, 2019
Safety, security, environmental protection and sustainability in global oil and natural gas operations are the broad objectives of a first-ever partnership between API and the Saudi Standards, Metrology and Quality Organization (SASO) – outlined in a recently signed Technical Collaboration Program.
The new collaboration with the Kingdom of Saudi Arabia on standards development underscores API’s ongoing commitment to help promote these shared goals worldwide through our industry standards programs.
Posted October 18, 2019
There’s nothing more important to our industry than protecting health and safety – of our skilled workers and the communities where they are engaged in supplying Americans with affordable energy for every aspect of modern life and economic well-being.
As energy companies, we know that maintaining the public’s trust and the permission to operate hinge on our ability to work safely and responsibly – caring for the environment, reducing our footprint and continually improving technologies and operations to reduce emissions.
This is the context as we consider a new report on the potential public health effects of natural gas and oil operations by the Colorado Department of Public Health and Environment (CDPHE), using 2015 data to model impacts.
Posted October 17, 2019
A major milestone for U.S. energy trade appears imminent. For the first time in more than 60 years, the U.S. may be a net exporter of total energy – based on API’s estimates in our latest Monthly Statistical Report (MSR).
The MSR shows that the U.S. petroleum trade balance decreased to net imports of just 818,000 barrels per day in September – and that at a time when domestic demand was at its highest level ever. With the U.S. Energy Information Administration (EIA) estimating that U.S. net exports of natural gas last month were 5.5 billion cubic feet per day (bcf/d) – more than 900,000 barrels per day in oil-equivalent energy – that would exceed U.S net imports of crude oil and refined products.
Posted October 16, 2019
Hydraulic fracturing – the technological breakthrough that launched the U.S. energy revolution – has taken a beating during the Democratic presidential derby.
The Washington Post ran a graphic recently, showing that the entire field would ban fracking altogether or restrict it in some capacity. Here’s the portion of the graphic showing the candidates who would ban fracking completely. The group includes some top-tier candidates, U.S. Sens. Elizabeth Warren, Bernie Sanders and Kamala Harris. Sen. Warren tweeted last month that she would ban fracking everywhere, while Sen. Sanders told the Post that safe fracking is a “pure fiction.”
Not fiction are the negative impacts throughout our society that could result from banning hydraulic fracturing: millions of job losses, trillions lost to the economy, significant increases in household spending on energy.
Posted October 15, 2019
Since 1991, October has served as National Energy Awareness Month, recognizing the importance of sustainable resource management and the dedication of the people who enable our energy economy. More recently, this also has highlighted the remarkable role of American resource abundance in strengthening the domestic economy and reducing our dependence on imported energy.
Given that the U.S. is the world’s leading natural gas and oil producer, and is expected to become a net exporter of total energy this year, the story of National Energy Awareness Month is now one of energy security and economic progress – powered, in large part, by innovation and an industrious and tech-savvy workforce.
Posted October 14, 2019
Looking over EPA’s new Greenhouse Gas Reporting Program (GHGRP) data on methane emissions, let’s consider two overarching points:
First, energy from natural gas and oil power and empower America’s modern way of life – better health, greater comforts and conveniences and opportunities for Americans and their families to prosper. No other energy comes close in terms of accessibility, reliability, affordability and useful adaptability across an economy and nation as large and diverse as ours.
Second, as America’s natural gas and oil industry produces the energy we count on every day, it also must continue to capture as much methane as possible from that production, to help the U.S. meet its climate objectives. On both of those leading priorities, our industry is on it.
Posted October 8, 2019
Take a look at a recent interview with API President and CEO Mike Sommers conducted by Albuquerque TV station KOB-4 – a conversation about the dual challenge of providing the energy Americans need every day to work, grow and prosper, while protecting the environment and lowering emissions. There’s no better setting for this discussion than in energy-rich New Mexico.
Indeed, the prolific Permian Basin that covers New Mexico’s southeastern corner before spreading into neighboring Texas is a big reason why the United States continues to lead the world in natural gas and oil production.
Posted October 7, 2019
The U.S. energy revolution is at work for New Mexico and the state’s higher education system.
Gov. Michelle Lujan Grisham made national headlines last month by announcing free tuition at public universities for all residents, regardless of family income. That’s all 29 of the state’s two- and four-year institutions beginning next fall, benefiting an estimated 55,000 New Mexico students.
Thanks to the state’s natural gas and oil development.
Posted October 4, 2019
The latest figures on U.S. crude oil exports show growing U.S. energy leadership, while the continued decline in net oil imports signals strengthened American energy security – with both stemming from the revolution in U.S. production. Charts from the U.S. Energy Information Administration (EIA) help illustrate.
First, EIA reports that U.S. crude oil exports rose to average 2.9 million barrels per day (b/d) in the first half of this year – an increase of 966,000 b/d over the same period in 2018. U.S. crude oil exports set a record in June of 3.2 million b/d, and EIA's graph vividly reflects the sea change in the United States’ oil exporting posture.