Energy Tomorrow Blog
Posted May 10, 2018
The facts that crude oil prices are up 9 percent since the end of March and that crude oil currently accounts for 57 percent of the consumer’s price for gasolinemean that consumers have felt the impact at the pump of relatively large and sudden changes. As domestic crude oil prices recently increased above $70 per barrel for the first time since November 2014, let’s revisit current oil market fundamentals and other factors that have elevated prices.
By understanding the drivers of prices, American consumers may be more aware of how U.S. policy outcomes – such as more domestic natural gas and oil production, a strong U.S. dollar, low price inflation, avoidance of tariffs, quotas and other protectionist measures that undermine free trade, and peaceful international relations – could help put downward pressure on crude prices that ultimately benefits consumers.
Posted May 2, 2018
The most recent federal Gulf of Mexico oil and natural gas lease sale was described in some media reports as “disappointing,” “modest” and “tepid.” But there’s another, more positive way to look at it.
First, every offshore lease sale the federal government holds is welcome by industry, because each represents new opportunity for the market to work as it should – with companies making investment decisions based on the potential for significant natural gas and oil production.
A more important point underscored with the Gulf sale is one we’ve been making for some time – that the federal government needs to make available new offshore areas for study, research, exploration and development.
Posted January 29, 2018
Posted January 25, 2018
Posted November 1, 2017
Posted November 1, 2017
A sensible, safe and forward-looking offshore energy strategy – one that acknowledges that keeping 94 percent of federal offshore acreage off limits to responsible development risks U.S. energy security – underscores the need for reliable scientific data to establish the size and location of offshore oil and natural gas reserves, through safe seismic testing. Every other discussion about where offshore development may occur in the years ahead is premature until the resource base is known. In this context, a recent claim that U.S. military priorities and offshore energy development in the Atlantic Ocean are mostly incompatible is just plain silly.
Posted September 21, 2017
For a number of months we’ve been talking about the need for more efficient and predictable federal processes for the permitting of energy infrastructure – including new natural gas pipelines and added capacity. New, bipartisan legislation introduced this week in the U.S. Senate is latest move in that direction.
Posted July 28, 2017
It’s a positive step – for U.S. energy, economic growth, consumer benefits and climate progress – for the Bureau of Land Management (BLM) to begin rescinding its 2015 hydraulic fracturing rule – one that we argue duplicates existing and effective state regulation and risks delaying energy development, potentially impacting consumers. The agency should follow this up by moving swiftly to improve the permitting process for natural gas and oil development on federal lands, as Interior Secretary Ryan Zinke ordered earlier this month.
Posted July 21, 2017
Posted May 9, 2017
Access and infrastructure expansion – both key to extending the benefits of America’s energy renaissance to more Americans – are getting helpful attention from state utilities regulators. The National Association of Regulatory Utility Commissioners (NARUC) last month set up a task force to develop best practices and recommendations on natural gas service for underserved and unserved parts of the country – which includes the need for pipelines and other supporting infrastructure.