Energy Tomorrow Blog
Posted August 27, 2014
The U.S. Energy Information Administration (EIA) has a chart showing what a number of experts have been saying – that America’s domestic energy surge has countered a rise in unexpected supply disruptions around the globe in recent years.
EIA says U.S. liquid fuels production – including crude oil, hydrocarbon gas liquids, biofuels and refinery processing gain – grew by more than 4 million barrels per day (bpd) from January 2011 to July 2014. Of that total, 3 million bpd was growth in crude output. Over the same period unplanned global supply disruptions as calculated by EIA grew by 2.8 million bpd. The result is a more stable global market for crude.
Posted August 14, 2014
Energy figures to be an important voting issue come November in a number of key states, new polling indicates. In separate surveys conducted by Harris Poll registered voters in Florida, Missouri, New York, New Jersey and Pennsylvania – 70 percent or more in each state – said they are more likely to favor a candidate who supports increasing oil and natural gas production and energy infrastructure.
Another result that could generate traction in this fall’s elections: More than 60 percent of registered voters in each of the states said they think the federal government doesn’t do enough to encourage the development of the nation’s energy infrastructure.
Posted February 7, 2014
Big news from the Commerce Department this week is that U.S. exports rose to a new high in 2013 and imports dropped to their lowest level since 2009 for the smallest U.S. trade deficit since 2009 – thanks largely to reduced oil imports due to growing domestic production and record exports of products made from petroleum. The Wall Street Journal (subscription required) reports:
A booming domestic energy industry is largely responsible for the turnaround. Not adjusted for inflation, the value of petroleum exports—a category that includes gasoline, kerosene, lubricants, solvents and other products—reached a full-year peak in 2013. Petroleum imports, by value, were the lowest since 2010 and the volume of crude-oil imports, at 2.8 billion barrels, were the lowest since 1995.
Bloomberg reports the U.S. trade gap narrowed to $471.5 billion last year from $534.7 billion in 2012, with the trade balance on petroleum products shrinking to 20.2 percent, the biggest decline in four years.
Posted December 3, 2013
International Energy Agency (IEA) Chief Economist Fatih Birol was at CSIS this week, highlighting the organization’s findings in its 2013 World Energy Outlook. The report focuses on global energy demand growth, the future energy mix and the sources of energy. Key takeaways from Birol’s presentation:
- The United States could become the world’s leading oil producer as early as 2015, two years earlier than IEA projected a year ago, Birol said.
- About two-thirds of the growth in global energy demand between now and 2035 will come from Asia.
- U.S. energy production, especially surging natural gas output from shale via hydraulic fracturing, is creating energy cost differentials that make American products more competitive in the global market.
Posted October 31, 2013
Wishing everyone a safe and happy Halloween! And, thanks to America’s enormous wealth of oil, natural gas and other energy sources, plus investment and ingenuity supplied by the oil and natural gas industry, it is a high-energy Halloween. No tricks, just treats.
Posted October 15, 2013
Virginia is among Mid-Atlantic states under federal consideration for offshore seismic surveying for oil and natural gas. Policymakers should be mindful of a new poll showing that a wide majority of Virginians – 67 percent – favor offshore drilling, as well as increased production of domestic oil and natural gas overall.
Posted March 21, 2013
New from the U.S. Energy Information Administration:
Monthly crude oil production in the United States is expected to exceed the amount of U.S. crude oil imports later this year for the first time since February 1995. The gap between monthly U.S. crude oil production and imports is projected to be almost 2 million barrels per day (bbl/d) by the end of next year—according to EIA's March 2013 Short-Term Energy Outlook.
Posted January 28, 2013
The campaign against the free trade of U.S. liquefied natural gas (LNG) generally goes down a few of tracks:
- Consumers will be hurt as “excessive” LNG exports stretch demand, making natural gas more expensive here at home.
- Blocking or restricting LNG exports will best fuel U.S. economic growth.
- The federal government needs to prevent “unrestricted” or “unlimited” LNG exports.
Fortunately, this doesn’t have to be one opinion against another. The U.S. Energy Department has a recent, comprehensive study on these issues in hand, in addition to reports and studies by other reputable organizations. The conclusions, based on scholarly research, should guide the federal decision on licensing the construction of LNG export facilities – more than a dozen of which are awaiting approval.
Posted January 25, 2013
This week API, on behalf of the U.S. oil and natural gas industry, furnished comments on the Energy Department’s 2012 study of the impact of exporting U.S. liquefied natural gas (LNG). You can read them in full here, but let’s cover some of the main points.
Posted January 22, 2013
More video interviews from the recent State of American Energy event in Washington, D.C. In this clip Devon’s Richard Sawaya and Paula Jackson, interim president and CEO of the American Association of Blacks in Energy, talk about energy development under pro-growth policies as a dynamic economic engine