Skip to main content

Energy Tomorrow Blog

The State of American Energy is Strong

american energy  Economy  Energy Security  jobs  fracking  state of the union  state of american energy 

Mary Leshper

Mary Schaper
Posted January 21, 2015

The eight states at the heart of the American shale oil revolution all grew faster than the U.S. national average over the last decade, according to the U.S. Bureau of Economic Analysis (BEA), underscoring the importance of oil production to the U.S. economy. Gross domestic product (GDP) attributable to private industry grew at a compound annual rate (CAGR) of 1.8 percent between 2002 and 2013 for the nation as a whole, after allowing for inflation. But for the eight states at the centre of the shale oil revolution, all of which have increased their production by at least 20,000 barrels per day since 2008, private sector GDP growth has been much faster.

More »

America’s Energy Abundance

american energy  Economy  exports  crude oil  imports  fracking 

Mary Leshper

Mary Schaper
Posted December 23, 2014

Dallas Business Journal: So far this year, the U.S. has imported 369.8 million barrels of crude oil, according to the Energy Information Administration. Sure, that sounds like a lot, especially in light of the shale boom renaissance that has swept the country. Until you look at the past few years. For the same period in 2010, the U.S. imported 456.1 million barrels of crude, according to the EIA. So, in four years, oil imports have declined 19 percent and will likely continue to decrease in future years.

More »

America’s Growing Energy Potential

american energy  Economy  growth  jobs  fracking  keystone xl pipeline 

Mary Leshper

Mary Schaper
Posted December 10, 2014

Reuters: A surge of oil and gas production will drive the U.S. economy 1 percent higher in 2040 than it would have otherwise grown, and energy exports will only stoke the expansion, an independent study on energy policy concluded on Tuesday.

 

New drilling technologies such as 'fracking' have unlocked an abundance of fossil fuels from shale deposits and the bounty will both jolt the economy and increase tax receipts, according to the study from the Congressional Budget Office.

 

Officials estimate "real (inflation-adjusted) GDP product will be about two-thirds of 1 percent higher in 2020 and about 1 percent higher in 2040 than it would have been without the development of shale resources," the report finds.

More »

Thankful For: American Energy Security

Energy Security  american energy  Economy  jobs  fracking  regulation  keystone xl pipeline 

Mary Leshper

Mary Schaper
Posted November 26, 2014

EIA Today in Energy Blog: U.S. retail regular-grade gasoline prices continue to decline, averaging $2.82 per gallon (gal) as of November 24. This average is 47 cents lower than a year ago, and the lowest price heading into a Thanksgiving holiday since 2009.

 

Traditionally, the Thanksgiving holiday is one of the most traveled times of the year in the United States, and much of that travel is by car. AAA estimates that during this Thanksgiving holiday weekend (November 26-30), 41.3 million people in the United States will travel more than 50 miles from home by car. This level of travel, 4.3% higher than the same time last year, is the highest number of travelers by car for Thanksgiving in seven years and the third highest since AAA began publishing the data in 2000.

More »

Thankful For: Fracking

fracking  american energy  Economy  jobs 

Mary Leshper

Mary Schaper
Posted November 25, 2014

CNBC: America's unexpected transformation into the world's biggest natural gas producer and one of the globe's largest oil producers will give the U.S. more geopolitical clout on the world stage—including in key relationships with China, Russia and the Middle East.

 

By 2020, the U.S. is likely to be energy independent, along with Canada, its biggest import and export partner. Add to that a new boom expected from a reforming energy industry in Mexico, and North America will more than hold its own as a powerhouse in the global energy market.

 

The ripple, however, will be increasingly felt across the world. In the next several years, the European Union could be importing U.S. gas—and possibly even oil, if current laws change—lessening Russia's stranglehold on the European economy.

More »

Thankful For: American Energy

american energy  Economy  Energy Security  jobs  exports  crude  lng  fracking 

Mary Leshper

Mary Schaper
Posted November 24, 2014

Wall Street Journal (Jason Bordoff): It’s a whole new oil world for the U.S.

After decades of declining domestic oil production, the country is in the middle of an unexpected boom. Driven by new technology that reaches previously inaccessible reserves, production has soared by millions of barrels a day. This surge has been a key factor driving oil prices down.

So, should U.S. oil companies be allowed to sell that oil overseas?

Because of a restriction dating back to the oil scares of the 1970s, producers for the most part can’t export their oil. The export ban was part of a series of laws passed to ease supply concerns and prevent U.S. producers from skirting price controls by selling crude into the world market at higher prices.

More »

It’s Time to Build the Keystone XL Pipeline

keystone xl pipeline  Environment  Energy Security  jobs  emissions  american energy  Economy  oil sands 

Mary Leshper

Mary Schaper
Posted November 18, 2014

Ahead of the Senate’s vote this evening on legislation that would approve the Keystone XL pipeline project, the 1,779 mile oil pipeline project has dominated energy news today. While the Senate floor continues to see debate, and the vote looks very close, here’s what we’re reading:

More »

Americans Win with American Energy

american energy  Economy  jobs  lng exports  fracking  pennsylvania 

Mary Leshper

Mary Schaper
Posted November 17, 2014

The Economist: To find out how much energy security has mattered in the Pacific’s recent history, ask the Japanese. At the museum of the Yasukuni Shrine in Tokyo, which honours the country’s war dead (sometimes controversially), an exhibit suggests, with a jarring note of self-justification, that an American naval blockade against Japanese oil imports in 1941 triggered the Pacific war.

Seventy years later a tsunami that swooshed in from the Pacific and knocked out the Fukushima Daiichi nuclear power station led to the closure of Japan’s 54 nuclear reactors. Parts of the country, which is a greedy consumer of electricity, were left practically powerless. Huge tankers full of natural gas, heading for terminals dotted along Japan’s Pacific coastline, eventually got the country up and running again. In 2012 Japan consumed 37% of the world’s liquefied natural gas (LNG).

More »

Energy in the 114th Congress

american energy  Economy  Energy Security  Environment  jobs 

Mary Leshper

Mary Schaper
Posted November 5, 2014

Wall Street Journal: Next year’s GOP-controlled Senate is expected to come out strongly against President Barack Obama ’s most consequential energy and environment policies, with the likely majority leader, Mitch McConnell of Kentucky, vowing to hold votes on the Keystone XL pipeline and legislation to pare back the administration’s proposed carbon emissions rules.

 

It is an open question how much headway Republicans can make, given the Senate’s 60-vote procedural threshold and the threat of a presidential veto. But centrist Democrats with home-state energy interests could align with Republicans to create bipartisan majorities on bills that Senate Majority Leader Harry Reid (D., Nev.) didn’t want to bring to the floor, including approving the Keystone XL pipeline, curtailing Environmental Protection Agency rules to cut carbon emissions and expediting federal reviews of natural-gas exports. The votes would put senators on the record in a way Mr. Reid often avoided.

More »

Choosing American Energy This Election

american energy  Economy  Energy Security  Environment  jobs 

Mary Leshper

Mary Schaper
Posted November 3, 2014

The Hill (Jack Gerard): With zero precincts reporting, we can confidently project American energy is a landslide winner in the 2014 midterm elections.

 

In many races, both Republican and Democratic candidates have gone out of their way this year to embrace pro-energy policies – to the point that it’s been almost impossible to tell who’s wearing red or blue on the campaign trail.

 

“When I disagree with the president, I stand up to him. Whether it is on oil or support for the Keystone XL pipeline.” That’s Virginia Democratic Sen. Mark Warner.  In North Carolina’s Senate race, Democratic Sen. Kay Hagan made a point of saying “I disagree with the president. I think we need to build the Keystone pipeline.” That’s one thing she has in common with her Republican opponent, Thom Tillis, who states, “I strongly support the construction of the Keystone pipeline and favor expanding offshore drilling to make our nation less dependent on foreign oil.

More »