Energy Tomorrow Blog
Posted November 30, 2016
Posted May 23, 2016
New figures from the U.S. Energy Information Administration show the United States remained the world’s No. 1 producer of oil and natural gas in 2015, a position the U.S. has held since 2012.
Several important points here, supporting the idea that U.S. world energy leadership is a big thing.
First, U.S. production of oil and natural gas grew last year despite continued low prices for crude last year. U.S. output of petroleum and other liquid fuels grew from 14.08 million barrels per day in 2014 to 15.04 million barrels per day in 2015. According to EIA, natural gas production rose from 74.89 billion cubic feet per day (bcf/d) in 2014 to 78.94 bcf/d in 2015, or about 13.99 million barrels of oil equivalent per day.
The second point is the vast majority of U.S. energy production is the result of safe and responsible hydraulic fracturing and modern horizontal drilling – fracking.
Posted May 17, 2016
The United States in 2040 will be more energy self-sufficient, a net energy exporter and a lower source of energy-related carbon emissions as clean-burning natural gas becomes the dominant fuel for generating electricity. The leading energy source 24 years into the future – as they are now – will be oil and natural gas.
So projects the U.S. Energy Information Administration (EIA) in an early look at select data from EIA’s Annual Energy Outlook 2016 report that’s scheduled for full release in July.
The main takeaway from EIA’s “sneak preview” is the importance of the U.S. energy revolution – primarily oil and natural gas developed from shale and other tight-rock formations using safe hydraulic fracturing and modern horizontal drilling. The United States is stronger now and will be in the future thanks to domestic energy from fracking.
Posted November 25, 2015
Posted November 3, 2015
API assembled a great panel of election/campaign experts to discuss how Election 2016 is shaping up and which issues will be salient when Americans vote a year from now. As for predicting the key issues 12 months into the future, the experts said what honest experts say: Who knows for sure? Yet, Public Opinion Strategies’ Glen Bolger no doubt was in the ballpark:
“I don’t think any one issue is going to dominate the election. … You’re going to have a number of different issues debated: foreign policy and national security being up there, the economy and jobs … Energy certainly can play a role in that, just given that it is a component of jobs and the economy. It’s a component of our national security, it’s a component of our foreign policy. I think energy will be an issue, but the question is how big.”
Great point. Energy and advancing the right policies for American energy certainly run through a number of the things Americans say they care about most: jobs, a thriving economy and safety for themselves and their families. That’s what comes through the results of a new Harris Poll of 2,800 registered voters: energy, energy, energy.
Posted October 15, 2015
Reuters reports that Lithuania is in talks with U.S. liquefied natural gas company Cheniere Energy, seeking to reduce its dependence on Russia for LNG supplies. Lithuania opened an LNG import terminal last year, and its gas supply contract with Russian state-owned supplier Gazprom is scheduled to expire at the end of the year. Rokas Masiulis, Lithuania’s energy minister:
“We would love to have U.S. cargo in our region to have competition with Gazprom. … I believe negotiations with Gazprom now will be on competitive, reasonable terms and that will be just business and nothing else. … After we have built an LNG terminal, there is no possibility of blackmail. Since we think there is no possibility of blackmail, discussion will be rational and economical rather than political. This is a big step.”
The minister speaks diplomatically, so let’s read between the lines a bit. We suspect that Lithuania is trying to secure the diversification of its energy supply. The country wants options, additional sources of LNG so that it is beyond leveraging by Russia on natural gas. Russia did this with oil in 2006, Reuters reports.
At the same time, Masiulis told Reuters that Lithuania also would be open to buying U.S. crude oil if the United States repeals its current ban on the export of domestic crude.
Posted September 30, 2015
America’s energy revolution means … a United States that’s more energy self-sufficient – less dependent on others, more secure in the world and better positioned to help friends abroad; economic growth and job creation – and with the right policy choices, a golden opportunity to secure American prosperity well into the future; and a stronger U.S. trading posture that, with energy exports, could benefit consumers
Let’s look at some charts that illustrate this American energy renaissance – which is based on the surge in domestic production that has accompanied the growth of safe, advanced hydraulic fracturing and horizontal drilling since the mid-2000s.
Posted September 18, 2015
First, they said it was about protecting consumers. Opponents of lifting the U.S. ban on crude oil exports claimed that allowing domestic crude to reach the global market would negatively impact Americans at the gas pump. But every major economic study looking at the issue has blown away that fig leaf.
The studies – from Brookings Energy Security Initiative to IHS to the U.S. Energy Information Administration (EIA) – estimate that U.S. oil exports would put downward pressure on U.S. gasoline prices, benefiting American consumers.
There have been other fig leaves.
Exports opponents say America shouldn’t export crude as long as our country is an oil importer. They also say the U.S. should isolate its crude from the global marketplace for national security reasons and that for those reasons oil should be treated differently than other U.S. commodities that are freely traded. These, too, have been blown away by the facts and sound economic analysis.
Posted September 15, 2015
So here we are: Legislation that would end America’s 40-year-old ban on the export of domestic crude oil is moving through Congress – and better, there’s bipartisan momentum behind it.
Resistance to lifting the crude exports ban has no credible footholds – reflecting the breadth of the economic analysis supporting exports. There’s also the realization by most Americans that our country’s ongoing energy revolution has pretty much dashed the 1970s-era justifications for excluding American energy from the global marketplace, where it could be positively affecting global crude markets, stimulating production here at home and providing real energy aid to America’s allies.
Posted September 15, 2015
Join us Tuesday morning for a live event from Washington, D.C., that will explore the impacts of America’s crude oil exports ban on our economy, national security, foreign policy, the environment, consumers and more.
The event, hosted by National Journal and sponsored by API, is scheduled to begin at 8:45 a.m. API President and CEO Jack Gerard will introduce the event, followed by remarks from U.S. Sens. Heidi Heitkamp and John Hoeven, both of North Dakota, and Ed Markey of Massachusetts.