Energy Tomorrow Blog
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 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.
Posted September 27, 2019
A pair of new, positive developments on the emissions/climate front. First, the U.S. Energy Information Administration (EIA) projects that energy-related carbon dioxide emissions will decline 2.5% this year. Second, a new Energy Department report on the life cycle greenhouse gas emissions associated with U.S. liquefied natural gas (LNG) exports confirms the environmental benefits of natural gas vs. coal – significant given expanding markets in Asia and Europe for U.S. LNG.
Both are very important. EIA’s CO2 projection, along with the projected 4.9% increase in natural gas consumed for power generation relative to 2018, underscores the point that increased use of natural gas in fueling power generation lowers CO2 emissions, and that the recent trend of the U.S. recording the lowest CO2 levels in a generation will continue.
Posted September 25, 2019
Energy is essential to a modern standard of living, and as the leading energy sources, natural gas and oil are foundational to almost everything we do – lighting our homes, heating our hospitals and powering our workplaces.
The U.S. is the world’s leading natural gas and oil producer, which is critically important given new projections that global energy consumption will increase nearly 50% by 2050. Though reliable access to energy often is taken for granted in this country, people in other parts of the world struggle to obtain the energy needed for sustainable development and to empower basic human progress.
According to the International Energy Agency (IEA), nearly one in eight people around the world lives without electricity, and 2.7 billion people currently are without access to clean cooking facilities. Without power for heating, lighting and advanced technologies, human potential is severely limited. And in the absence of cleaner fuels, people must use coal, kerosene, biomass and other energy sources to prepare food, which contributes to harmful and unnecessary indoor air pollution.
Posted August 28, 2019
U.S. exports of liquefied natural gas (LNG) – growing to a record 4.8 billion cubic feet per day (bcf/d) in the third quarter of 2019 – have been a catalyst for new natural gas resource development, U.S. pipeline and natural gas processing investments and the U.S. economy. ...
The U.S. Energy Information Administration (EIA) expects U.S. LNG exports to more than double again by 2025, which holds the potential for even greater domestic economic benefits, plus a central, emerging role for U.S. energy leadership in global markets.Realizing these benefits is critically dependent on the United States’ ability to build and deliver an unprecedented number of multi-billion-dollar U.S. mega-projects over the next several years. When ”demographics are destiny” and the average age of a welder in the U.S. already is over 57 years, we should remain optimistic about the potential to build these projects but also pragmatic about the policies and business environment needed to achieve the goals.
Posted August 26, 2019
News item: China announces retaliatory tariffs on $75 billion worth of U.S. goods, including a first-ever tariffs on U.S. crude oil imports. In response, President Trump says previously announced tariffs on Chinese goods will go up. The U.S.-China trade war churns on and with it, there’s significant collateral damage.
We discussed the impacts before – the way trade restrictions threaten U.S. competitiveness and global energy leadership, the drag on the U.S. economy and how the administration’s tariffs hurt U.S. consumers, not China. The latest trade tit-for-tat is similarly damaging.
Posted August 21, 2019
U.S. crude oil exports are reaching a record 31 countries, and exports of U.S. liquefied natural gas (LNG) are set to jump a projected 63 percent this year – boosting American jobs and adding stability to global markets.
But the ongoing trade war puts growing markets for U.S. energy exports at risk.
Posted August 15, 2019
By now, the advantages of the American energy revolution are familiar. Soaring production in U.S. shale plays is delivering abundant, affordable and clean natural gas, which is increasingly displacing coal in our energy mix. Today, domestic emissions are at their lowest levels in over 25 years, due in no small part to fuel switching and low-cost natural gas.
While these trends have benefited Americans for more than a decade, an equally exciting story is emerging abroad. Growing exports of U.S. liquefied natural gas (LNG) are spreading these economic and environmental advantages to our allies across the globe.
Posted July 11, 2019
Exports of U.S. liquefied natural gas (LNG) are set to jump a projected 72 percent this year compared to 2018, and the emergence of the U.S. as one of the world’s largest LNG suppliers is good news for the American economy. Research shows LNG exports could generate up to 452,000 U.S. jobs, and add up to $74 billion annually to U.S. GDP, by 2035.
The environmental benefits are no less significant.
Posted July 10, 2019
There’s much in the latest government report that signals U.S. global energy leadership is strengthening, mostly thanks to continued robust domestic production.
From record volumes of natural gas and oil to growing exports of liquefied natural gas (LNG), America’s opportunities to bring greater stability to energy markets, assist allies, lead the world in reducing greenhouse gas emissions and benefit consumers here at home have increased.