Energy Tomorrow Blog
Posted December 4, 2014
One key to sustaining and growing the ongoing U.S. energy revolution is to increase access to America’s oil and natural gas reserves – specifically, gaining more access to reserves under federal control, onshore and offshore.
And a revolution is what we’re seeing. According to the U.S. Energy Information Administration (EIA), domestic crude output topped 9 million barrels per day for the fourth week in a row, a production level not seen since the mid-1980s.
As great as that news is, it could be better because America’s energy production growth – generating new jobs, growing the economy and increasing our energy security – is occurring on state and private lands. More access to reserves in federal areas would help expand the revolution, generating even more benefits.
Posted October 28, 2014
In an interview with the Huffington Post, U.S. Interior Secretary Sally Jewell, in just a handful of minutes, does a pretty good job answering some of the most common attacks on hydraulic fracturing and horizontal drilling made by opponents of fracking – many of whom apparently want no part of the job creation, increased U.S. energy security and reduced emissions of methane and carbon dioxide that safe and responsible fracking brings. Jewell:
“Fracking has been around for over 60 years. It is the ability to actually unlock oil and gas from reservoirs away from the wellbore. New techniques with directional drilling and staged fracking have enabled people to direct those fractures into formations that release a lot of oil and gas a long way away – maybe two miles from the actual wellhead.”
In a nutshell she describes the marriage of advanced hydraulic fracturing and horizontal drilling that is responsible for America’s ongoing energy renaissance – dramatically increasing domestic oil and natural gas production from vast shale reserves to the point where the U.S. now is No. 1 in the world in natural gas production and is expected to be No. 1 in oil output soon.
Posted November 19, 2013
The Interior Department says it disbursed more than $14.2 billion in revenue generated by energy production during the federal fiscal year that ended Oct. 30 – a $2 billion or 17 percent increase over the previous year. The increase included $2.77 billion in bonus bids for new oil and natural gas leases in the Gulf of Mexico. Interior Secretary Sally Jewell:
“Domestic energy production infuses funding into communities across the United States that creates American jobs, fosters land and water conservation efforts, improves critical infrastructure, and supports education. The funding reflects significant energy production from public resources in the United States and serves as a critical revenue stream for federal and state governments and tribal communities.”
Interior said revenues were distributed to state, local, federal and tribal accounts for reclamation, conservation, recreation and historic preservation projects. Local governments use these revenues for needs ranging from funding schools to infrastructure improvements, the department said. More than $8 billion was sent to the U.S. Treasury to fund programs for the entire nation.
Certainly, this is good news. Increased production of U.S. oil and natural gas results in job creation and economic stimulus, as well as more revenue for governments in the form of income taxes, rents, royalties and bonus payments. Every day the oil and natural gas industry delivers about $85 million to the U.S. Treasury. Our effective tax rate of 44 percent (2007-2012) leads other industries.
Posted June 15, 2011
Posted June 14, 2011
Posted March 16, 2011
Posted March 10, 2011
Jane Van Ryan
Posted March 2, 2011
Jane Van Ryan
Posted December 22, 2010
Jane Van Ryan
Posted December 16, 2010