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Energy Tomorrow Blog

Embracing Offshore Abundance

offshore development  offshore access  oil and natural gas  economic benefits  Jack Gerard  outer continental shelf  safe operations 

Mark Green

Mark Green
Posted February 9, 2015

Let’s hope public hearings on the Obama administration’s draft offshore oil and natural gas leasing program – starting this week – help spark serious discussion of how the nation’s offshore energy reserves will be managed in the near future. Needed is greater public awareness of just how limited the administration’s approach is, reflected in a draft plan that simply doesn’t go far enough.

We say public awareness because the administration has been able to foster the perception that it favors more oil and natural gas development and energy infrastructure when, in fact, its policies have done little to support that development (did somebody mention the Keystone XL pipeline?).

In the case of offshore energy development, it’s important to move the administration toward a plan that actually increases access to reserves. The draft plan for offshore leasing for the 2017-2022 time period is less than meets the eye, offering just a single Atlantic lease sale in 2021 as part of the five-year program, which Interior Secretary Sally Jewell said could be withdrawn as the leasing plan process evolves. That’s not a balanced approach, that’s an attempt to manage the perceptions game.

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Access and Interior’s New Budget Request

access  interior department  onshore access  offshore access  federal lands  federal revenues  leasing  permitting 

Mark Green

Mark Green
Posted February 2, 2015

Taking a look at the president’s new budget request for the Interior Department, we see the administration asking for $13.2 billion, an increase of nearly $1 billion over the enacted funding level for the current fiscal year.

Now take a look at data from Interior’s Office of Natural Resource Revenue, which tabulates federal revenues from energy developed in federal areas onshore and offshore.

It’s a lot of information, but check the bottom line: For fiscal year 2013, revenues from oil and natural gas developed in federal areas totaled about $12.9 billion. For FY2014 the total was about $11.7 billion. Federal revenues from oil and natural gas development in FY2014 were about $1.2 billion less than in FY2013.

Interestingly, the amount of lost revenue is just about equal to Interior’s requested budget increase for FY2016. In other words, Interior lost $1.2 billion in revenue from 2013 to 2014 and basically is looking to taxpayers to fill in the gap in the next budget. 

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2014 in Energy Charts

access  crude  crude markets  domestic energy  e15  economic benefits  emissions  energy regulation  epa  fracking  gasoline prices  global markets  horizontal drilling  hydraulic fracturing  methane emissions  offshore access  oil and natural gas development  ozone  regulation  renewable fuel standard 

Mark Green

Mark Green
Posted December 31, 2014

So long, 2014. From an energy standpoint, you’ll be missed. Let’s count the ways:

Surging domestic oil and natural gas production – largely thanks to safe hydraulic fracturing and horizontal drilling – is driving an American energy revolution that’s creating jobs here at home and greater security for the United States in the world.

It’s a revolution with macro-economic and geopolitical impacts, for sure. But it’s also a revolution that’s benefit virtually every American.

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More Access to Keep U.S. Energy Revolution Rolling

oil and natural gas development  domestic access  federal lands  interior department  federal revenues  offshore access  onshore access  regulation 

Mark Green

Mark Green
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.

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Better Planning For a Better Energy Future

offshore access  oil and natural gas development  regulation  seismic survey  leasing plan  economic growth  outer continental shelf 

Mark Green

Mark Green
Posted June 16, 2014

With the Interior Department turning its attention to the next five-year offshore leasing plan, here’s a figure to keep in mind: 87 percent. That’s how much of our federal offshore acreage is off limits for energy development – and it’s costing us energy, jobs and economic growth.

Andy Radford, API senior policy advisor, set out some of the arguments for increasing access to energy reserves in the next five-year leasing plan during a conference call with reporters.

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Offshore Energy Equals North Carolina Jobs

offshore access  north carolina  seismic  economic growth  oil and natural gas industry 

Mark Green

Mark Green
Posted May 5, 2014

The waters off states along the Mid-Atlantic coast may hold significant new reserves of oil and natural gas, which is why the federal government should allow safe seismic testing on the outer continental shelf (OCS) there. Determining the resource base would clear the way for leasing, exploration and development that would mean jobs, revenue for government and more energy for America.

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Tapping America’s Offshore Energy ‘Gold Mine’

offshore access  offshore energy  offshore lease  jobs  Economy  revenue  outer continental shelf  Energy Security 

Mary Leshper

Mary Schaper
Posted December 5, 2013

America’s vast offshore energy reserves present an opportunity to improve our economy, increase our energy security and create tens of thousands of jobs. According to a new study, opening the U.S. Atlantic Outer Continental Shelf (OCS) to offshore oil and natural gas development could turn that opportunity into reality. API’s Director of Upstream Erik Milito and the National Ocean Industries Association’s Randall Luthi outlined the study for reporters today. Milito:

“Oil and natural gas production off our Atlantic coast is a potential gold mine. Developing oil and natural gas in the Atlantic could put hundreds of thousands of Americans to work, make us more energy secure, and bring in needed revenue for the government. But none of these benefits will appear unless the federal government follows pro-development energy policies.”

According to the study, oil and natural gas development in the Atlantic OCS between 2017 and 2035 could:

  • Create nearly 280,000 new jobs along the East Coast and across the country.
  • Result in an additional $195 billion in new private investment.
  • Contribute up to $23.5 billion per year to the U.S. economy.
  • Add 1.3 million barrels of oil equivalent per day to domestic energy production, which is about 70 percent of current output from the Gulf of Mexico.
  • Generate $51 billion in new revenue for the government.

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U.S. Needs Responsible Offshore Development, Not Duplicative Regulation

offshore access  offshore energy development  regulatory system  outer continental shelf 

Mark Green

Mark Green
Posted November 26, 2013

API is partnering with the National Ocean Industries Association and the Independent Petroleum Association of America in an effort to warn of a provision in a water development bill (S.601) that could limit future offshore oil and natural gas activity.

In a letter to members of a House-Senate conference committee considering the legislation, the three groups cite a portion of the bill that would create a National Endowment for the Oceans – which the groups argue could result in “additional and unnecessary authority over ocean resources.” The groups write that regulations already exist to manage those resources.

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A Plan for America’s Offshore Energy Future

offshore access  offshore development  american energy  Economy  jobs  gulf leases  revenue 

Mary Leshper

Mary Schaper
Posted October 22, 2013

Domestic oil and natural gas development is a key driver of America’s economy and global energy security, API’s director of upstream and industry operations Erik Milito told reporters yesterday. Access to offshore resources currently off-limits in the Atlantic, Pacific and Eastern Gulf of Mexico  could supply even more of the energy and jobs Americans need. Milito:

“Americans are eager to put more of our offshore energy resources to work. If exploration and development is allowed to safely expand to new areas, domestic oil and natural gas could provide more energy, jobs and government revenue than ever before.”

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Energy Today – July 8, 2013

Energy 101  hydraullic fracturing  keystone xl  oil sands  shale benefits  lng  lng exports  offshore development  offshore access 

Mary Leshper

Mary Schaper
Posted July 8, 2013

Reason - The Top Five Lies About Fracking

 Science writer Ronald Bailey highlights five falsehoods about hydraulic fracturing, from flaming faucets to water contamination. “Over 500,000 gas wells are currently operating in the United States,” Bailey writes. “Most of them manage to avoid blowing up houses, poisoning drinking water, making it hard to breathe, causing cancer...”

 Fuel Fix Blog – Oil to Flow Through Keystone XL’s Southern Leg This Year

 While the northern leg of the pipeline is going on five years waiting on approval from the Obama administration, the southern portion of the project is nearing completion. By the end of the year, the pipeline is expected to carry up to 700,000 barrels of oil per day from Cushing, Okla., to the coast of Texas.

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