Energy Tomorrow Blog
Posted July 30, 2014
The quest to encourage better behavior from Russia continues. President Obama and the European Union this week announced new sanctions to protest Russia’s involvement in Ukraine, measures that focus on Russia’s energy, arms and finance sectors. The president:
“Today … the United States is imposing new sanctions in key sectors of the Russian economy: energy, arms, and finance. We’re blocking the exports of specific goods and technologies to the Russian energy sector. We’re expanding our sanctions to more Russian banks and defense companies. And we’re formally suspending credit that encourages exports to Russia and financing for economic development projects in Russia. At the same time, the European Union is joining us in imposing major sanctions on Russia – its most significant and wide-ranging sanctions to date.”
Meanwhile, former Secretary of State Hillary Clinton says Europe needs to stand up to Russia, which will be easier to do if Europe diversifies its energy supplies:
“They need to understand they must stand up to [Russian President] Vladimir Putin. The reluctance has to do with European dependence on energy from Russia.”
Laudable sentiments and goals, but America can do more than impose targeted and inherently limited sanctions. The U.S. can do more than talk. America can do more to provide effective help for her friends and to diminish the influence of adversaries. Through energy, American energy.
Posted July 2, 2014
An inspector general’s report issued this week really underlines what industry has been telling Washington over the past couple of years: Permitting for oil and natural gas drilling on federal lands takes too long, generates too much uncertainty and is a hindrance to developing reserves that are critical to the country’s energy security today and tomorrow.
The Interior Department inspector general’s assessment of the effectiveness and efficiency of the Bureau of Land Management’s (BLM) onshore drilling permit process basically shows that the process is neither very effective nor efficient.
Posted October 17, 2013
With the ongoing budget debate in Washington serving as backdrop, let’s review ways America’s oil and natural gas industry generates revenue for our government – and the smart path to increasing that contribution in coming years.
First, our industry currently supplies $85 million a day in revenue to the U.S. Treasury via income taxes, royalties, rents and other fees. Second, industry is paying its fair share and more with an effective tax rate of 44.6 percent averaged over 2007-2012 – compared to 37.7 percent for retail, 25.6 percent for computer and peripherals and 21.3 percent for pharmaceuticals. And it could deliver more through increased domestic production made possible by greater access to U.S. reserves.
Posted May 23, 2013
Gasoline prices have been rising with the approach of the summer driving season – up to about $3.66, according to AAA – pushed there by rising crude oil prices. U.S. consumers need help. And they could get it – if the administration pursued a number of energy policies to put downward pressure on global crude costs, while abandoning other choices that could harm consumers.
API Chief Economist John Felmy’s reporter briefing Thursday focused attention on two paths: one that will increase domestic production of oil and natural gas and one that won’t. Unfortunately, the administration – via proposals to increase energy taxes and a new wave of questionable regulation – looks headed down the wrong path, a recipe for disaster for American energy:
Posted August 27, 2012
Ridiculing a New York Times editorial blog is like shooting unusually large fish in a barrel, but this one from last Friday is so fantastical and extreme that a commitment to an honest debate on energy compels me to fire away. And we don’t have to go far to start the fact check, as they lead with:
"The simple truth, as President Obama has recognized, is that a country that holds less than 3 percent of the world’s reserves but consumes more than 20 percent of the world’s supply cannot drill its way to energy independence."
Posted August 21, 2012
Posted July 11, 2012
Posted June 19, 2012
Posted May 21, 2012
Posted May 15, 2012