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Energy Tomorrow Blog

Progress on Crude Oil Exports

analysis  energy exports  crude oil  gasoline prices  congress  american petroleum institute 

Mark Green

Mark Green
Posted September 10, 2015

An important step forward this week for legislation to end America’s outdated, 1970s-era ban on domestic oil exports: passage of the bill by a U.S. House subcommittee. Next a full committee vote and, perhaps before too long, a vote by the entire House. Yet, challenges remain.

No doubt the full Energy and Commerce Committee debate will be more vigorous. But that doesn’t diminish this week’s historic progress on lifting the export ban – a true relic from America’s energy past.  “This has been a long day coming,” said Rep. Joe Barton of Texas, the bill’s author.

As Barton explained, we’re at this point largely because of America’s energy revolution – the surge in domestic oil and natural gas production resulting from American innovation, technology, shale reserves and hydraulic fracturing and horizontal drilling.

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New Ads: Economic, Security Reasons to Lift Crude Exports Ban

analysis  energy exports  crude oil  economic growth  american petroleum institute  gasoline prices 

Mark Green

Mark Green
Posted September 9, 2015

API has a pair of new ads that drive home the economic and national security reasons for lifting America’s 1970s-era ban on exporting domestic crude oil

Here’s the national security spotClick here for the ad that underscores the job and economic reasons for lifting the ban. 

The television and online campaign launched this week in a dozen states – including Colorado, Florida, Illinois, Pennsylvania and Virginia – and the District of Columbia. The campaign is part of a broader push emphasizing the importance of updating U.S. energy policies to reflect America’s rise as a global energy superpower.

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American Energy, Markets and Prices

analysis  crude oil  gasoline prices  energy exports  lng  Jack Gerard 

Mark Green

Mark Green
Posted September 4, 2015

The U.S. Energy Information Administration (EIA) reports that the average retail price for regular gasoline on Aug. 31 was $2.51 per gallon – the lowest price for the Monday before Labor Day since 2004 and 95 cents lower than the Monday before Labor Day last year. EIA explains:

Declines in crude oil prices are the main driver behind falling U.S. gasoline prices. Lower crude oil prices reflect concerns about economic growth in emerging markets, expectations of higher oil exports from Iran, and continuing actual and expected growth in global crude oil inventories.

Certainly, the global markets for a variety of commodities may be influenced by concerns, feelings and inklings of one kind or another. Let’s focus on the tangible reason EIA cites for lower global crude prices – hence, lower prices at U.S. pumps: growth in global crude oil inventories. That refers to production and supply to the market. The story behind that story is that over the past six or seven years, the United States has led the world’s top suppliers of petroleum and other liquids in production and rate of production growth.

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Energizing Pennsylvania

analysis  pennsylvania  crude oil  exports  lng  liquefied natural gas  gasoline prices 

Reid Porter

Reid Porter
Posted September 4, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Pennsylvania. We started the series with Virginia on June 29 and began this week with reviews of LouisianaRhode IslandNevada and New York. Information for all 50 states can be found online here, arranged on an interactive map of the United States.

As we can see with Pennsylvania, the energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.

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Energizing Wyoming

analysis  wyoming  crude oil exports  economy and energy  gasoline prices  income  lng  pricewaterhousecoopers  trade  wood mackenzie 

Reid Porter

Reid Porter
Posted August 28, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Wyoming. We started the series with Virginia and Colorado earlier this summer and reviewed Kentucky, Tennessee , Utah and Georgia to begin this week. All information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information across the country will be populated on this map as the series continues.

As we can see with Wyoming, the energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.

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Energizing Utah

analysis  utah  crude oil exports  economy and energy  gasoline prices  income  lng  pricewaterhousecoopers  trade  wood mackenzie 

Reid Porter

Reid Porter
Posted August 26, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Utah. We started the series with Virginia and Colorado earlier this summer and reviewed Kentucky and Tennessee to begin this week. All information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information across the country will be populated on this map as the series continues.

As we can see with Utah, the energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.

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Energizing Oklahoma

analysis  oklahoma  biofuels  e15  energy  ethanol  gasoline prices  pricewaterhousecoopers  renewable fuel standard  wood mackenzie 

Reid Porter

Reid Porter
Posted August 20, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Oklahoma. We started the series with Virginia on June 29 and reviewed Hawaii, Idaho and Vermont this week. All information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information across the country will be populated on this map as the series continues.

As we can see with Oklahoma, the energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.

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Energizing Vermont

analysis  vermont  crude oil exports  gasoline prices  income  pricewaterhousecoopers  revenues  trade  wood mackenzie 

Reid Porter

Reid Porter
Posted August 19, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Vermont. We started the series with Virginia on June 29 and reviewed Hawaii and Idaho to begin this week. All information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information across the country will be populated on this map as the series continues.

As we can see with Vermont, the energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.

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Energizing Idaho

analysis  idaho  income  e15  economy and energy  ethanol  gasoline prices  renewable fuel standard  pricewaterhousecoopers  wood mackenzie 

Reid Porter

Reid Porter
Posted August 18, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Idaho. We started the series with Virginia on June 29 and reviewed Hawaii to begin this week. All information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information across the country will be populated on this map as the series continues.

As we can see with Idaho, the energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.

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Oil Exports, Iran and U.S. Global Competitiveness

analysis  energy exports  crude oil  economic growth  domestic oil production  gasoline prices  Jack Gerard 

Mark Green

Mark Green
Posted August 14, 2015

We’ve put up a number of posts recently that argue for lifting the United States’ decades-old ban on exporting domestic crude oil – citing sound economic, trade and security reasons. Underlying them all is this: As an energy superpower, America will see more benefits here at home, be more secure and help make the world safer if U.S. crude is allowed to trade freely in the global marketplace.

Now, there is a compelling, market reason for urgency in ending the export ban – a self-sanctioning relic of the 1970s that hinders U.S. global competitiveness while impeding domestic energy development and economic growth. That would be the impacts on global crude markets if/when Iran resumes exporting oil under the proposed nuclear agreement the White House is advancing.

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