Energy Tomorrow Blog
Posted June 16, 2014
FT.com – Despite jitters over Iraq, the price of oil is at its most stable since the early 1970s, as a huge increase in US oil production offsets massive disruptions to supply from places such as Libya, according to BP.
Christof Rühl, group chief economist, said the world had seen a cumulative 3m barrels a day of supply disruption since the start of the 2011 Arab uprising but that had been “cancelled out” by a similar extra amount of US production.
“There has been an almost perfect match between outages in north Africa and elsewhere and US production growth,” he said. The equilibrium had created an “eerie quiet” in global oil markets.
Posted May 16, 2014
Industry’s commitment to enhancing the safety to offshore energy development in the four years since the Macondo incident was reflected in a half-day program on prevention and response sponsored by the Center for Offshore Safety(COS) at last week’s Offshore Technology Conference (OTC) in Houston.
The COS hosted two panel discussions – one focused on developing effective safety systems, and a second that centered on the actions, processes and leadership needed to build strong safety cultures.
Posted May 8, 2014
At the heart of the 2014 International Oil Spill Conference (IOSC) in Savannah, Ga., is the exhibitors’ hall where the latest equipment, technologies and services – for spill prevention, preparedness, response and restoration – are on display. This is cutting-edge technology and know-how that’s key to industry’s environmental commitment and sustaining energy development.
The conference hall echoes with conversation. Aisle after aisle is stocked with dozens of display booths featuring the latest in skimmers, scoopers, soakers, detectors, boom manufacturers, deployment equipment, containment receptacles, pumps, amphibious tractor/crawlers and consulting services – including one outfit, Exponent, whose display table giveaway is a light gray, palm-sized squeezable tension/anxiety reducer shaped like a brain. Gray matter. And there’s more, much more.
Posted March 19, 2014
This week’s central Gulf of Mexico lease auction, which saw oil and natural gas companies pledge more than $850 million in winning amounts, certainly helps support the United States’ status as an energy superpower. Developing more of our own oil and natural gas – and this week’s auction is a big step toward production – makes our country more energy secure, creates jobs and boosts the U.S. in global energy marketplace.
The potential benefits from future energy production from this week’s auctioned leases – jobs, economic growth and revenue for government – also suggest a couple of “what ifs”: What if the federal government included the Atlantic Outer Continental Shelf (OCS) in its next five-year leasing plan, the first step toward development in those areas? What if the U.S. opened more of the eastern Gulf to exploration and development?
Posted February 27, 2014
The federal government has released its environmental review on the potential impacts of seismic surveying on the Atlantic outer continental shelf (OCS) – testing that’s key to future oil and natural gas development off the U.S. coast, from Delaware to central Florida. That development could significantly add to domestic energy production, create jobs and stimulate economic growth and strengthen America’s energy security.
By permitting seismic surveying in the Atlantic and including Atlantic lease sales in the federal government’s next five-year leasing plan, we could see major benefits, according to a study by Quest Offshore Resources.
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.”
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 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.
Posted October 11, 2012
Jane Van Ryan
Posted August 17, 2010