Energy Tomorrow Blog
Posted June 24, 2013
AP reports on the debate surrounding the Renewable Fuel Standard and E15 gasoline after a recent ruling by the Supreme Court. "The ever increasing ethanol mandate has become unsustainable, causing a looming crisis for gasoline consumers," API's Bob Greco said. "We're at the point where refiners are being pressured to put unsafe levels of ethanol in gasoline, which could damage vehicles, harm consumers and wreak havoc on our economy."
Houston Chronicle – Energy Surge Spreads Its Wealth Around City
Houston is arguably the center of American energy. With the surge in domestic energy, the city’s business sector – and revenues – has grown over the last few years. The Chronicle highlights the “vibrant metropolitan area.”
Posted June 14, 2013
The energy stimulus from shale development last year in Pennsylvania is big – big as in approaching a number with nine zeroes:
- $202.4 million collected in state impact fees from energy producers.
- $731 million in rents and royalties paid to land and mineral rights owners.
That’s nearly $1 billion from the oil and natural gas industry in terms of tax revenues for government to allocate (more below) and payments to individuals.
Pennsylvania officials announced this week $202,472,000 was collected in producer-paid impact fees in 2012. About $204 million was collected for 2011, bringing the two-year total to more than $406.6 million, state officials said. Public Utility Commission Chairman Robert F. Powelson:
“The PUC is entrusted by the Governor and the legislature with the collection and distribution of the Impact Fee monies. Again, we have met all of the deadlines in the legislation, which contains a complex and specific formula for getting this money into the hands of local communities.”
Posted May 1, 2013
Texas Tribune – Shale Boom Has Major Impact on Texas' Budget
Increased shale development in Texas has helped business surge in the Lone Star State, providing jobs not just in the industry but across the service sectors. But the most significant effect may be seen in the revenue provided to the state, according to the paper.
Press Connects.com – New York Deserves a Fracking Chance
In a guest opinion piece, Dr. Charles Carpenter points out that as the debate over hydraulic fracturing continues in the Empire State, more than 800,000 New Yorkers are currently unemployed, and since 2001 at least 1.6 million people have left the state. That’s the highest number of any state in the country – but fracking could change that.
Posted April 17, 2013
You can’t help but feel empathy for New York state residents, struggling with high unemployment and low economic growth. Ads touting the “new” New York’s open-for-business attitude are airing nationally, trying to encourage new start-ups and to convince enterprises from other states to relocate in the Empire State.
Yet, the potential for dynamic economic growth and robust job creation is right under New Yorkers’ feet. The state’s Southern Tier counties sit atop the natural gas-rich Marcellus Shale – the same play that has fostered boom conditions in much of Pennsylvania.
Posted April 15, 2013
The Hill – Energy Taxes Are No Budget Solution
Steve Forbes writes on The Hill’s Congress Blog that higher taxes on the oil and natural gas industry would cost jobs, lower energy production and actually reduce revenue to government over time. He cites a study showing that “a new tax on the industry would sacrifice 170,000 direct and indirect energy jobs by 2014.”
Houston Chronicle – It’s Wrong to Penalize the Oil and Natural Gas Industry
“Singling out our oil and natural gas industry for taxation penalizes producers,” writes the newspaper. “Bad guys? You mean the folks who employ our neighbors in good-paying jobs, contribute mightily to our tax base, civic life and sports and cultural/arts scenes? We don't think so.”
Posted February 6, 2013
Yesterday, President Obama called on Congress to pass a “balanced mix of spending cuts and more tax reform” to avoid the sequester spending cuts scheduled to take effect March 1. White House Press Secretary Jay Carney then followed up with, “That means closing loopholes that give tax advantages to the wealthy and to corporations that average Americans and average businesses don't have…So there's the subsidies to oil and gas companies.”
Posted February 5, 2013
Energy is essential to running our economy and securing our standard of living. At a very basic level we can get the energy we need in one of three ways: 1. We can produce it domestically; 2. U.S. companies can produce it abroad for sale in the U.S.; 3. Foreign companies can produce it abroad for sale in the U.S. Two of these three ways offer a clear advantage in creating American jobs, boosting the American economy and supplying revenue to American governments.
Posted February 5, 2013
An important new analysis supports what the oil and natural gas industry has been saying for some time: Drilling on public lands now closed to development could boost U.S. employment, economic growth and revenue to federal, state and local governments over both short- and long-term horizons.
Posted January 30, 2013
Two pieces of new polling info linked to the Keystone XL pipeline.
First, Rasmussen reports that the project, after more than four years on the Obama administration’s “to do” list, enjoys support from 59 percent of those surveyed. Just 28 percent oppose. Strong supporters (34 percent) outnumber strong opponents (10 percent) by more than three to one. There’s been strong support for the Keystone XL in polls by Fox News and Pew Research.
Speaking of Pew, last week they released another of their periodic surveys showing the issues Americans think are most important as President Obama and Congress get to work this year. Topping the list is strengthening the economy (86 percent say it’s a “top priority”), followed by improving the job situation (79 percent) and reducing the budget deficit (72 percent). What’s this got to with the Keystone XL pipeline?
Posted December 21, 2012