Energy Tomorrow Blog
Posted April 7, 2014
U.S. Energy Boom Lifts Low-Income Workers Too
Wall Street Journal op-ed (subscription required): Mayors, governors and economic-development officials love natural-resource jobs—and today's North American energy revolution has been providing a lot of them. According to the U.S. Bureau of Labor Statistics, the number of new jobs in the oil and gas industry (technically a part of mining) increased by roughly 270,000 between 2003 and 2012. This is an increase of about 92% compared with a 3% increase in all jobs during the same period.
The people of New York and other states that have so far declined to take part in the boom might like to know what they are missing because these jobs pay well. The BLS reports that the U.S. average annual wage (which excludes employer-paid benefits) in the oil and gas industry was about $107,200 during 2012, the latest full year available. That's more than double the average of $49,300 for all workers.
At the other end of the wage spectrum are waiters and waitresses in food services nationwide earning about $16,200 a year, workers in the accommodations industry with average pay of $27,300, and those in the retail trade with average wages of $27,700. But the evidence from the oil boom regions is that energy development lifts wages for low-income workers too.
Posted November 11, 2013
The oil and natural gas industry supports safe and responsible energy development of America’s shale reserves. Three recent news reports underscore the time, innovation and energy various companies are investing in reducing surface impacts while protecting water supplies and air quality.
The Greeley (CO) Tribune reports on environmentally friendly measures companies are using in energy-rich Weld County. These include:
- Recycling water – Water produced during hydraulic fracturing is being captured and recycled, helping reduce water needs for future fracking jobs.
- Water supply – Companies are piping water into sites where hydraulic fracturing is being used to reduce the need for water supplied by trucks, also reducing traffic.
Posted November 11, 2013
There Would Be No Iranian Nuclear Talks if not for Fracking
Bloomberg Businessweek: Lost in some of the forecasting over what an agreement may eventually entail is the simple fact that none of this would be possible without the U.S. oil boom. Over the last two years, the U.S. has increased its crude production by about 2 million barrels a day. That’s like swallowing Norway, the fourteenth largest oil producer in the world. This new U.S. crude supply has allowed the West to put the squeeze on Iran without disrupting the global market or jacking up the price.
According to a recent report from the Congressional Research Service (pdf), Iran’s oil exports have been cut in half since 2011, from 2.5 million barrels per day to a bit more than 1 million today. As a result, Iran has had to halt an equal amount of production.
The fact that this has all happened without the slightest disruption felt in the oil market is extraordinary.
“I think it’s pretty clear that without the U.S. shale revolution, it never would have been possible to put this kind of embargo on Iran,” says Julius Walker, a global energy market strategist with UBS Securities (UBS). “Without U.S. production gains, I think we’d be looking at $150 a barrel,” says Walker. Instead, international prices have hovered around $110, and are less than $100 in the U.S.
Read more: http://bit.ly/1hAoafL
Posted October 8, 2013
Texas Continues to Lead the Shale Oil and Natural Gas Revolution
Forbes: Almost lost in all the news about the federal government “shutdown” (which has somehow left 83% of the government funded and functioning) over the last week are several new reports regarding the ongoing massive oil and natural gas Shale Revolution in the United States, and the role Texas is playing in making it happen…
When one includes condensate production from natural gas wells, Texas produced over 2.6 million BOPD in July, fully 35% of the nation’s petroleum production. Just a little more than 2 years ago, in April 2011, Texas’s daily oil production was 1.3 million BOPD, accounting for just 20% of total US production. That’s a phenomenal increase in only two years. The state’s current production level would rank it 13th among all countries on earth, and the rate of increase will almost certainly move the state into the top ten within the next 12 months.
Read more: http://onforb.es/18N2qWO
Posted August 28, 2013
The Infrastructure Supporting America’s Energy Renaissance Begins in Texas
Fuel Fix Blog: While many states throughout the nation struggle to make ends meet, surrounded by economic uncertainty, Texas is booming. Robust investment in the energy industry – from deep-water drilling to above ground production, and everything in between – has allowed the state to succeed despite an inconsistent U.S. economy.
None of this is news to those living in the Lone Star State – and in fact Texas has received a steady stream of national attention for its economic success – however it is worth noting that a key reason for such outstanding growth has been the investment in and development of our nation’s extensive energy infrastructure.
In April 2013 alone, Texas created over 33,000 jobs, which is more than any other state in the country, and nearly one-fifth of all the jobs created in the United States.
Read more: http://bit.ly/1dQjBcL
Posted August 22, 2013
Shale, Fracking Are Not the main Cause of Texas Water Shortages
One of the challenging aspects of shale oil and gas development in the United States comes from the fact that some of the large shale reservoirs are located in areas that are arid or semi-arid. Some, like the Eagle Ford and Cline Shales in Texas and the Niobrara in Colorado, are affected by ongoing drought conditions. This reality can make the sourcing of water for hydraulic fracturing operations a difficult undertaking.
Posted July 22, 2013
According to new data from the Texas Railroad Commission, the nine fields that make up the Eagle Ford Shale play yielded nearly 582,000 barrels of crude oil a day in May, compared to nearly 369,000 barrels daily in 2012.
Thanks to impact fees from hydraulic fracturing in the Marcellus Shale region, Williamsport, Pa. can now invest more than $1 million to repair the city’s roadways, a city official says. "We're doubling the amount of investment because of Marcellus Shale impact fees," said John Grado, city engineer and director of community and economic development.
Posted June 29, 2012
Posted June 22, 2012
Posted May 21, 2012