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Energy Tomorrow Blog

More Energy Development, More Energy Benefits

income  jobs  taxes  lng exports  hydraulic fracturing 

Mary Leshper

Mary Schaper
Posted September 10, 2013

Fracking, the Poor and Adding to Americans’ Disposable Income

Wall Street Journal (editorial): Last week we reported on a study showing that the U.S. oil and natural gas revolution may be the country's best antipoverty program, and the evidence keeps coming. A new report from IHS Global Insight estimates that fracking added the equivalent of a cool $1,200 to real household disposable income on average in 2012.

Lower costs for raw materials were passed on to consumers via lower home heating and electricity bills and lower prices for other goods and services. Wages also increased from a surge in industrial activity. On present trend, IHS predicts that unconventional oil and gas will contribute more than $2,000 a year by 2015 and $3,500 by 2025.

Overall the industry lifted economic growth by $283 billion last year.

Read more (subscription publication): http://on.wsj.com/13GJtDS

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Natural Gas Is Fueling America’s Growing Economy

hydraulic fracturing  Environment  jobs  Economy 

Mary Leshper

Mary Schaper
Posted September 9, 2013

If California Gets Its Act Together on Fracking, An Economic Boom Awaits

Forbes: Alex Epstein -- I live in California, a state where our government is practically bankrupt, businesses are fleeing, and 1.6 million citizens are unemployed. To say the least, our state needs an economic breakthrough.

Fortunately, we are on the verge of one. The state that gave birth to Silicon Valley has the opportunity to become Energy Valley, thanks to a miraculous technology that turns stone into oil.

That technology is called shale oil technology. Governor Brown calls it “an opportunity we can’t miss” because it can single-handedly turn our economy around.

Read more: http://onforb.es/17LLAYn

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Energy Benefits - 'Real and Tangible'

Economy  jobs  income  unconventional gas  unconventional oil  hydraulic fracturing 

Mark Green

Mark Green
Posted September 6, 2013

During a conference call with reporters to discuss IHS’ new report on the economic impacts of U.S. unconventional oil and natural gas development, IHS Vice President John Larson noted that while many of the report’s big numbers – including 3.3 million jobs that could be supported by 2020 and more than $468 billion in annual contributions to GDP – might be abstract to most Americans, the projected benefits to individual U.S. households from this energy activity are “real and tangible.”

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Energy Today – September 6, 2013

jobs  manufacturing  hydraulic fracturing  lng exports 

Mary Leshper

Mary Schaper
Posted September 6, 2013

U.S. Oil Production Reaches Highest Level in 24 Years

Fuel Fix Blog: U.S. oil production last week hit its highest level in nearly a quarter century, as companies seek to capitalize on high oil prices, according to federal data.

 

Domestic oil production hit 7.621 million barrels per day in the week ending Aug. 30, the U.S. Energy Information Administration said in its latest weekly update.

 

That surpassed the 7.609 million barrels per day production mark set the week prior and was the highest production total since October 1989, when production averaged 7.644 million barrels per day.

Read more: http://bit.ly/1ad7bcL

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Deeper Dive: The Economic Lift of Oil and Natural Gas Development

jobs  upstream  midstream  downstream 

Mark Green

Mark Green
Posted September 5, 2013

More from the new IHS report on the economic impacts of U.S. unconventional oil and natural gas development – with a deeper focus on jobs.

We posted on the report's big numbers yesterday: IHS projects the full unconventional value chain – the oil and natural gas industry’s upstream, midstream and downstream sectors and energy-related chemical industries – could support 3.3 million jobs by 2020 and nearly 3.9 million by 2025. Energy from shale and other tight-rock formations supported 2.1 million jobs in 2012.


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Energy Today – September 5, 2013

jobs  Economy  hydraulic fracturing  keystone xl  keystone xl pipeline 

Mary Leshper

Mary Schaper
Posted September 5, 2013

How America’s Oil and Natural Gas Revolution is Helping Consumers and Workers

CNN Money (Daniel Yergin): The rapid rise in shale gas and tight oil in the United States constitutes nothing less than a revolution in oil and natural gas. No longer can there be any doubt about the dramatic change in America's energy position. U.S. oil production is up 50% since 2008, when we were supposedly slated to run out of oil. Natural gas production has increased by 33% since 2005, and shale gas alone now constitutes about 45% of total natural gas production.

This revolution is not just about energy production; it's an economic story along several dimensions, whether measured in consumers' pocketbooks, jobs, U.S. manufacturing output, or America's increased competitiveness in the world economy. This has occurred amid a half-decade of deep recession and high unemployment. Indeed, without the boost from the unconventional oil and gas development, the U.S. economic picture would have looked even worse over the last few years.

Read more: http://bit.ly/15ClGse

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Our Promising Energy Present and Future

jobs  Jobs and Economy 

Mark Green

Mark Green
Posted September 4, 2013

You’ve heard about the U.S. shale energy revolution. Now a  new study from IHS quantifies the revolution’s breadth, depth and future promise, one that could see major oil and natural gas industry job creation stemming from development of unconventional reserves as well as billions of dollars in economic stimulus, manufacturing sector expansion and significant new revenues for governments at all levels. Needed: the policies to sustain and build on that revolution.

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Energy Today – September 4, 2013

jobs  economic growth  hydraulic fracturing  trade 

Mary Leshper

Mary Schaper
Posted September 4, 2013

U.S. Energy Lifting Economy More Than Expected

USA Today: Newly found sources of domestic oil and natural gas are having an even bigger impact on the economy than first projected, adding more than $1,200 last year to the discretionary income of the average U.S. family, a new study says.

The explosion in domestic energy production now supports 1.2 million jobs, directly or indirectly, says consulting firm IHS, in a study released Wednesday. That number will grow to 3.3 million by 2020, and new energy's contribution to U.S. families' disposable incomes will hit $2,000 per household per year by 2015, said IHS.

Read more: http://usat.ly/13eFEFC

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Energy Today – September 3, 2013

engineers  jobs  hydraulic fracturing  revenue 

Mary Leshper

Mary Schaper
Posted September 3, 2013

COLUMN – Your Kids Should Consider Petroleum Engineering

Reuters: Encouraged by some of the highest starting salaries available in any industry, record numbers of students are enrolling in petroleum engineering courses at U.S. universities.

It is part of a broader renaissance in engineering education, which should eventually ease severe skill shortages in the oil and gas sector.

But it will be the end of the decade before these new graduates are the experienced professionals needed to lead teams and make a real difference to exploration, output and refining.

In 2010, 1,295 graduate students enrolled in petroleum engineering courses at U.S. universities, according to the U.S. Department of Education's "Digest of Education Statistics."

Read more: http://reut.rs/15V2jb8

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White House Recognizes Oil and Natural Gas Benefits

jobs  Economy  access 

Mark Green

Mark Green
Posted September 3, 2013

It’s good to see a pair of senior White House officials pointing to increases in domestic oil and natural gas production as key factors in an improving U.S. economy. On the White House Blog, Gene Sperling, director of the National Economic Council, and Jason Furman, chairman of the Council of Economic Advisors, write about last week’s upward revision in second-quarter GDP from 1.7 percent to 2.5 percent.

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