Energy Tomorrow Blog
Posted July 12, 2013
In this video, Weld County Commissioner Mike Freeman talks about the safety of oil and natural gas development, through hydraulic fracturing:
Posted July 11, 2013
From time to time, a few politicians get the not-so-bright idea to try to repeal the tax deduction for intangible drilling cost (IDCs). A new study out today from Wood Mackenzie shows what would happen if this cost recovery measure was repealed effective January 1, 2014.
During a conference call with reporters, API’s director of tax and accounting policy Stephen Comstock noted that IDC expenses including wages, fuel, and hauling costs typically represent 70 to 90 percent of the cost of a completed well. Comstock:
Posted July 10, 2013
Below is the first of a series of videos from Weld County, Colo., where oil and natural gas developed with hydraulic fracturing technologies is bringing benefits to individuals and communities. In the first, County Commissioner Mike Freeman talks about the impact of energy development on the county’s economy:
Posted July 9, 2013
API’s new advertising campaign launched this week underscores the broad support in America for construction of the full Keystone XL pipeline. Here’s our new television ad
Posted July 4, 2013
Petroleum products are everywhere – from the time your iPhone alarm rings in the morning to the time you turn off the lights at night, oil and natural gas impacts almost every aspect of life. And it’s not just electronics – from toothpaste to medicines, to clothing to the roof over your head, when you stop to think about it, the oil and natural gas industry is an integral part of the American way of life.
Oil and natural gas contribute to our health and well-being through a myriad of medicines, medical supplies and health and safety products. Aspirin is synthesized from petroleum byproducts, and advanced medical devices such as heart valves and artificial limbs are made of plastic. Kevlar®, a lightweight fiber that’s five times stronger than steel helps keep our armed forces safe and our police forces protected – and it all began with oil and natural gas.
Posted July 3, 2013
Now that a federal court has stopped implementation of a new rule that would’ve required U.S. oil and natural gas companies to publicly release commercially sensitive information about foreign and domestic projects, discussion should turn to transparency tools that won’t hurt U.S. companies’ global competitiveness and potentially cause job losses.
The decision by the U.S. District Court for the District of Columbia halts implementation of the Securities and Exchange Commission’s controversial Section 1504 within the Dodd-Frank Act. Under the provision, publicly traded U.S. energy companies would have to reveal extensive data about how much they pay in licenses, taxes, royalties and other fees to foreign governments – essentially giving foreign competitors that aren’t subject to SEC rules a big advantage in the bidding process for energy contracts. The court ruling should clear the way for effective transparency that doesn’t put U.S. companies behind the 8-ball. Harry Ng, API vice president and general counsel:
Posted June 28, 2013
Raise your hand if you’ve played “Whack-A-Mole,” the old staple of arcades and carnivals, where the object is bopping the heads of mechanical varmints with a padded mallet as they rapidly and randomly pop up through multiple holes in the game table.
The concept pretty well captures tactics Keystone XL pipeline and Canadian oil sands opponents have used to help delay the Keystone XL, a shovel-ready project that would create tens of thousands of U.S. jobs, help grow our economy and make the U.S. more energy secure.
Posted June 25, 2013
Wall Street Journal - Texas' Next Big Oil Rush
Refineries in Texas are seeing a much-needed boost as pipelines begin to carry landlocked crude oil from U.S. shale plays to the Gulf Coast. This increase in domestic crude oil is due to increased hydraulic fracturing and shale development across the country. (Subscription publication)
USA Today – Report: Oil Sands No More Corrosive Than Average Crude
A new report from the National Research Council found “no evidence … that Alberta’s pipeline contents are more corrosive than average crude oil.”
Posted June 21, 2013
U.S. Sen. Tim Kaine of Virginia, explaining in a Washington Post op-ed why a self-identified “pro-pipeline senator” opposes the Keystone XL pipeline:
As a former mayor of Richmond, a city with a gas utility, I think it makes no sense to be anti-pipeline. But I oppose the Keystone XL project. Although the president’s decision is technically over whether to allow a pipeline to deliver oil from Alberta to the coast of the Gulf of Mexico, the real issue isn’t the pipeline. It’s the wisdom of using tar sands oil. … By most accounts, oil from tar sands is 15 to 20 percent dirtier than conventional petroleum, and the process of extracting and refining it is more difficult and resource-intensive. With so many cleaner alternatives, there is no reason to embrace the use of a dirtier fuel source. Approving the pipeline would send a clear signal to the markets to expand the development of tar sands oil. Such an expansion would hurt our nation’s work to reduce carbon emissions. We have to make energy cleaner tomorrow than it is today. That’s why the president should block Keystone. … Tar sands oil is the opposite of an innovative, make-it-cleaner approach. It represents a major backslide.
Sen. Kaine is right on a number of energy issues – supporting more offshore drilling for oil and natural gas as well as more natural gas development from hydraulic fracturing – but on the Keystone XL he’s just wrong. Let’s take a closer look.
Posted June 20, 2013
One hundred forty-five of the president’s 2012 campaign staffers have written a letter to their former boss urging him to reject the Keystone XL pipeline:
“We trust you to make the right decision after you weigh all arguments, but one thing you taught us as organizers is that nothing can stand in the way of millions of voices calling for change. … You can help cement your legacy as a climate champion by rejecting this pipeline. You already know all the reasons we can’t afford this pipeline – that it will lock in gigatons of carbon pollution over the next four decades and that it could spill into our nation’s most valuable water sources – we’re just asking you to think of us as you make up your mind.”