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Energy Tomorrow Blog

Global Economic Recovery and Oil Markets in Context

economic recovery  oil markets  oil demand 

Dean Foreman

Dean Foreman
Posted August 26, 2020

The 2020 global economic recession, triggered by the COVID-19 pandemic and government responses to it, is the deepest since World War II. Yet the World Bank, along with the Bloomberg consensus, expect global GDP growth to rebound in 2021.   

It appears $15 trillion of global stimulus is likely to have a positive impact on economic growth – and, with enabling infrastructure, markets and policies, could become a source of optimism for global oil markets.  

Historically, global GDP growth and increased oil demand have gone together – once there’s impetus for growth there must be energy to fuel that growth.

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Video: No Malarkey, Natural Gas and Oil Critical to U.S. Security, Growth

us energy security  economic growth  manufacturing  president 

Mark Green

Mark Green
Posted August 25, 2020

Former Vice President Joe Biden, talking about the benefits of U.S. natural gas and oil in the years leading up to his 2020 presidential campaign:

“North American energy makes us independent.”

“We now have over a hundred years’ supply of natural gas that would enable us to meet every single need we have in America.”

“We’re positioned to own the 21st century. … North America will remain the epicenter of energy.”

… Clearly, there was a time when the former vice president was quite bullish on U.S. natural gas and oil. He recognized the strategic benefit of falling U.S. oil imports and the advantages of affordable, reliable energy to American manufacturing. … Unfortunately, things have changed.


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U.S. Petroleum Markets – July Progress and a Potential Turning Point

monthly-stats-report  economic growth  oil markets 

Dean Foreman

Dean Foreman
Posted August 21, 2020

We’re seeing cautious optimism in the news about oil markets, with crude’s comeback broadly continuing for a third consecutive month in July with the gradual re-opening of state economies. API’s Monthly Statistical Report (MSR) for August presents the latest details. 

U.S. petroleum demand has clearly rebounded, albeit at a slowing growth rate. We see this as good news for staying on a positive track and reflective of progress made to overcome continued challenges with COVID-19.

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California Blackouts Help Make the Case for Natural Gas

natural gas  renewable energy  california  electricity 

Mark Green

Mark Green
Posted August 20, 2020

Natural gas as the essential partner for renewables such as wind and solar is something we’ve talked about a lot (see here, here and here). Californians have been schooled on this point recently, with millions suffering under rolling blackouts during soaring temperatures because electrical utilities couldn’t keep pace with skyrocketing demand.

The state’s renewables mandate has played a role in their misery. By requiring that 60% of California’s electricity must come from renewables by 2030 and through green energy subsidies, the state has seen the competitive balance tilt away from other, more flexible power sources, including cleaner natural gas.

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New Polling Shows Americans’ Strong Belief in the Value of U.S. Natural Gas and Oil

poll  energy development  energy policy  election 

Mark Green

Mark Green
Posted August 20, 2020

Results of polling from a dozen key battleground and other states show voters recognize the present and long-term value of domestic natural gas and oil – to their daily lives, to the broader economy, to our nation’s security. 

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DNC Keynote Speakers Tout U.S. Natural Gas & Oil

energy production  economic benefits  emission reductions  politics 

Megan Barnett Bloomgren

Megan Bloomgren
Posted August 19, 2020

If Democratic policymakers want to ‘build back better’ while also keeping the lights on, they’ll want to support the continued development of America’s vast natural gas and oil resources, which provides reliable, affordable, and cleaner energy.

Democratic leaders like former President Barack Obama – who received a 97% favorability rating in 2018 among self-identified Democrats – and several other keynote speakers at this year’s Democratic National Convention have advocated for U.S. natural gas and oil, with some encouraging its growth to help lower household energy bills, reduce emissions, and create new American jobs.

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Why EPA’s Modified Methane Rule is Good for the U.S.

emission reductions  epa  greenhouse gases  methane  the-environmental-partnership 

Mark Green

Mark Green
Posted August 14, 2020

Three reasons EPA’s newly modified rule on methane is good for the environment and U.S. energy – because both are critically important for our nation’s growth and prosperity:

1. Industry will keep reducing emissions while innovating for the future

2. The rule is consistent with the federal Clean Air Act

3. Effective state regulation is recognized



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Modernization of EPA Natural Gas and Oil Standards Enables Continued Emissions Reductions

emission reductions  methane  natural gas 

Frank Macchiarola

Frank Macchiarola
Posted August 13, 2020

The U.S. oil and natural gas industry has long shared the Environmental Protection Agency’s (EPA) goal of reducing emissions from its operations and has consistently and successfully done so while meeting America’s energy needs every day. Specifically, methane is the natural gas we use in our homes and businesses, so operators have a strong incentive to bring it to market.

Methane emissions rates from five of the largest oil and natural gas producing regions across the U.S. – including the Permian and Marcellus basins in Texas, New Mexico, Ohio and Pennsylvania respectively – were down nearly 70%  from 2011 to 2018, even as production in those regions increased dramatically. Industry is committed to building on these positive trends through voluntary initiatives like The Environmental Partnership.

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Make Safety the Foundation of Your Home Improvement Project

811  pipeline safety  industry standards 

Sam Winstel

Sam Winstel
Posted August 11, 2020

On National 811 Day, we’re reminding DIYers to dial before you dig!

After several months of coronavirus-imposed quarantine, Americans are mastering the art of stay-at-home. With all those extra hours of downtime, people confined to their houses and apartments are cooking, crafting, exercising and, apparently, remodeling.

This spring, sales surged for home improvement equipment and materials at retailers like Lowe’s and Home Depot, and recent polling from Bank of America shows that more than 70% of Americans have decided to tackle a DIY renovation project during the pandemic.

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Keystone XL's New Labor Agreement and the Politics of Pipelines

keystone xl pipeline  safe operations  jobs  labor unions  economic growth 

Mark Green

Mark Green
Posted August 7, 2020

News item from Bloomberg: TC Energy Corp. has reached agreements with four labor unions to build the controversial Keystone XL oil pipeline – a move that could amplify political pressure on Joe Biden, who has threatened to rip up permits for the project even as he courts blue-collar workers.

Details in the announcement from TC Energy, Keystone XL’s builder: The project labor agreement (PLA) is with the Laborers International Union of North America (LiUNA), the International Brotherhood of Teamsters, the International Union of Operating Engineers, and the United Association of Union Plumbers and Pipefitters (UA); Keystone XL will have 10,000 high-paying construction jobs, primarily filled by union workers; 2,000 unionized workers will start building some of the project’s 28 planned U.S. pump stations this fall, according to Bloomberg.

Overall, Keystone XL is projected to support 42,000 U.S. jobs and generate $2 billion in earnings for U.S. workers during pipeline construction, according to the U.S. State Department, which also found that the project won’t significantly impact climate or the environment.


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