Energy Tomorrow Blog
Posted July 10, 2018
Offshore energy development works for the states – all of them.
The U.S. Interior Department recently announced that $61.6 million in revenues from offshore oil and natural gas will be distributed to all 50 states, U.S. territories and the District of Columbia – via grants that support state conservation and outdoor recreation projects.Ponder that: You don’t have to be a coastal state; you don’t have to be a producing state. Under the Gulf of Mexico Energy Security Act (GOMESA), everyone benefits from offshore natural gas and oil revenues that are earmarked for Land and Water Conservation Fund (LWCF) grants.
Posted June 8, 2018
Our industry supports increased access to America’s offshore natural gas and oil. The benefits promise to be broad for coastal states and the entire country. Responsible development is safe, well-regulated and compatible with other uses, including those of our military.To advance the nation’s strategic interests that are tied to careful offshore natural gas and oil, API this week announced the launch of “Explore Offshore,” a diverse coalition of more than 100 local leaders, community organizations, businesses and associations from five Atlantic and Gulf Coast states that supports increased offshore access.
Posted May 22, 2018
Hurricane Season 2018 finds our industry, the refinery and pipeline sectors and associated industries prepared to protect energy production facilities and infrastructure that are vital to keeping Americans well supplied, even during severe weather conditions.
That was the message from natural gas and oil and other energy-related sectors during a conference call with reporters. The 2017 hurricanes, Harvey and Irma, confirmed the importance of pre-event training, established emergency protocols, coordinated communications and overall preparation – which our industry and others already are undertaking as June 1, the official start of hurricane season, approaches. API was joined on the call by the Petroleum Marketers Association of America (PMAA), American Fuel and Petrochemical Manufacturers (AFPM), American Gas Association (AGA), Interstate Natural Gas Association of America (INGAA) and the National Ocean Industries Association (NOIA).
Major weather events test preparations; we and our energy partners are focused on being as prepared as possible for this season.
Posted May 16, 2018
For some time we’ve stressed that offshore oil and natural gas production is compatible with a variety of other ocean uses such as fishing and tourism – and most significantly, with the U.S. military’s need for open-water areas to conduct training exercises, advanced weapons testing and the like. Industry has a long track record of developing offshore energy in a manner that successfully coexists with the military’s needs in the Gulf of Mexico and other areas.
The same would be true in the Eastern Gulf of Mexico if a moratorium on offshore development there, in place since 2006, is allowed to expire in 2022 – creating access to key new areas for safe exploration and development of strategically important oil and natural gas. A new analysis by the Defense Department agrees.
Posted May 2, 2018
The most recent federal Gulf of Mexico oil and natural gas lease sale was described in some media reports as “disappointing,” “modest” and “tepid.” But there’s another, more positive way to look at it.
First, every offshore lease sale the federal government holds is welcome by industry, because each represents new opportunity for the market to work as it should – with companies making investment decisions based on the potential for significant natural gas and oil production.
A more important point underscored with the Gulf sale is one we’ve been making for some time – that the federal government needs to make available new offshore areas for study, research, exploration and development.
Posted March 29, 2018
Recent analysis of the potential economic benefits of offshore natural gas and oil, finding that coastal states and the nation could see billions in annual industry spending, job creation and federal revenue sharing dollars over a 20-year period, has the attention of leaders in one of those key states – Virginia.
A group of 21 Virginia businesses, associations and other organizations have written to federal officials in support of opening more of the U.S. outer continental shelf (OCS) to safe development. The comments were filed with the Bureau of Ocean Energy Management (BOEM), which is putting together a new federal offshore leasing plan that will blueprint development from 2019-2024.
Posted March 26, 2018
Let’s correct a false narrative out there, that the Trump Administration is rolling back natural gas and oil regulation to benefit industry. A different view is that federal officials are deploying smarter, more efficient, more effective regulation of industry operations, onshore and offshore – which will work best to ensure the safe and well-managed energy development America needs for economic growth and national security, today and well into the future.By smart, efficient and effective regulation we mean clear, commonsense rules that take into account industry’s innovation, advanced technologies and experience, as well as its long, demonstrated commitment to establishing useful standards for operations, equipment and personnel. All of these have strengthened the culture of safety in our industry – particularly in its offshore activities.
Posted March 23, 2018
Safely tapping America’s offshore natural gas and oil reserves could provide billions of dollars for the economies of coastal states – a big reason why the needs and voices across entire states, not just their coastal areas, must be considered in the offshore energy conversation.
For example, federal revenue sharing could help transform state economies by sending billions in royalties, rentals and fees to state coffers. By putting revenue-sharing programs in place – like those already working for the states of Alabama, Louisiana, Mississippi and Texas – North and South Carolina, Virginia, Florida, Georgia and other states could benefit from offshore energy development.
Posted March 9, 2018
When we talk about America’s offshore energy potential, we refer to the natural gas and oil reserves on the outer continental shelf (OCS), which the United States could harness for its strategic energy needs and long-term national security.
Yet, as four new regional studies for the Atlantic, Pacific, Eastern Gulf and Alaska OCS areas show, offshore development also could bring significant economic benefits to coastal states and the nation – in jobs and in-state spending by industry, as well as revenues from production royalties, lease bids and rental income that the federal government could share with individual states.
Posted March 6, 2018
Since Interior Secretary Ryan Zinke proposed opening most of the nation’s outer continental shelf to offshore leasing, we keep getting asked whether offshore energy development can coexist with tourism and fishing?
The answer is absolutely yes. And there’s a pretty good case study backing that up: The Gulf of Mexico.
While surging onshore oil and natural gas production have grabbed headlines the past few years, oil and natural gas production in the Gulf continues to play a critical role in meeting the nation’s energy needs.