Energy Tomorrow Blog
Posted August 14, 2014
Energy figures to be an important voting issue come November in a number of key states, new polling indicates. In separate surveys conducted by Harris Poll registered voters in Florida, Missouri, New York, New Jersey and Pennsylvania – 70 percent or more in each state – said they are more likely to favor a candidate who supports increasing oil and natural gas production and energy infrastructure.
Another result that could generate traction in this fall’s elections: More than 60 percent of registered voters in each of the states said they think the federal government doesn’t do enough to encourage the development of the nation’s energy infrastructure.
Posted August 13, 2014
America’s energy revolution is reality. Thanks to vast reserves of oil and natural gas in shale and other tight-rock formations, developed with advanced hydraulic fracturing and horizontal drilling, the United States is the world’s leading producer of natural gas and by next year could be No. 1 in oil production.
Yet, the dramatic shift in the U.S. energy picture – from one of scarcity and limits just a few years ago to abundance and opportunity – could be just a memory without policies and actions to sustain it. Key to keeping the domestic energy revolution going is offshore development. The ability to explore for and develop new offshore oil and natural gas reserves is vital to maintaining America’s status as an energy superpower – a point grasped by a strong majority of U.S. voters in recent polling.
That’s the main thrust of official comments just submitted by API and 10 other associations to officials who are assembling the next federal five-year offshore leasing plan that will establish where the federal government plans to lease offshore blocks for exploration and development from 2017 to 2022.
Posted July 23, 2014
There are three connected points in a new poll of registered U.S. voters on domestic oil and natural gas development that should resonate in Washington: Strong majorities of registered voters support more domestic drilling and production, they don’t think the federal government does enough to encourage development of domestic resources and they’re inclined to vote for political candidates who support oil and natural gas development here at home.
AP Upstream Group Director Erik Milito talked about the survey of 1,012 registered voters and issues related to increasing access to domestic oil and natural gas reserves during a conference call with reporters:
“Voters from across the political spectrum want to find and tap the vast oil and natural gas resources waiting to be discovered off our shores. Our industry stands ready to do the job safely and responsibly, and the benefits to our economy and our national security are impossible to deny. All the federal government needs to do is say, ‘Yes.’”
Posted July 9, 2014
Hydraulic fracturing is a proven, safe technique that has been used since 1949 in over one million wells right here in the U.S. As a result, America is now the number one producer of natural gas in the world, and by 2015, it is expected that we will take the top spot in crude oil production. Of course, with this success, come both benefits and challenges.
Posted July 1, 2014
Oh, New York. As if your six-year-old moratorium on hydraulic fracturing – an unforced error that’s costing thousands of jobs and dynamic growth – isn’t bad enough for your economy, now there’s a court ruling extending the opportunity for dubious policymaking to the local level, potentially impacting state residents who can least afford it.
This week’s decision by the state Court of Appeals, that towns and municipalities may ban hydraulic fracturing within their borders, looms as a new frustrating turn for landowners. Especially those in the Southern Tier, an economically starved belt of counties along the Pennsylvania border.
It’s hard to see how energy development – that could save family farms, provide good career paths for the region’s young people and boost the regional economy – wouldn’t be chilled by the prospect of a string of localized bans. For New York property owners, the ruling could mean that economic development will continue to be something that happens in Pennsylvania, not at home.
Posted May 13, 2014
Opportunity, jobs, investment, economic growth – all are in the balance as America chooses it course on energy development. Thanks to the U.S. energy revolution, built on surging production of oil and natural gas from shale and other tight-rock formations, for the first time in decades Americans can choose the energy narrative instead of having it dictated to them.
These themes were highlighted during “The Great Energy Debate” hosted by Politico. With congressional mid-term elections coming this fall, the discussion is timely and so very important to what could be an historic choice.
Posted February 7, 2014
Big news from the Commerce Department this week is that U.S. exports rose to a new high in 2013 and imports dropped to their lowest level since 2009 for the smallest U.S. trade deficit since 2009 – thanks largely to reduced oil imports due to growing domestic production and record exports of products made from petroleum. The Wall Street Journal (subscription required) reports:
A booming domestic energy industry is largely responsible for the turnaround. Not adjusted for inflation, the value of petroleum exports—a category that includes gasoline, kerosene, lubricants, solvents and other products—reached a full-year peak in 2013. Petroleum imports, by value, were the lowest since 2010 and the volume of crude-oil imports, at 2.8 billion barrels, were the lowest since 1995.
Bloomberg reports the U.S. trade gap narrowed to $471.5 billion last year from $534.7 billion in 2012, with the trade balance on petroleum products shrinking to 20.2 percent, the biggest decline in four years.
Posted January 27, 2014
Indications are that President Obama’s State of the Union message tomorrow night will key in on making 2014 a “year of action” to create jobs and grow the economy, which he addressed earlier this month in one of his weekly radio addresses:
“… we’ve got to keep our economy growing, and make sure more Americans have the opportunity to share in that growth. We’ve got to keep creating jobs that offer new opportunity, and make sure those jobs offer the wages and benefits that let you rebuild some security. … This will be a year of action. I’ll keep doing everything I can to create new jobs and new opportunities for American families – with Congress, on my own, and with everyone willing to play their part.”
America’s oil and natural industry is ready to play a part in an action agenda that helps advance a number of the president’s goals, including job creation, economic growth, income inequality, environmental protection and energy security.
Posted December 3, 2013
International Energy Agency (IEA) Chief Economist Fatih Birol was at CSIS this week, highlighting the organization’s findings in its 2013 World Energy Outlook. The report focuses on global energy demand growth, the future energy mix and the sources of energy. Key takeaways from Birol’s presentation:
- The United States could become the world’s leading oil producer as early as 2015, two years earlier than IEA projected a year ago, Birol said.
- About two-thirds of the growth in global energy demand between now and 2035 will come from Asia.
- U.S. energy production, especially surging natural gas output from shale via hydraulic fracturing, is creating energy cost differentials that make American products more competitive in the global market.
Posted December 2, 2013
Our energy renaissance – largely due to development of America’s enormous shale reserves with hydraulic fracturing – can generate good-news stories virtually every day. At the start of the gift-giving season, here are a few of those stories that underscore the opportunity we have in this country to take greater control of our energy future while creating jobs that can lead to better futures for American workers and their families.