Energy Tomorrow Blog
Posted June 5, 2013
Ernst & Young has a new study detailing $185.6 billion in total capital spending by oil and natural gas companies last year – the largest in the history of the firm’s oil and natural gas reserves study. Marcela Donadio of Ernst & Young:
The study of U.S. upstream (pre-refinery stage) capital spending by the 50 largest companies (based on 2012 end-of-year oil and natural gas reserve estimates) found a 20 percent increase compared to 2011. Ernst & Young said the increase was largely due to increased tight oil and liquids activity. That refers to development in tight-rock formations, made possible by hydraulic fracturing and horizontal drilling.
“The increased exploration and development spend we’re seeing in this year’s study speaks to the incredible opportunity unfolding in tight oil from shale formations and the high cost of developing these unconventional resources.”
Posted February 21, 2013
While the White House talks again about raising taxes on oil and natural gas companies, let’s look at a chart that captures the starkly different outcomes – in terms of revenue for government – from two policy paths: higher energy taxes vs. increased energy development:
Posted February 11, 2013
Let’s talk oil and natural gas company earnings. Today, three charts that illustrate some of the things we’ve been saying for some time:
- Earnings equal return on investment, which is great news for millions of Americans – the true owners of these companies. (More here from Ken P. Cohen’s Perspectives blog.)
- Oil and natural gas companies are investing in America in a way unsurpassed by other industries.
- America’s oil and natural gas companies pay their fair share – and more – in taxes.
Posted July 13, 2012
Posted June 27, 2011
Jane Van Ryan
Posted April 27, 2011
Posted April 25, 2011
Jane Van Ryan
Posted July 14, 2009