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Energy Tomorrow Blog

Shale Natural Gas is Boosting the U.S. Economy, Trade, Jobs

exports  jobs  ohio  maryland  texas  north dakota 

Mary Leshper

Mary Schaper
Posted April 29, 2014

NEW YORK (AP) — Whether to allow more exports of U.S. oil and natural gas has become a matter of political debate in Washington. But to economists, the answer is clear: The nation would benefit.

The vast majority of economists surveyed this month by The Associated Press say lifting restrictions on exports of oil and natural gas would help the economy even if it meant higher fuel prices for consumers.

More exports would encourage investment in oil and gas production and transport, create jobs, make oil and gas supplies more stable and reduce the U.S. trade deficit, they say.

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Economic Benefits of American Energy Ripple Across the Country

Economy  jobs  american energy  manufacturing  infrastructure  texas  education 

Mary Leshper

Mary Schaper
Posted April 25, 2014

Reuters: Call it the comeback kid.

 

A new ranking of the competitiveness of the world's top 25 exporting countries says the United States is once again a "rising star" of global manufacturing thanks to falling domestic natural gas prices, rising worker productivity and a lack of upward wage pressure.

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American Energy Continues to Be a Success Story

american energy  jobs  fracking  california  texas  keystone xl pipeline 

Mary Leshper

Mary Schaper
Posted April 23, 2014

The Energy Information Administration (EIA) released new data yesterday on international energy production for the months of November and December 2013. For the 14th straight month starting in November 2012, total petroleum production (including crude oil and other petroleum products like natural gas plant liquids, lease condensate, and refined petroleum products) in “Saudi America” during the month of December at 13 million barrels per day (bpd) exceeded Saudi Arabia’s output at 11.65 million bpd (see chart above).

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What’s Fueling State Economies and Jobs Across the Country? Energy.

texas  pennsylvania  west virginia  alaska  wyoming  ohio  Economy  jobs  lng 

Mary Leshper

Mary Schaper
Posted April 15, 2014

Reading through the news-clips today one big message stood out: Energy is delivering promise and opportunity for states across the country. American energy is boosting local economies – from creating jobs to providing the energy we need. Take a look at what’s happening in energy in your state:

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Energy Discovery and Innovation is Bringing Benefits

Economy  jobs  fracking  texas  ethanol  renewable fuel standard 

Mary Leshper

Mary Schaper
Posted April 11, 2014

NPR: South Texas is in the midst of a massive oil boom. In just a few years, it has totally transformed once-sleepy communities along a crescent swoosh known as the Eagle Ford Shale formation and has brought unexpected prosperity — along with a host of new concerns. Among the towns drastically changed by the drilling is Cotulla, southwest of San Antonio, about 70 miles up from the border with Mexico. The area is called brush country — flat, dry ranch land, scrubby with mesquite and parched by drought.

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The Promise of American Energy, Today and Tomorrow

american energy  Energy Security  Economy  jobs  fracking  texas  oklahoma  pennsylvania 

Mary Leshper

Mary Schaper
Posted March 31, 2014

Over the past few years, the U.S. has witnessed a dramatic turnaround in its energy situation. Thanks largely to a combination of horizontal drilling and hydraulic fracturing, or "fracking," energy producers have been able to tap vast oil and gas deposits buried in deep shale formations. As a result, domestic oil and gas production has surged to multi-decade highs.

This energy boom has yielded tremendous and widespread economic benefits to the United States. A statement from the White House Council of Economic Advisors last year summed it up nicely: "Every barrel of oil or cubic foot of gas that we produce at home instead of importing abroad means more jobs, faster growth, and a lower trade deficit." Let's take a closer look at some of the main ways the energy boom has helped the nation's economy.

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U.S. Energy is Fueling Growth, Revival

american energy  fracking  jobs  lng exports  manufacturing  texas  ohio 

Mary Leshper

Mary Schaper
Posted March 28, 2014

The nation's energy boom, stoked by technological advances both onshore and offshore, drove significant economic growth for the oil and gas industry, which also fueled a corresponding population boom in resource-rich areas such as North Dakota and Texas between 2007 and 2012, according to the U.S. Census Bureau.

The bureau's Economic Census Advance Report, released Wednesday, provides the first comprehensive look at the U.S. economy since the Great Recession, supplying data on a series of key metrics across more than 1,000 industries. The report comes out every five years.

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America’s Energy Reality: Surging Domestic Output Drives U.S. Toward Self-Sufficiency

american energy  fracking  exports  lng  texas  policy 

Mary Leshper

Mary Schaper
Posted February 28, 2014

U.S. Will Meet Energy Needs by 2020, Citi Researcher Says

Forbes: By the end of this decade, the United States will produce all the energy it needs, the head of commodities research for Citigroup said in Chicago Thursday.

Edward L. Morse, managing director and global head of commodities for Citi, said the gas and oil boom will combine with improved efficiency to make the U.S. a net-zero importer of energy by 2020.

“I think that the chances are close to 100 percent that the U.S. will be supplying 100 percent of its energy requirements for power generation and transportation,” Morse told about 100 people at a Fairmont Hotel gathering sponsored by The Chicago Council on Global Affairs.

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Resurgent U.S. Oil, Natural Gas Reblancing Global Energy Order

global markets  texas 

Mary Leshper

Mary Schaper
Posted October 3, 2013

U.S. Overtaking Russia as Largest Oil and Natural Gas Producer

Wall Street Journal: The U.S. is overtaking Russia as the world's largest producer of oil and natural gas, a startling shift that is reshaping markets and eroding the clout of traditional energy-rich nations.

U.S. energy output has been surging in recent years, a comeback fueled by shale-rock formations of oil and natural gas that was unimaginable a decade ago. A Wall Street Journal analysis of global data shows that the U.S. is on track to pass Russia as the world's largest producer of oil and gas combined this year—if it hasn't already.

The U.S. ascendance comes as Russia has struggled to maintain its energy output and has yet to embrace technologies such as hydraulic fracturing that have boosted American reserves.

 

Read more: http://on.wsj.com/1g4yqJZ

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Hydraulic Fracturing, Keystone XL Boost America’s Energy Potential

hydraulic fracturing  texas  keystone xl  lng exports 

Mary Leshper

Mary Schaper
Posted September 13, 2013

Texas Oil Production Could Outpace Iran, Iran and Kuwait in a Few Years

International Business Times: Texas oil production continues to surge as the fracking boom frees up previously unreachable oil, and a recent report finds that if the state were an independent country, it would rank 10th overall in production, according to the American Enterprise Institute.

Based on international oil production numbers released by the Energy Information Administration, the current pace of annual increase in Texas was 30 percent or more, indicating production could surpass 3 million barrels per day by early 2014 and reach 4 million barrels per day by 2015.

In 2010 Texas, if it were its own separate country, would have been the 20th largest oil-producing country in the world. The rapid increase in oil output over the past few years is attributed to the extraction of unconventional shale oil in the U.S.

Read more: http://bit.ly/18WXvRL

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