Energy Tomorrow Blog
Posted July 26, 2019
Historically, tensions in the Strait of Hormuz – like those currently between the U.S. and Iran – would portend serious price impacts for American consumers. But not anymore, thanks to the U.S. energy revolution. As it turns out, America’s strongest defense against crude oil supply disruptions is our homegrown energy offense.
Posted July 25, 2019
With Ohio’s passage of a corporate bailout for nuclear and coal-burning power plants – a consumer-funded subsidy that could amount to more than $1 billion through 2027 – Columbus Dispatch metro columnist Ted Decker lamented: Why are ratepayers paying the price for one company’s ineptitude?
A great question that apparently didn’t register with a majority in the state legislature or Gov. Mike DeWine. Then again, they weren’t persuaded to back off the subsidy plan when confronted by Ohio public opinion, which overwhelmingly opposed docking the state’s ratepayers on a monthly basis to bail out two nuclear power plants.
Posted July 24, 2019
An important test of energy leadership is whether elected officials will act to enhance and protect strategic energy interests – a point we made in a post last week about smart, forward-looking policies that foster safe and responsible offshore energy.
A leadership corollary: First, do no harm.
We say that because, in a nation that’s the No. 1 producer of natural gas and oil in the world, leaders shouldn’t be making energy decisions that hurt those they’re supposed to serve. Unfortunately, in New York, there has been quite a bit of pain inflicted on New Yorkers by the Cuomo administration’s energy agenda.
Posted July 22, 2019
Natural gas and oil play a role in virtually all aspects of modern life, powering the products and processes that get us from point A to point B, and serving as building blocks for the materials, products and tools that keep us happier, healthier and more connected than ever before.
Posted July 18, 2019
Natural gas continues to be a leader in progress on key climate and environmental goals.
Data contained in two new reports point to the role clean natural gas has played in reducing carbon dioxide, an important greenhouse gas, and in improving the quality of the air Americans breathe.
Posted July 18, 2019
Domestic oil production continues to benefit the U.S. – increasing energy security and driving economic growth – and cushion the economy as well as American consumers against global events that in the past impacted energy supplies, costs and prices.
Strength stemming from the U.S. energy revolution is seen in API’s latest Monthly Statistical Report (MSR), with U.S. crude oil exports setting a new record in June at 3.3 million barrels per day (mb/d), which represents growth of 1.1 mb/d over June 2018. Moreover, U.S. petroleum net imports fell to 1.3 mb/d in June from 2.9 mb/d in June 2018 – a major step closer to the U.S. becoming a net exporter of oil.
In other words, the U.S. has continued to supply virtually all of the world’s growing oil needs for transportation and industry, which has increased the stability of the global supply while generally lessening energy-related tensions.
Posted July 17, 2019
Legislation in Congress that could cripple future U.S. offshore energy development needs to be seen for the longer-term damage it could do to America’s strategic energy and national security.
One House bill would permanently extend a moratorium on development in the Eastern Gulf of Mexico; another would permanently bar leasing in the Atlantic and Pacific oceans.
Given projected growth in America’s energy needs, such shortsighted legislation fails the test of leadership in setting energy policy that will enhance and protect our nation’s strategic interests.
Posted July 12, 2019
An interesting read in the Wall Street Journal underscores what we’ve been saying about the nation’s need for more energy infrastructure: Basically, that despite record natural gas production, Americans in some parts of the country aren’t benefiting from it as much as they should. The Journal:
U.S. gas production rose to a record of more than 37 trillion cubic feet last year, up 44% from a decade earlier. Yet the infrastructure needed to move gas around the country hasn’t kept up. … The result, despite natural-gas prices that look low on commodities exchanges, is energy feast and famine.
Posted July 11, 2019
Exports of U.S. liquefied natural gas (LNG) are set to jump a projected 72 percent this year compared to 2018, and the emergence of the U.S. as one of the world’s largest LNG suppliers is good news for the American economy. Research shows LNG exports could generate up to 452,000 U.S. jobs, and add up to $74 billion annually to U.S. GDP, by 2035.
The environmental benefits are no less significant.
Posted July 10, 2019
There’s much in the latest government report that signals U.S. global energy leadership is strengthening, mostly thanks to continued robust domestic production.
From record volumes of natural gas and oil to growing exports of liquefied natural gas (LNG), America’s opportunities to bring greater stability to energy markets, assist allies, lead the world in reducing greenhouse gas emissions and benefit consumers here at home have increased.