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Energy Tomorrow Blog

Energy Renaissance Continues to Help Grow Our Economy

economic growth  exports  trade 

Dean Foreman

Dean Foreman
Posted July 27, 2018

The U.S. gross domestic product (GDP) increased 4.1 percent in the second quarter at a seasonally-adjusted annualized rate, its best pace since 2014, driven by strong consumer and business spending as well as a surge in exports ahead of retaliatory tariffs from China. As the energy renaissance has continued to raise U.S. natural gas and oil production and exports to record levels, these abundant and affordable fuels and feedstocks contribute to the economy and — by themselves — generated nearly half of the growth in U.S. real exports in Q2.

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New Study, Familiar Result: LNG Exports Benefit U.S.

lng exports  natural gas benefits  economic growth  trade 

Mark Green

Mark Green
Posted June 13, 2018

The U.S. Energy Department’s latest study on the economic impacts of exporting liquefied natural gas (LNG) reaches a by-now familiar top-line conclusion: Exporting U.S. LNG is good for the economy, and those benefits will outweigh domestic cost impacts.

We say familiar, because this is the fifth DOE study on LNG exports – and the fifth to describe broad, positive economic impacts for the United States from shipping natural gas to friends and allies overseas – which should end claims that LNG exports could harm American consumers.

Certainly, no one can say the issue hasn’t been thoroughly analyzed – not after five government studies and two commissioned by our industry (see here and here).

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Natural Gas Abundance Generates Export Opportunities

lng exports  natural gas  consumers  economic growth 

Dean Foreman

Dean Foreman
Posted February 28, 2018

In the first API Chart of the Month, we looked at historical U.S. trade in oil and natural gas. This month, let’s examine global liquefied natural gas (LNG) prices, which increasingly have helped to anchor U.S. natural gas production and reinvigorate local jobs, wages, housing, education and services – everything that comes with major new capital projects and their broad-based boost to the economy.

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Industry Drives Economic Opportunity, Prosperity

economic growth  jobs  power-past-impossible 

Mark Green

Mark Green
Posted February 23, 2018

In the natural gas and oil industry, measuring opportunity starts with 10.3 million – the number of jobs our industry supports. Because a job is economic livelihood for individual Americans and their households. They’re the avenue to something better. 

Listen to Carmen Segovia talk about opportunity. She’s an advanced IT business analyst with Marathon Oil who recognizes that her professional success stems from hard work, family and opportunity within our industry to grow and prosper.

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Let’s Hear It: The Benefits of Safe Offshore Energy

offshore leasing plan  consumers  economic growth  safe operations  us energy security  spill 

Mark Green

Mark Green
Posted February 8, 2018

As a nation, we have a tremendous opportunity to safely and efficiently harness our offshore natural gas and oil reserves. Here are three important points that should be prominent during the public hearing phase of the process to develop the next federal offshore leasing plan.

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Keep U.S. Energy Gains Going

state of the union  oil and natural gas  us energy security  economic growth  regulation  trade  access 

Mark Green

Mark Green
Posted January 29, 2018

Looking ahead to Tuesday night’s State of the Union Address, let’s hope the speech helps Washington focus on accelerating gains made by U.S. energy over the past several months. America’s natural gas and oil renaissance has boosted the economy and Americans’ individual prosperity while strengthening our country’s security and making significant environmental strides. Time to double down on that progress.

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Energy, Technology Enable U.S. Prosperity.

economic growth  oil and natural gas  technology  energy policy 

Dean Foreman

Dean Foreman
Posted January 11, 2018

Metropolitan areas that are near natural gas, oil and mining activity have been exceptionally productive and able to sustain high productivity over time, according to a recent Brookings Institution study. While overall U.S. productivity has continued to slow, metro area participation in the energy and technology booms has become a precursor of high productivity and growth.

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Connect Offshore Policy With America's Energy Reality

offshore energy development  offshore leasing plan  safe operations  us energy security  economic growth  spill 

Mark Green

Mark Green
Posted October 12, 2017

What we see here are the outlines of a serious disconnect between current U.S. offshore policy and reality – that with the U.S. and the world projected to see significant growth in energy demand, the United States has more than 90 percent of its offshore reserves locked away, unavailable even for the studies and tests needed to determine the potential size and location of those reserves.

Given the long lead times needed to develop the offshore, the United States’ current policy posture needs a course correction. 

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Natural Gas Abundance and LNG Exports

lng exports  natural gas  consumers  economic growth  jobs 

Mark Green

Mark Green
Posted October 3, 2017

Here’s what we’ve learned since a 2013 study projected job and economic gains from exporting U.S. liquefied natural gas: The jobs and economic growth are still positive and significant, the domestic price impacts are about half of what was estimated four years ago and we have more natural gas than we thought.

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Ensure Tax Reform is Pro-Growth

economic growth  earnings  energy development  investment  jobs  royalties  taxes  trump 

Mark Green

Mark Green
Posted August 31, 2017

President Trump’s call for tax reform this week, kicking off the administration’s push for pro-growth measures to spur investment, create jobs and raise earnings is one we can certainly understand. The president said:

“We need a competitive tax code that creates more jobs and higher wages for Americans. It’s time to give American workers the pay raise that they've been looking for, for many, many years. … If we do this, if we unite in the name of common sense and the name of common good, then we will add millions and millions of new jobs, bring back trillions of dollars, and we will give America the competitive advantage that it so desperately needs and has been looking for for so long. It’s time.”

No argument here. The natural gas and oil industry is about economic growth: investing, creating jobs and boosting worker pay for years – on the way to supporting 10.3 million jobs while adding $1.3 trillion to the national economy and aiding growth across all 50 states. 

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