Energy Tomorrow Blog
Posted June 20, 2018
Two charts pretty well capture the what’s at stake for U.S. energy – specifically exports of domestic crude oil – in an intensifying trade standoff between the United States and China.According to U.S. Energy Information Administration figures, this is a very big deal. Big as in U.S. crude oil exports to China accounted for about one-fifth of all U.S. oil exports in 2017 – growing from basically nothing in 2013 to 81.6 million barrels last year.
Posted June 14, 2018
With Wall Street Journal headlines such as “Trans-Atlantic Oil-Price Spread Soars as Supply Glut Disappears,” it might be hard to remember that the United States’ domestic oil production stood at a record 10.5 million barrels per day (mb/d) in April, and the nation’s petroleum trade balance is in its best position in 50 years. This has reinforced U.S. energy security, lowered the trade deficit and boosted economic growth.
That said, given our country’s much improved energy outlook, some may question why we’re still importing crude oil and refined products. And, while we’re still importing oil, why do we export domestic crude – especially when prices have risen at the pump? Why don’t we just keep American oil at home? ...
Answers are found in an understanding of basic market realities.
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).
Posted March 27, 2018
The U.S. Energy Information Administration reports that the U.S. has become a net natural gas exporter for the first time since 1957 and that exports of liquefied natural gas (LNG) quadrupled in 2017 over 2016. Here's why these developments are important for the United States.
Posted March 12, 2018
Posted February 28, 2018
Posted November 15, 2017
Posted October 3, 2017
Posted August 14, 2017
A couple of new data points from the government show the importance of U.S. liquefied natural gas (LNG) exports to America’s trading posture and to its global energy security role, as a growing supplier of natural gas. First, the U.S. Energy Information Administration (EIA) reports that the U.S. exported more natural gas than it imported in three of the first five months of this year – February, April and May – which is historic since the U.S. has been a net importer (on an average annual basis) for nearly 60 years.
Posted August 7, 2017