Energy Tomorrow Blog
Posted August 28, 2018
API’s Kyle Isakower is featured in a CNBC report that estimates new steel tariffs are adding $40 million to Permian Basin pipeline costs. At issue is Plains All-American’s $1.1 billion pipeline project that would bring crude oil from the Permian to the Gulf Coast. As detailed in this post, Plains requested an exclusion from the tariff for its project, but it was denied by the Commerce Department. …
Far from being part of an “energy dominance” strategy, the administration’s tariffs on steel – including an onerous, opaque exclusions process – and other recent trade-related policies could hinder domestic natural gas and oil development, as well as infrastructure such as pipelines that is needed to fully benefit U.S. consumers.
Posted July 31, 2018
U.S. Energy Secretary Rick Perry makes a number of important points about domestic natural gas and oil production, hydraulic fracturing and U.S. energy exports in a piece for CNBC. These include: The United States is shedding dependence on imported energy; U.S. energy exports are helping friends and allies overseas; and natural gas is helping the U.S. lead in cutting greenhouse gas emissions.
Posted July 10, 2018
Offshore energy development works for the states – all of them.
The U.S. Interior Department recently announced that $61.6 million in revenues from offshore oil and natural gas will be distributed to all 50 states, U.S. territories and the District of Columbia – via grants that support state conservation and outdoor recreation projects.Ponder that: You don’t have to be a coastal state; you don’t have to be a producing state. Under the Gulf of Mexico Energy Security Act (GOMESA), everyone benefits from offshore natural gas and oil revenues that are earmarked for Land and Water Conservation Fund (LWCF) grants.
Posted July 3, 2018
As many of our long-time readers know, I am not the original author of this blog but have carried on a conversation Jane Van Ryan started in 2009. Jane, who passed away on Sunday, was part of the original Energy Tomorrow team, whose goal was to help tell the story of the people of America’s natural gas and oil industry.
A former television reporter, Jane knew how to tell a story and tell it well.
Posted June 21, 2018
The API Industry Outlook for the second quarter of 2018 is one of the things that’s new at API. If you follow energy markets, you’ll appreciate an incisive view of the economy at home and abroad as well as markets for crude oil, natural gas and petrochemicals.
Beyond nice-to-know “macro factors,” here are things to know and understand about trade barriers that could affect economic activity and prices where you work and live.
Posted June 11, 2018
Natural gas and oil touch nearly every aspect of life in Colorado – with responsible, well-regulated development that protects the environment and public health creating jobs and opportunity while providing significant support for public services, including the state’s education system. That’s broad message contained in a new report, “Progress and Opportunity,” just released by API.
Posted June 8, 2018
Our industry supports increased access to America’s offshore natural gas and oil. The benefits promise to be broad for coastal states and the entire country. Responsible development is safe, well-regulated and compatible with other uses, including those of our military.To advance the nation’s strategic interests that are tied to careful offshore natural gas and oil, API this week announced the launch of “Explore Offshore,” a diverse coalition of more than 100 local leaders, community organizations, businesses and associations from five Atlantic and Gulf Coast states that supports increased offshore access.
Posted June 6, 2018
For months, ISO New England CEO Gordon van Welie has had a consistent message: insufficient natural gas infrastructure continues to put the region’s customers at risk of service interruptions during periods of peak demand that often coincide with extreme weather conditions.
Posted June 1, 2018
The decision by the Trump administration to impose tariffs on imported steel, including key allies Canada, Mexico and the European Union, is the wrong direction for U.S. energy policy. While the full effect of these tariffs on steel-intensive business—and the U.S. economy—remains to be seen, the impacts will ripple through the natural gas and oil industry, compromising energy production and posing a threat to America’s national security.
Posted May 22, 2018
Washington is known for partisan political skirmishing, so it’s not surprising that a group of Senate Democrats is trying to score political points against this year’s tax reform legislation by suggesting that lowering the corporate income tax rate has been linked to the recent rise in gasoline prices.
Let’s straighten them out on a couple of important things about gasoline prices, which have nothing to do with tax reform.
First, per-barrel costs for crude oil – the No. 1 factor in the cost of producing gasoline and diesel – have risen due to a tighter global oil supply/demand balance and lower inventories compared to last year. Second, with a strong economy, U.S. petroleum demand has run at its highest levels since 2007 and was up by more than 750,000 barrels per day in April, compared with one year ago. Next, as they do every year around Memorial Day, the start of the summer driving season, Americans are traveling more, which could raise demand further. Finally, although gasoline prices have increased recently, they’re still lower than where they were four years ago, largely because of increased domestic oil production.