Energy Tomorrow Blog
Posted September 14, 2015
Safe, responsible energy development in the Gulf of Mexico is vital to the U.S. economy and job growth, as well as U.S. energy and national security. Each of these points likely will come up during a U.S. House Natural Resources Committee hearing on the impact of federal policies on energy production and economic growth in the Gulf, Tuesday in New Orleans.
Posted September 8, 2015
As we can see with Arkansas, the energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.
Posted September 3, 2015
As we can see with New York, the energy impacts of the states individually combine to form energy's national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.
Posted September 2, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Nevada. We started the series with Virginia on June 29 and began this week with a review of Louisiana and Rhode Island. All information covered in this series can be found online here, arranged on an interactive map of the United States. State-specific information across the country will be populated on this map as the series continues.
As we can see with Nevada, the energy impacts of the states individually combine to form energy’s national economic and jobs picture: 9.8 million jobs supported and $1.2 trillion in value added.
Posted July 8, 2015
A barrel of crude oil or petroleum product shipped by pipeline is safely delivered to its destination more than 99.999 percent of the time, but the industry’s objective remains: zero releases, zero incidents.
Toward that goal, API has just released a new standard to guide operators in the development of a systems approach to safety management – helping them to continuously evaluate their efforts and constantly improve safety. API Midstream Director Robin Rorick:
“Pipelines are safe and efficient, but we are always looking for new ways to make them better, which is why industry is embracing this new standard. It’s also a great example of what can be done when industry, regulators and all key stakeholders work together to achieve a common objective, which is to protect the public, the environment and provide the fuels Americans need.”
Posted May 28, 2015
If implemented, the stricter ozone standards could be the costliest regulation ever, potentially reducing U.S. GDP by $270 billion per year and $3.4 trillion from 2017 to 2040, according to a study by NERA Economic Consulting for the National Association of Manufacturers. The U.S. could see 2.9 million fewer jobs or job equivalents per year on average through 2040.
Yeah, that’s big.
Certainly, for those kinds of impacts Americans would expect them to be justified. But EPA’s proposal is starkly lacking in terms of the science and public health.
Posted May 27, 2015
With national ozone levels falling, some activists argue for stricter federal standards the best way they can – by pointing to the relatively few areas in the United States where ozone levels remain above the current standard of 75 parts per billion (ppb).
Yet, think about that. If an urban area like Los Angeles or Houston currently is out of attainment with the standard set at 75 ppb, how will lowering the national standard to 65 or 60 ppb – which EPA is considering – make a difference in those and other non-compliant areas? Good question.
The fact remains that the current standards are working. EPA data shows ozone levels declined 18 percent between 2008 and 2013.
Posted May 14, 2015
Our new ad lays out key facts about EPA’s move to tighten U.S. ozone standards. Howard Feldman, API’s senior director of regulatory and scientific affairs, talked about the messages in a new multimedia advertising campaign – that stricter ozone standards aren’t necessary because existing standards are making the air cleaner and effectively protecting public health – during a conference call with reporters. Chief points:
Ozone levels are down – Our air is cleaner and continues to get cleaner under 2008 ozone standards – and those aren’t even fully implemented yet. EPA data shows ground-level ozone in the U.S. dropped 18 percent between 2000 and 2013.
“Air quality will continue to improve as we implement the existing standards. Further tightening of the standards wouldn’t necessarily improve air quality any faster, but it could significantly impact U.S. jobs and the economy. … A lower standard could, for little or no health benefit, significantly constrain our nation’s economy and eliminate thousands of jobs.”
Posted April 27, 2015
Wall Street Journal op-ed (John Hess): While one can debate the reasons for the Organization of Petroleum Exporting Countries’ decision in November to continue flooding the oil markets, the fact is that this is squeezing many U.S. shale oil producers out of business. Oil prices have dropped by 50% in the past six months, and crude oil inventories in the U.S. have grown from 350 million barrels last year to more than 480 million barrels today.
Part of the reason inventory has ballooned is that crude produced in the U.S. is literally trapped here, because American firms are not allowed to sell it overseas. An antiquated rule bans crude oil exports from the lower 48 American states, even though producers could earn $5-$14 more per barrel by selling on the world market. At this moment the U.S. government is considering lifting sanctions on Iranian crude oil exports. Why not lift the self-imposed “sanctions” on U.S. crude exports that have been in place for the past four decades?
The export ban is a relic of a previous era, put in place around the time of the 1973 Arab oil embargo against the U.S., when Washington thought very differently about ensuring America’s energy needs. Other measures related to the 1973 embargo, such as price controls and rationing, were eliminated decades ago, as policy makers realized that they impeded, rather than aided, American energy security. But the ban on crude oil exports persists.
There is no defensible justification for the continued ban on the export of U.S. crude oil.
Posted April 23, 2015