Energy Tomorrow Blog
Posted August 21, 2014
There’s much good to report from this week’s federal offshore drilling lease auction for the western Gulf of Mexico. But we can do better.
The good: nearly $110 million in apparent high bids over 81 blocks covering more than 430,000 acres, according to the U.S. Bureau of Ocean Energy Management (BOEM). The bid total represents a moderate increase over last year’s western Gulf sale that generated slightly more than $102 million in bids. BOEM estimates the sale eventually could yield 116 million to 200 million barrels of oil and 538 billion cubic feet (bcf) to 938 bcf of natural gas.
Broadly speaking, the fact that the federal government conducted an offshore lease sale is in itself encouraging. Development of vast offshore oil and natural gas reserves starts with leasing areas for exploration. That’s where we can do better. More sales are needed to begin the process of finding and developing offshore energy on the outer continental shelf, 87 percent of which is off limits by policy.
Posted August 13, 2014
America’s energy revolution is reality. Thanks to vast reserves of oil and natural gas in shale and other tight-rock formations, developed with advanced hydraulic fracturing and horizontal drilling, the United States is the world’s leading producer of natural gas and by next year could be No. 1 in oil production.
Yet, the dramatic shift in the U.S. energy picture – from one of scarcity and limits just a few years ago to abundance and opportunity – could be just a memory without policies and actions to sustain it. Key to keeping the domestic energy revolution going is offshore development. The ability to explore for and develop new offshore oil and natural gas reserves is vital to maintaining America’s status as an energy superpower – a point grasped by a strong majority of U.S. voters in recent polling.
That’s the main thrust of official comments just submitted by API and 10 other associations to officials who are assembling the next federal five-year offshore leasing plan that will establish where the federal government plans to lease offshore blocks for exploration and development from 2017 to 2022.
Posted July 23, 2014
There are three connected points in a new poll of registered U.S. voters on domestic oil and natural gas development that should resonate in Washington: Strong majorities of registered voters support more domestic drilling and production, they don’t think the federal government does enough to encourage development of domestic resources and they’re inclined to vote for political candidates who support oil and natural gas development here at home.
AP Upstream Group Director Erik Milito talked about the survey of 1,012 registered voters and issues related to increasing access to domestic oil and natural gas reserves during a conference call with reporters:
“Voters from across the political spectrum want to find and tap the vast oil and natural gas resources waiting to be discovered off our shores. Our industry stands ready to do the job safely and responsibly, and the benefits to our economy and our national security are impossible to deny. All the federal government needs to do is say, ‘Yes.’”
Posted April 28, 2014
Virginia is for lovers – of domestic oil and natural gas production and investments in energy infrastructure. That’s what you see in a recent Harris Poll of registered voters in the commonwealth: Strong support for developing domestic oil and natural gas, including offshore reserves, as well as increased spending on infrastructure.
Some of the numbers:
- 80 percent support increased production of domestic oil and natural gas reserves. Just 11 percent oppose.
- 89 percent support increased development of U.S. energy infrastructure.
- 94 percent agree increased domestic oil and natural gas output could help strengthen America’s energy security.
- 91 percent agree increased domestic oil and natural gas production could help stimulate the economy.
And so it goes – with similar, slam-dunk margins on other questions, from benefits to U.S. consumers to economic growth.
Posted December 5, 2013
America’s vast offshore energy reserves present an opportunity to improve our economy, increase our energy security and create tens of thousands of jobs. According to a new study, opening the U.S. Atlantic Outer Continental Shelf (OCS) to offshore oil and natural gas development could turn that opportunity into reality. API’s Director of Upstream Erik Milito and the National Ocean Industries Association’s Randall Luthi outlined the study for reporters today. Milito:
“Oil and natural gas production off our Atlantic coast is a potential gold mine. Developing oil and natural gas in the Atlantic could put hundreds of thousands of Americans to work, make us more energy secure, and bring in needed revenue for the government. But none of these benefits will appear unless the federal government follows pro-development energy policies.”
According to the study, oil and natural gas development in the Atlantic OCS between 2017 and 2035 could:
- Create nearly 280,000 new jobs along the East Coast and across the country.
- Result in an additional $195 billion in new private investment.
- Contribute up to $23.5 billion per year to the U.S. economy.
- Add 1.3 million barrels of oil equivalent per day to domestic energy production, which is about 70 percent of current output from the Gulf of Mexico.
- Generate $51 billion in new revenue for the government.
Posted November 26, 2013
API is partnering with the National Ocean Industries Association and the Independent Petroleum Association of America in an effort to warn of a provision in a water development bill (S.601) that could limit future offshore oil and natural gas activity.
In a letter to members of a House-Senate conference committee considering the legislation, the three groups cite a portion of the bill that would create a National Endowment for the Oceans – which the groups argue could result in “additional and unnecessary authority over ocean resources.” The groups write that regulations already exist to manage those resources.
Posted November 8, 2012
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Jane Van Ryan
Posted December 30, 2010
Jane Van Ryan
Posted December 20, 2010
Jane Van Ryan
Posted December 1, 2010