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Energy Tomorrow Blog

Energy Today – April 30, 2013

keystone xl pipeline  fracking  gasoline taxes  environmental impact 

Mary Leshper

Mary Schaper
Posted April 30, 2013

BloombergApprove Keystone Now

Bloomberg’s editorial board argues that rather than encouraging more study on the Keystone XL pipeline, President Obama should “now prod the State Department to move as fast as possible” to approve the project.

AEI Carpe Diem BlogTexas Oil Output Continues

Mark J. Perry writes, “The exponential increase in Texas oil production over the last several years is nothing short of phenomenal, and is a direct result of … game-changing drilling technologies in America that have now revolutionized the nation’s production of shale oil.”

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Energy Earnings, Taxes and the Right Path for America

earnings  taxes 

Mark Green

Mark Green
Posted April 26, 2013

An interesting discussion this week at a Politico Pro event hosted by API on the impacts of tax policy on the U.S. energy sector – timely, because if past is prologue oil and natural gas earnings reports this week and next likely will be accompanied by new calls for higher industry taxes. Let’s take a look at each issue.

First, earnings. Reported first-quarter earnings for America’s largest oil and natural gas companies reflect big companies with correspondingly big operations and investments. Yet, looking at earnings per dollar of sales helps contextualize the numbers. While not all oil and natural gas companies had reported their first-quarter earnings as of week’s end, here’s how that measure looked in the last quarter of 2012:

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Energy Today – April 25, 2013

exports  fracking  lng  natural gas  taxes 

Mary Leshper

Mary Schaper
Posted April 25, 2013

Fuel Fix BlogReport: Petrochemical Plants See Big Benefits from Low-Cost Natural Gas

Low-cost shale natural gas has made North America – specifically the United States – a more competitive region for petrochemical producers. The sector has plans to add $120 billion in investments through 2030, according to an IHS analysis. 

AEI Ideas Carpe Diem BlogSpectacular Rise in America’s Oil Output

The U.S. last week reached a 21-year  high for domestic oil production, more than 7.3 million barrels of oil per day, something that is “nothing short of phenomenal,” writes blogger Mark J. Perry. The last time U.S. output exceeded the 7.3 million bpd mark was in 1992.

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Energy Today – April 16, 2013

epa  ethanol  greenhouse gases  hydraulic fracturing  keystone xl  taxes impact on business  energy taxes 

Mary Leshper

Mary Schaper
Posted April 16, 2013

LA TimesEPA: U.S. Greenhouse Gases Drop 

The newspaper highlights the latest good news from the EPA: Increased use of natural gas, much of it developed with  hydraulic fracturing, has helped the United States lower its greenhouse gas emissions 1.6 percent from 2010 to 2011 and nearly 7 percent since 2005.

Roll CallRedford: Keystone XL an Environmentally Sound Way to Enhance Energy Security

Alberta  Premier Alison Redford’s  op-ed argues that Canada is “the safest, most secure and responsible energy supplier to the United States and a reliable trading partner.” This comes after her recent visit to the U.S. advocating  approval of the Keystone XL pipeline project.  Approving the pipeline “is the choice of reason,” she writes.

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Energy Today – April 15, 2013

hydraulic fracturing  fracking  keystone xl pipeline  natural gas  revenue  taxes 

Mary Leshper

Mary Schaper
Posted April 15, 2013

The Hill Energy Taxes Are No Budget Solution

Steve Forbes writes on The Hill’s Congress Blog that higher taxes on the oil and natural gas industry would cost jobs, lower energy production and actually reduce revenue to government over time. He cites a study showing that “a new tax on the industry would sacrifice 170,000 direct and indirect energy jobs by 2014.”

Houston ChronicleIt’s Wrong to Penalize the Oil and Natural Gas Industry

“Singling out our oil and natural gas industry for taxation penalizes producers,” writes the newspaper. “Bad guys? You mean the folks who employ our neighbors in good-paying jobs, contribute mightily to our tax base, civic life and sports and cultural/arts scenes? We don't think so.”

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Pounding the Facts on Energy and Taxes

cost recovery  energy  growth  taxes 

Mark Green

Mark Green
Posted April 12, 2013

There is an old legal saying: “If you have the law, hammer the law. If you have the facts, hammer the facts. If you have neither the law nor the facts, hammer the table.” This came to mind the other day while reading the Center for American Progress’ (CAP) response to the latest White House proposal to raise taxes on oil and natural gas companies.

**Spoiler Alert **

They like the idea – but CAP's post is a lot of table hammering, and the table is the oil and natural gas industry.  Let’s de- demagogue this with a look at the facts.

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The President’s $90 Billion ‘Anti-Stimulus’ Energy Tax Hikes

access  fairness  energy taxes  lifo  section 199 

Stephen Comstock

Stephen Comstock
Posted April 11, 2013

Let’s dig into the details of the more than $90 billion (over 10 years) in new and targeted tax increases on America’s oil and natural gas companies that President Obama included in his FY2014 budget. Note: The tax provisions below are in no way “taxpayer subsidies” and are not unique to our industry. They constitute standard business deductions (some available to all other industries) and mechanisms of cost recovery – a fundamental and necessary component to a national income tax system. Here we go:

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Energy Today – April 11, 2013

budget  exports  new york  hydraulic fracturing  natural gas  taxes  oil  Energy 101 

Mary Leshper

Mary Schaper
Posted April 11, 2013

New York Post Gov. Cuomo’s Ugly Message to  Businesses

Gov. Andrew Cuomo likes to declare that New York is “open for business,” but his prolonged refusal to OK hydraulic fracturing sends the opposite message,  John Krohn writes in a guest op-ed.

Rockland County TimesExports Grow Our Economy, Lift Ban on Natural Gas

In an op-ed, Margo Thorning writes that “the United States should capitalize on the comparative advantage it has over other countries with natural gas. In fact, respected economic consulting firm NERA recently analyzed LNG exports for the Energy Department and found that across every market scenario, increased exports would benefit the U.S. economy.”

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New Ad: Don’t Stop What’s Working

taxes 

Mark Green

Mark Green
Posted April 8, 2013

America’s oil and natural gas industry supports 9.2 million jobs and 7.7 percent of the U.S. economy. Since 2000, it has invested more than $2 trillion in U.S. capital projects, stimulating our economy – a repeatable, sustainable stimulus that doesn’t depend on an act of Congress.

In that context, check out our new television ad that focuses on energy job creation, economic growth and the way tax increases on the oil and natural gas industry could hinder both:

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Energy Today – April 4, 2013

hydraulic fracturing  manufacturing  natural gas  regulations  taxes  oil 

Mary Leshper

Mary Schaper
Posted April 4, 2013

Forbes The Top Five Facts Everyone Should Know About Oil and Natural Gas Exploration

Ryan Carlyle, a subsea hydraulics engineer, writes that oil accounts for one-third of humanity’s energy supply, is unrivaled in power generation and is fundamental to lifting billions of people out of poverty. Fun fact: If solar power generation doubled every decade for 100 years, it would still be pretty far behind oil today.

Wall Street JournalBeware Tax Reform That Raises Taxes on Capital

Of the ongoing congressional debate over tax reform, Margo Thorning writes  that “Investment, growth and job creation should be the cornerstones of any tax-reform effort.”

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