Energy Tomorrow Blog
Posted June 26, 2018
ExxonMobil Chairman and CEO Darren Woods and Chevron Chairman and CEO Michael Wirth used the big stage at the World Gas Conference to underscore what we’ve been saying for some time about the administration’s tariffs on imported steel: They work against the U.S. natural gas and oil renaissance.
Woods said the concept of free trade “underpins the competitiveness” of the natural gas and oil industry. Other administration initiatives – Woods mentioned tax reform and regulatory changes – have enhanced the competitiveness of U.S. industry versus global rivals. Tariffs on imported steel could hinder progress by the domestic industry.
Posted June 25, 2018
The notion that failing coal and nuclear plants need to be propped up by Washington continues to be advanced by some in the administration and, of course, members of the industries that would benefit from bailouts – usually by attacking natural gas and its infrastructure. In recent months we’ve rebutted their claims that the nation’s electricity grid is at risk and that natural gas has reliability issues as a fuel for power generation, especially during extremely cold weather. We’ve also pushed back on their assertion that there’s a heightened risk of cyber attack for natural gas infrastructure.
Next up: A flawed report about an impending wave of nuclear plant retirements, apparently to stoke anxiety and build support for the cause.
Posted June 22, 2018
Pipelines play a vital role in delivering the energy American families and businesses need every day. The nation's more than 212,000 miles of liquid pipelines and over 300,000 miles of natural gas pipelines are among the safest and most efficient means of moving petroleum products to consumers. And, because most are buried, they are largely unseen.
The natural gas and oil industry recognizes the integral nature of pipeline infrastructure and is committed to advancing pipeline safety to protect communities and the environment.
Posted June 21, 2018
Let’s make three quick points following release of a new methane emissions report from the Environmental Defense Fund: The paper's findings are consistent with falling emissions; technology, knowledge and industry collaboration are continuing the progress already made in cutting emissions; and a sound, accurate base of information is needed to help build an understanding of where and how more improvements in reducing emissions can be made in the future.
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 21, 2018
Last week, we wrote about the many benefits to opening up a small portion of the Arctic National Wildlife Refuge (ANWR) to natural gas and oil development – especially job creation, economic growth and long-term U.S. energy security. But there’s another benefit that warrants attention, and that’s the direct, measured improvements in the lives of Alaskans living in areas where energy development is occurring.
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 18, 2018
current membership of 40 companies.
Posted June 15, 2018
We’ve talked at length about the many benefits to opening up a small portion of the Arctic National Wildlife Refuge (ANWR) to natural gas and oil development. There can be little doubt about ANWR’s importance to the United States’ long-term energy security.
The point is underscored in a new report from the U.S. Energy Information Administration (EIA), analyzing the potential impact of natural gas and oil development in the coastal plain of ANWR. The results reiterate what we’ve been saying all along – ANWR’s energy potential is incredibly large, and is a key part of a long-term U.S. energy vision.
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.