Energy Tomorrow Blog
American Energy, Markets and Prices
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Mark Green
Posted September 4, 2015
The U.S. Energy Information Administration (EIA) reports that the average retail price for regular gasoline on Aug. 31 was $2.51 per gallon – the lowest price for the Monday before Labor Day since 2004 and 95 cents lower than the Monday before Labor Day last year. EIA explains:
Declines in crude oil prices are the main driver behind falling U.S. gasoline prices. Lower crude oil prices reflect concerns about economic growth in emerging markets, expectations of higher oil exports from Iran, and continuing actual and expected growth in global crude oil inventories.
Certainly, the global markets for a variety of commodities may be influenced by concerns, feelings and inklings of one kind or another. Let’s focus on the tangible reason EIA cites for lower global crude prices – hence, lower prices at U.S. pumps: growth in global crude oil inventories. That refers to production and supply to the market. The story behind that story is that over the past six or seven years, the United States has led the world’s top suppliers of petroleum and other liquids in production and rate of production growth.
Energizing Pennsylvania
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Reid Porter
Posted September 4, 2015
As we can see with Pennsylvania, 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.
EIA and Crude Oil Exports
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Mark Green
Posted September 1, 2015
Some quick points from the new crude oil exports study from the U.S. Energy Information Administration (EIA):
First, like a series of other studies before it, EIA’s study finds that lifting America’s 1970s-era ban on exporting domestic crude oil would not negatively affect U.S. consumers. EIA says:
Petroleum product prices in the United States, including gasoline prices, would be either unchanged or slightly reduced by the removal of current restrictions on crude oil exports.
EIA projects that ending the export ban – which would allow shut-in domestic crude to access global crude oil markets – would spur more domestic production. Then the global supply/demand would become “looser,” putting downward pressure on global crude prices, resulting in “lower petroleum product prices for U.S. consumers.
Crude Swap and Economic, Environmental Benefits
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Mark Green
Posted August 31, 2015
More about last week’s Commerce Department decision to allow U.S. crude oil swaps with Mexico – basically, a positive step in the direction of lifting America’s 1970s-era ban on exporting domestic crude.
An analysis by the U.S. Energy Information Administration (EIA) says the exchange of light U.S. oil for heavier Mexican oil will generate economic and environmental benefits. The economic piece certainly is consistent with a number of studies that say lifting the ban and exporting domestic crude will generate broad benefits for our economy and savings at the pump for U.S. consumers, while spurring domestic production.
Energizing Wyoming
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Reid Porter
Posted August 28, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Wyoming. We started the series with Virginia and Colorado earlier this summer and reviewed Kentucky, Tennessee , Utah and Georgia to begin this week. 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 Wyoming, 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.
History, Crude Oil Exports and Seizing the Moment
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Mark Green
Posted August 27, 2015
For as long as most younger Americans can recall, the United States has been barred from exporting crude oil – a self-inflicted sanction that’s at odds with our historical role as a global leader in both free trade and oil production. For them, that’s the way it has always been – the U.S. unilaterally excluding itself from the world’s most important energy marketplace.
Yet, history, economics and security imperatives all argue that it shouldn’t stay that way. Rather, U.S. oil exports policy should be restored to its former posture, to realign policy with this reality: America’s shale energy revolution, the most recent in a series of world-changing energy events, affords the U.S. a great opportunity, and that the U.S. should pursue every means possible to harness that revolution’s benefits – including resuming the export of domestic crude.
To start, policymakers must acknowledge a couple of things: First, that maintaining the oil export ban that was imposed after the 1973 embargo is hurting U.S. competitiveness in the global economy and limiting the benefits that could and should accrue to an energy superpower.
Energizing Utah
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Reid Porter
Posted August 26, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Utah. We started the series with Virginia and Colorado earlier this summer and reviewed Kentucky and Tennessee to begin this week. 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 Utah, 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.
Government Barriers to a Secure Energy Future
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Mark Green
Posted August 24, 2015
Two items from the weekend help sharpen the focus a strategic choice before Americans as they look to the future: Which energy path will we take?
One path leads to increased domestic energy development. It’s typified by safe and responsible oil and natural gas production that harnesses America’s energy wealth to create jobs, grow the economy and make the U.S. more secure in the world.
Another path likely would lead to very little of the above. It’s characterized by unnecessary regulation and self-limiting policies that hinder or block domestic development. America would be less secure, economically and in the world, and our allies, too.
The two paths, two very different futures – for American energy and America.
Energizing New Hampshire
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Reid Porter
Posted August 21, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with New Hampshire. We started the series with Virginia on June 29 and reviewed Hawaii, Idaho , Vermont and Oklahoma to begin this week. 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 New Hampshire, 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.
Energizing Vermont
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Reid Porter
Posted August 19, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Vermont. We started the series with Virginia on June 29 and reviewed Hawaii and Idaho to begin this week. 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 Vermont, 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.