Energy Tomorrow Blog
Posted April 25, 2014
A couple of the main points in API President and CEO Jack Gerard’s speech to the STEM Solutions National Leadership Conference in Washington this week:
- America’s oil and natural gas industry offers the careers to attract motivated science, technology, engineering and math graduates – and it needs them.
- Industry’s dynamic job-creating ability must be sustained through strategies and policies that allow it to continue to be a global energy leader.
Kudos to U.S. News & World Report for hosting the conference that attracted so many bright young people – including one of the youngest people to visit the North and South Pole and a teen-ager who developed an early detection test for pancreatic cancer. Gerard used the opportunity to underscore the oil and natural gas industry’s need for science and technology workers.
Posted April 21, 2014
Posted April 7, 2014
Take a good look at the chart below – brand-new from the U.S. Energy Information Administration (EIA). The green line disappearing into the horizontal axis between the years 2030 and 2040 is what U.S. energy self-sufficiency looks like.
This is a big, big deal – a goal of every U.S. president since Richard Nixon more than 40 years ago: the point where domestic production exceeds imports, which EIA never included in any of its projections. Until now.
Because of surging tight-oil production – oil from shale and other tight-rock formations, developed with advanced hydraulic fracturing and horizontal drilling – the agency is including in its 2014 Annual Energy Outlook a high-production scenario under which net imports would reach near-zero between 2030 and 2040.
Posted April 3, 2014
A competitive marketplace is the sowing field for innovation and investment. Look no further than the advanced hydraulic fracturing and horizontal drilling that launched America’s ongoing shale energy revolution. Shale development features cutting-edge technology to increase output and efficiency and to make operations as safe and clean as possible. An example of this can be found in methane emissions.
While some call for government-directed efforts to reduce emissions, industry already is on this – through its own leadership and investments – and is achieving good results.
Posted March 17, 2014
Happy birthday, fracking! What a fantastic, 65-year ride it has been – and here’s to another 65 years and more.
Advanced hydraulic fracturing and horizontal drilling launched an oil and natural gas renaissance in this country – bringing dynamic job creation, economic stimulus that radiates well beyond the oil and natural gas industry proper and greater energy security. Thanks to fracking, the United States is an energy superpower that, with the right policies, can harness its vast resources to ensure a significantly better future for its citizens while reducing energy-related tension across the globe.
Posted February 27, 2014
The federal government has released its environmental review on the potential impacts of seismic surveying on the Atlantic outer continental shelf (OCS) – testing that’s key to future oil and natural gas development off the U.S. coast, from Delaware to central Florida. That development could significantly add to domestic energy production, create jobs and stimulate economic growth and strengthen America’s energy security.
By permitting seismic surveying in the Atlantic and including Atlantic lease sales in the federal government’s next five-year leasing plan, we could see major benefits, according to a study by Quest Offshore Resources.
Posted February 10, 2014
How the U.S. Energy Boom is Changing America’s Place in the World
Time: It wasn’t even five years ago that Iran reelected hardliner Mahmoud Ahmadinejad in a disputed presidential election, openly admitted it was building a uranium enrichment facility and brazenly test-fired missiles capable of hitting targets in Israel. Fast-forward to today: A more conciliatory president, Hassan Rouhani, is making historic overtures toward the West and negotiations are showing rare progress toward containing the country’s nuclear program, which has kept the region—and the world—on edge for years.
The difference, according to former Obama administration National Security Advisor Tom Donilon, can be summed up in one word: “fracking.” That’s hydraulic fracturing, the drilling method that’s helped fuel an unprecedented domestic energy boom in the United States.
“There’s a direct line between the U.S.-led sanctions effort to put pressure on Iran” and the flood of oil and gas coming out of the ground at home due to fracking technology, Donilon said Thursday night at an event announcing a new report from the Center for a New American Security, titled “Energy Rush: Shale Production and U.S. National Security.”
Before the North American energy boom—the largest-ever annual increase in domestic oil production took place in 2012—a harsh sanctions regime against Iran looked more like a suicide pact for the oil-import-dependent U.S. Instead, America’s sudden energy abundance dampened the blow of reduced oil exports to the global economy, making truly harsh sanctions on Iran possible.
Read more: http://ti.me/1eKvYKd
Posted January 6, 2014
Fracking 101: Breaking Down the most Important Part of Today’s Oil, Gas Drilling
Greeley Tribune: Fracking, the two- to three-day process of hydraulic fracturing for oil and gas, is perhaps one of the most misunderstood drilling practices, becoming as bad of a word in some circles as a racial slur.
Entire countries have banned the process. Some Colorado towns have placed moratoriums to study it further.
Environmentalists storm capitals over it, demanding increased regulations, and oil and gas company employees and officials scratch their heads — they’ve been using the same process in oil and gas drilling for 60 years without widespread incidents.
“It’s a perplexing issue,” said Collin Richardson, vice president of operations for Mineral Resources Inc., who opened up a company fracking job last fall to a student tour from the University of Northern Colorado. “People go to a light switch and expect energy to be there, but they don’t think about where it comes from. I don’t think most people understand that without hydraulic fracturing, we wouldn’t have natural gas to provide electricity to our homes or gas in our cars.
Read more: http://bit.ly/1gc41Z7
Posted November 7, 2013
U.S. Energy Information Administration (EIA) chief Adam Sieminski recently gave a presentation at Columbia University on the agency’s new drilling productivity report, and the takeaways are significant: The U.S. is in the midst of a remarkable surge in oil and natural gas production from shale and other tight resources. Higher drilling efficiency and new well productivity are the main drivers of production growth. EIA is confident the United States has ample reserves to sustain production growth for the foreseeable future. Sieminski said U.S. shale reserves, unlocked by hydraulic fracturing and horizontal drilling, are the reason for skyrocketing oil and natural gas production – since 2007 for natural gas, 2009 for oil.
Posted November 4, 2013
The Outsiders Who Saw Our Economic Future
Wall Street Journal: The experts keep getting it wrong. And the oddballs keep getting it right.
Over the past five years of business history, two events have shocked and transformed the nation. In 2007 and 2008, the housing market crumbled and the financial system collapsed, causing trillions of dollars of losses. Around the same time, a few little-known wildcatters began pumping meaningful amounts of oil and gas from U.S. shale formations. A country that once was running out of energy now is on track to become the world's leading producer.
What's most surprising about both events is how few experts saw them coming—and that a group of unlikely outsiders somehow did. Federal Reserve chairmen Alan Greenspan and Ben Bernanke failed to foresee the financial meltdown. Top banking executives were stunned, and leading investors such as Bill Gross, Jim Chanos and George Soros didn't fully anticipate the downturn.
Read more: http://on.wsj.com/172n4PZ