Energy Tomorrow Blog
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.
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.
A Step Forward on Oil Exports
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Mark Green
Posted August 17, 2015
Late last week the Obama administration gave the go-ahead for limited domestic crude oil exports to Mexico, a positive move on oil exports – yet one that immediately underscores this question: Why stop there?
According to the Associated Press, license applications approved by the Commerce Department allow the exchange of similar amounts of U.S. and Mexican crude, a swap. The U.S. would send an as-yet unspecified amount of light crude to Mexico in exchange for heavier Mexican crude. AP:
While the Commerce Department simultaneously rejected other applications for crude exports that violated the ban, the move to allow trading with Mexico marked a significant shift and an additional sign that the Obama administration may be open to loosening the export ban. Exchanges of oil are one of a handful of exemptions permitted under the export ban put in place by Congress.
Two things: First, the arrangement with Mexico, while limited in scope, nonetheless is the administration affirming the inherent benefits of trade. The light crude in the deal represents some of the domestic oil that’s accumulating and trading at a discount to global prices, unable to reach the world market because it’s shut in by an outdated, anti-competitive oil exports ban. Second, the U.S. needs to go further.
Energy Exports: Putting U.S. in the Driver’s Seat on Trade
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Mark Green
Posted August 11, 2015
The U.S. Commerce Department’s recent mid-year trade report illustrates how surging domestic oil and natural gas production is helping our economy – and strongly suggests what increased domestic output could do if U.S. crude oil and liquefied natural gas (LNG) had unhindered access to global markets.
According to Commerce, the U.S. trade deficit among petroleum and petroleum products fell 56.1 percent the first six months of this year compared to the first six months of 2014 (exhibit 9). That growth helped hold the total U.S. year-over-year trade balance steady, even as the trade deficit in non-petroleum products increased 23.1 percent. API Chief Economist John Felmy:
“Despite a very competitive global market, the U.S. energy revolution continues to push our trade balance in a positive direction. Oil imports remain on the decline, and strong exports of petroleum and refined products are creating new opportunities for America to bring wealth and jobs back to U.S. shores.”
For that trend to continue, though, the United States must pursue energy trading opportunities with the same vigor it pursues trade in other areas. A 1970s-era ban on crude oil exports should be lifted, and LNG export projects should be approved by the government so that domestic producers have every chance to access global markets.
Energizing Montana
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Reid Porter
Posted August 10, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Montana. We started our focus on the state level with Virginia on June 29. 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 Montana, 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 Maryland
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Reid Porter
Posted August 5, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Maryland. We started this week with Florida and Kansas; the series began on June 29 with Virginia. 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 Maryland, 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 Florida
analysis florida crude oil exports economy and energy gasoline prices lng income pricewaterhousecoopers revenue trade wood mackenzie
Reid Porter
Posted August 3, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Florida. We started our focus on the state level with Virginia on June 29. 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 Florida, 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.