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Energy Tomorrow Blog

Voters Nationwide Support Pro-Energy Policies

state of american energy  poll  energy policy  economic security  ethanol  jobs  Offshore Production  infrastructure  crude oil exports  spill 

Jack Gerard

Jack Gerard
Posted January 7, 2016

At this year’s State of American Energy event, we highlighted the impact of energy policy on the lives and livelihoods of families and businesses in every state. The connection between policy and pocketbooks is evident after a year in which Americans saved an average $550 per driver on gasoline, due largely to strong U.S. oil and natural gas production. But to maintain the economic and security benefits of America’s 21st century energy renaissance, we’ll need to make smart policy choices that increase access to energy resources, encourage infrastructure development, rein in misguided ethanol policy and curb costly, duplicative regulations.

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Shared Vision – Opportunity Provided By American Energy

state of american energy  oil and natural gas production  economic growth  jobs  us energy security  crude oil exports 

Mark Green

Mark Green
Posted January 5, 2016

There are many ways to gauge the current strength of American energy. The U.S. is producing nearly twice as much oil as it did less than a decade ago, which, combined with natural gas output, has made America the world’s leading producer.

Yet, the real-world impact of America’s energy revolution offers a more meaningful picture. New tensions are roiling the Middle East, yet global crude markets have remained relatively calm – unimaginable a few years ago. Meanwhile, a tanker carrying U.S. crude oil left port headed for Europe – the first since the lifting of America’s 40-year-old ban on domestic exports. There’s the reach of our energy revolution.

In his State of American Energy remarks, API President and CEO Jack Gerard focused on the growth of U.S. energy and its benefits – and also the opportunity to sustain them with sound energy policies based on facts and science.

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Exports: A New Day for U.S. Energy

crude oil exports  lng exports  economic growth  oil and natural gas production  us energy security  trade 

Mark Green

Mark Green
Posted January 4, 2016

As we write, the United States is once again an exporter of crude oil. Sure, in the past the federal government has allowed limited crude exports. The oil tanker that left the Port of Corpus Christi, Texas, late last week is the bearer of the first freely traded U.S. crude in about four decades – made possible by congressional legislation that President Obama signed to end a 1970s-era ban on exports. It’s a new day indeed.

But wait, there’s more. Cheniere Energy  says it has begun liquefying natural gas at its new export terminal in Louisiana, setting the stage for its first LNG export cargo this month.

Both are big-time energy developments for the United States – opportunities created by a domestic energy revolution largely driven by safely harnessing vast shale reserves with advanced hydraulic fracturing and horizontal drilling. 

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Lifting Oil Export Ban a Win for Economy, Security

crude oil exports  economic growth  oil production  jobs  us energy security 

Jack Gerard

Jack Gerard
Posted December 22, 2015

Almost exactly 40 years after it was instated, the ban on crude exports has been lifted. A relic of ‘70s-era energy scarcity, the ban makes no sense now that the United States leads the world in oil and natural gas production. Numerous studies have found that lifting the ban will help put downward pressure on gas prices, create jobs, grow our economy and lower our trade deficit.

Lifting the ban is also a security win for the U.S. and our allies. With the administration’s push to allow Iran to export its oil to the global market, it’s time for U.S. producers to have the same opportunity. Our allies around the world are eager to reduce their reliance on energy from less friendly nations.

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Time to Get Policy Right on Oil Exports

crude oil exports  congress  economic growth  oil production  white house 

Mark Green

Mark Green
Posted December 15, 2015

That Congress soon may act to end the United States’ 40-year-old ban on domestic crude oil exports is signaled in the number of reports and posts on exports-related themes.

The Wall Street Journal has a report that talk of lifting the export ban is narrowing the difference between U.S. and global crude prices. The Council on Foreign Relations’ Michael Levi has this post discussing the impact of an exports deal on markets, the recent climate deal and geopolitics. National Journal reports on the legislative horse-trading some think could be part of lifting the exports ban. And there’s more.

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U.S. Oil Exports and the Global Market

crude oil exports  crude markets  oil production  economic growth  us energy security 

Mark Green

Mark Green
Posted December 9, 2015

The U.S. shale energy revolution is a game-changer – for the United States and the world’s energy balance. The U.S. has become the No. 1 producer of oil and natural gas, resulting from a domestic energy renaissance driven by advanced hydraulic fracturing and horizontal drilling – fracking. And the positive impacts are all around us.

U.S. crude imports are down, and American energy self-sufficiency is up. An America that’s more energy self-sufficient is more secure. Meanwhile, the global crude market is better supplied and more stable – thanks to the availability of crude that would have been imported to the U.S. Domestic pump prices reflect this well-supplied market. At the same time, greater use of natural gas has increased each American household’s disposable income by $1,200, and IHS says the benefit will grow to more than $3,500 in 2025. Thanks, fracking.

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State Benefits From Lifting Oil Export Ban

crude oil exports  economic growth  gdp  jobs 

Mark Green

Mark Green
Posted December 8, 2015

The economy-wide arguments in favor of lifting America’s 40-year-old ban on crude oil exports are detailed in a number of recent studies. Some of ICF International’s numbers: up to 300,000 additional jobs in 2020 when crude exports are allowed; up to a $38 billion increase in U.S. GDP in 2020; $5.8 billion in estimated reduced consumer fuel costs per year, on average, 2015-2035; $15 billion to $70 billion of additional investments in U.S. exploration, development and production, 2015-2020; and a $13.5 billion increase in federal, state and local tax receipts attributable to GDP increases from expanding crude oil exports in 2020.

The economic boost is state and local as well. A study of the state-by-state impacts of lifting the crude oil export ban by ICF and EnSys Energy shows the economies in nearly every state would receive a boost in 2020, with nine state’s economies increasing by more than $1 billion. In addition, 18 states would gain more than 5,000 jobs each in 2020, according to the study.

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The Oil Exports Conversation

crude oil exports  domestic oil production  security  economic growth  jobs 

Mark Green

Mark Green
Posted December 7, 2015

t’s good that Congress appears to be talking seriously about ending the United States’ four-decades-old ban on crude oil exports. Reports say Democrats and Republicans are discussing a deal that would include lifting the export ban – though it’s unclear what a specific deal would look like. “We need to have a conversation” about oil exports, Senate Minority Whip Dick Durbin told Politico. “We need to have a fair negotiation.”

Of course, we’ve been having a conversation about the merits of lifting the exports ban for some time. And it starts with this: Every major study on the issue has found that exporting U.S. crude oil would be good for America and Americans. The benefits range from those to consumers, to the economy, to American security to domestic energy production. According to the research, ending the outdated ban would positively impact all of the above.

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A High-Energy Thanksgiving

affordable energy  american energy security  co2 emissions  consumer products  oil and natural gas production  economic benefits  gasoline prices  energy exports 

Mark Green

Mark Green
Posted November 25, 2015

Thanksgiving is about taking a moment to give thanks for our good fortune. A festival of gratitude with food, family and friends – maybe with a little football thrown in.  So here's a list of some of the things that we’re thankful for this holiday season, from A to Z.

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U.S. Energy Exports and Market Engagement

crude oil exports  energy markets  domestic energy production  economic growth  jobs  trade  lng exports 

Mark Green

Mark Green
Posted November 18, 2015

Interesting analysis on energy independence in the Wall Street Journal by Columbia University’s Jason Bordoff, a former energy adviser to President Obama. It’s a good thing the United States isn’t energy independent, Bordoff writes. That’ll get your attention, right?

As Bordoff explains, “energy independence” is a dusty concept from the 1970s and 80s, after policymakers made it a goal to end U.S. reliance on global crude suppliers after the 1973 oil embargo.  It didn’t happen. To the contrary, U.S. imports steadily climbed in the 1990s and 2000s before the significant increases in domestic production, thanks to abundant American shale energy reserves and advanced hydraulic fracturing.

Now, with U.S. energy output surging, the inclination among some is to keep that energy here at home by maintaining the 1970s-era ban on crude oil exports, believing that it lessens others’ ability to disrupt our oil supplies. But Bordoff writes that an “isolationist” approach on energy misunderstands the reality that today’s global energy market is highly integrated and that the interconnectedness of the market has helped the U.S. compensate for supply disruptions here at home and overseas. “Free trade in a highly integrated global energy market made us more secure,” he writes.

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