Energy Tomorrow Blog
Posted April 2, 2014
The U.S. Energy Information Administration (EIA) reports that total net U.S. energy imports declined last year to their lowest level in more than 20 years – reflecting two energy positives for America: growth in domestic oil and natural gas production and increased exports of finished petroleum products. EIA:
Total U.S. net imports of energy, measured in terms of energy content, declined in 2013 to their lowest level in more than two decades. Growth in the production of oil and natural gas displaced imports and supported increased petroleum product exports, driving most of the decline. A large drop in energy imports together with a smaller increase in energy exports led to a 19% decrease in net energy imports from 2012 to 2013.Total energy imports declined faster—down 9% from 2012 to 2013—than in the previous year, while export growth slowed. Crude oil production grew 15%, about the same pace as in 2012, which led imports of crude oil to decrease by 12%, accounting for much of the overall decline in imports.
Posted December 27, 2013
The long-delayed Keystone XL pipeline and whether President Obama will agree with a strong majority of Americans who believe that the full project is in the U.S. national interest landed on a couple of year-ending lists of top energy issues, here andhere, no doubt reflecting the politics surrounding the pipeline’s five-year federal review.
Much of politicizing has been fueled by opponents who say stopping Keystone XL will stop oil sands development. The U.S. State Department disagreed in its most recent review, citing key economic factors that argue oil sands will get to market with or without the Keystone XL. The dynamic already is at work.
Last week, Canada’s National Energy Board recommended approval of the Northern Gateway pipeline to bring as much as 525,000 barrels a day of oil sands from Alberta to British Columbia. At the same time others are making plans to build loading terminals to service oil sands-bearing railroad cars. Demand for supply is driving the infrastructure needed to deliver that supply.
The question for the U.S. concerns the impact of Washington’s never-ending deliberation over the Keystone XL, even as other infrastructure for delivering oil sands moves toward reality.
Posted November 13, 2013
Bloomberg: U.S. crude oil production exceeded imports in October for the first month since February 1995, the U.S. Energy Information Administration said.
Output averaged 7.74 million barrels a day, the Energy Department’s statistical unit said in its monthly Short-Term Energy Outlook. Crude oil net imports were 7.57 million, down from 7.92 million the previous month.
Horizontal drilling and hydraulic fracturing, or fracking, have unlocked supplies in shale formations in North Dakota, Texas and other states. West Texas Intermediate, the U.S. crude benchmark, has dropped to below $95 from above $110 in September as domestic output reached a 24-year high.