Energy Tomorrow Blog
Posted March 9, 2016
Offshore oil production in the Gulf of Mexico is set to reach a record high next year, according to new projections from the U.S. Energy Information Administration (EIA). By the end of 2017, production is projected to reach 1.9 million barrels per day, accounting for 21 percent of total U.S. crude oil production.
That represents a crucial contribution to America’s energy security, economy and global energy leadership. Imagine if we doubled it. Opening areas in the Atlantic, Pacific and Eastern Gulf of Mexico could lead to production of more than 3.5 million barrels of oil equivalent per day – almost twice the amount EIA projects we’ll hit next year in the western Gulf alone.
Posted March 2, 2016
Last year, when federal officials released the proposal for the next five-year offshore drilling plan, we said the draft had some positive aspects but fell short of the kind of strategic offshore planning that would adequately serve America’s role as an energy superpower. We also noted strong support for offshore development by mid-Atlantic states, where operations could occur under the draft plan.
Fast-forward to this month, with the Bureau of Ocean Energy Management (BOEM) expected to reassess a plan that would be the blueprint for offshore energy development from 2017 through 2022. The need for a robust offshore leasing plan remains critically important – and the plan should retain the single Atlantic lease sale that was included in BOEM’s draft.
Posted February 4, 2016
With the president scheduled to put forward his last budget next week, here’s a short list of principles that should guide energy policy – because all will help sustain and grow the ongoing U.S. energy revolution. They include: reliance on industry innovation that has been the driving force behind America’s energy renaissance – innovation that launched the surge in shale energy production, prompting increased natural gas use and resulting in lower carbon emissions; embracing the successful, free-market approach to energy and economic growth while lowering emissions by basing decisions on sound science; and allowing more opportunities for energy exploration and development.
Erik Milito, API’s director of upstream and industry operations, talked about the policy pathway to energy growth and American prosperity during a conference call with reporters.
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.
Posted December 29, 2015
2015 ends on a high note for U.S. energy policy as Congress voted to repeal the obsolete, ‘70s-era ban on crude exports. Dozens of studies agree that lifting the restrictions will put downward pressure on gas prices, reduce the trade deficit, and provide a boost to economic growth and U.S. energy production.
Throughout the year, our status as the world’s leading producer of oil and natural gas continued to provide savings to American families and businesses while significantly enhancing our energy security. A review of the year’s energy developments shows how the American energy renaissance is paying off for consumers while also demonstrating that policymakers have some work to do in 2016.
Posted December 11, 2015
Then there’s this from Alaska: Falling oil revenues have the governor in that energy-rich state asking his legislature to plug a $3.5 billion hole in the state budget by imposing a small income tax (Alaska hasn’t had one for 35 years), other tax hikes, budget cuts and a reduction in the annual dividend Alaskans get from the state’s Permanent Fund.
Now, it might not bother you much that Alaskans soon could be paying higher taxes. But there’s another story playing out in Alaska and other places that should trouble all Americans: Access to U.S. energy is being restricted – by policy and regulation – in ways that could imperil America’s energy revolution and the generational opportunities that are being created by that revolution.
Posted December 2, 2015
A couple of important takeaways from this week’s Capitol Hill hearing on a proposed federal well control rule for offshore drilling:
First, offshore drilling is safer today than it has ever been – for the Gulf of Mexico, Alaska and Pacific regions. In coordination with federal regulators, industry has improved the safety of offshore development – in terms of safety systems management, prevention and response – while advancing the nation’s energy security through continued offshore oil and natural gas production.
This is seen in the approximately 275 API exploration and production standards that include offshore operations, more than 100 of which have been incorporated into federal regulation.
Posted September 14, 2015
Safe, responsible energy development in the Gulf of Mexico is vital to the U.S. economy and job growth, as well as U.S. energy and national security. Each of these points likely will come up during a U.S. House Natural Resources Committee hearing on the impact of federal policies on energy production and economic growth in the Gulf, Tuesday in New Orleans.
Posted August 20, 2015
Some observations on this week’s federal oil and natural gas lease sale in the Western Gulf of Mexico, reported with alarm by some media outlets because it wasn’t as large as other recent sales.
First, every lease sale is welcome. Access to U.S. offshore reserves represents opportunity for energy development, job creation, economic growth and greater American energy security. We need more offshore opportunities to support the strategic, long-term energy security of the United States – advanced by a robust offshore energy sector.
Posted August 17, 2015
Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Hawaii. We started the series with Virginia on June 29 and continued with Montana, Iowa, Alabama, Arizona and Nebraska last 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 Hawaii, 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.