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Energy Tomorrow Blog

Energizing Florida

analysis  florida  crude oil exports  economy and energy  gasoline prices  lng  income  pricewaterhousecoopers  revenue  trade  wood mackenzie 

Reid Porter

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.

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Energizing Washington

analysis  washington  crude oil exports  energy  income  gasoline prices  lng exports  pricewaterhousecoopers  revenue  trade  wood mackenzie 

Reid Porter

Reid Porter
Posted July 31, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Washington. Yesterday we looked at Alaska. 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 Washington, 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.

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U.S. Oil Exports – For Our Security and the World's

analysis  energy exports  crude oil  american petroleum institute  Jack Gerard 

Mark Green

Mark Green
Posted July 30, 2015

We’ve stressed the economic benefits of lifting the ban on U.S. crude oil exports – GDP growth, job creation and consumer savings – because they’re considerable and would affect virtually every American in a positive way. No less important are the benefits for American security and foreign policy from letting U.S. crude trade freely in the global marketplace. API President and CEO Jack Gerard:

“Experts across the academic and political spectrum agree that American exports would spur greater U.S. oil production, put more oil on the world market, and reduce the power that foreign suppliers have over our allies. Our ability to strengthen the global energy market against future disruptions will shape events around the globe, adding a key tool to America’s diplomatic arsenal.”

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The Iran Irony

analysis  energy exports  crude oil  economic growth  gasoline costs  american petroleum institute  Jack Gerard 

Mark Green

Mark Green
Posted July 29, 2015

The current crude oil export debate basically is about global competition – and whether the United States will stop sanctioning itself and let an American commodity trade freely on the global market.

An irony – we’ll call it the “Iran Irony” – underscores the anti-competitive nature of our outdated ban on oil exports and the strategic shortsightedness of maintaining it.

The “Iran Irony” is this: While the U.S. advances a nuclear deal that would let Iran reemerge as a major oil supplier on the global market – to Iran’s economic and competitive gain – the United States denies itself similar benefits by banning its own crude exports. This is hurting America’s global competitiveness, diminishing the potential positive impacts of America’s rise as an energy superpower.

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Energizing Minnesota

analysis  minnesota  crude oil exports  energy supplies  gasoline prices  lng exports  pricewaterhousecoopers  revenue  wood mackenzie 

Reid Porter

Reid Porter
Posted July 29, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Minnesota. We started this week with North Dakota and Illinois. 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 Minnesota, 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.

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Energizing Illinois

analysis  illinois  income  energy  crude oil  exports  pricewaterhousecoopers  revenue  wood mackenzie 

Reid Porter

Reid Porter
Posted July 28, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Illinois. We started the week with a look at North Dakota. 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 Illinois, 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.

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Energizing North Dakota

analysis  north dakota  crude oil exports  lng  oil and natural gas development  pricewaterhousecoopers  regulation  wood mackenzie 

Reid Porter

Reid Porter
Posted July 27, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with North Dakota. 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 North Dakota, 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.

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Energizing Oregon

analysis  oregon  crude oil exports  income  lng  oil and natural gas development  pricewaterhousecoopers  regulation  wood mackenzie 

Reid Porter

Reid Porter
Posted July 24, 2015

Our series highlighting the economic and jobs impact of energy in each of the 50 states continues today with Oregon. This week started with Maine and the series began 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 Oregon, 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.

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Action Item: U.S. Oil Exports

analysis  crude oil  energy exports  global markets  domestic production 

Mark Green

Mark Green
Posted July 14, 2015

A potential nuclear deal with Iran that would permit the Iranians to resume exporting crude oil to global markets – short-term and long-term – underscores questions about our own oil export policies. Here are two: What are the implications of Iranian crude oil exports for U.S. production? And: When will our government lift de facto sanctions against the export of U.S. oil?

Bloomberg reports that Iran’s oil minister says the country can increase exports by 500,000 barrels a day as soon as economic sanctions are lifted, then an additional 500,000 barrels a day in the following six months. Richard Nephew of Columbia University’s Center on Global Energy Policy is less optimistic about that kind of ramp-up. The U.S. Energy Information Administration (EIA) has said Iran could reach 700,000 barrels per day by the end of 2016.

The point is, if there’s a nuclear deal that lifts economic sanctions against Iran, Iranian oil will be getting to market.

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U.S. Oil Exports: ‘The World Will Be a Safer Place’

analysis  energy exports  crude oil  production  economic benefits  american petroleum institute 

Mark Green

Mark Green
Posted July 10, 2015

The compelling case for lifting America’s decades-old ban on exporting domestic crude oil is multi-faceted.

There's the economic case, with NERA Economic Consulting estimated that lifting the ban could add $200 billion to $1.8 trillion to the U.S. economy between now and 2039. There's the case for consumers, with a variety of studies indicating that lifting the ban could lower prices at the fuel pump from 1.7 cents per gallon to up to 12 cents per gallon. There's the foreign policy case and the way home-grown crude oil could affect global relationships, helping allies and potentially neutralizing the ability of adversaries to use energy as a diplomatic weapon. Then there's the energy case. Domestic production, spurred by greater access to global crude markets, could grow by 2.1 million barrels per day to 4.3 million barrels per day over levels under the status quo, according to NERA.  

Certainly, each of these was argued again at a pair of Capitol Hill hearings, one by the House Agriculture Committee (video) and another by the Energy and Commerce Committee’s Energy and Power Subcommittee  (video).

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