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Energy Tomorrow Blog

The Benefits of Exporting U.S. Crude Oil

american energy  exports  trade  Economy  jobs 

Mary Leshper

Mary Schaper
Posted March 19, 2015

The 40 year-old oil export ban has been a hot topic in Congress the last few weeks. And as the Senate took up discussion today on the benefits of open trade on global prices, the geopolitical case for ending the ban were made clear.

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Oil Markets, Regulatory Wisdom and Policy Vision

regulation  ozone  opec  oil markets  liquefied natural gas  energy exports  offshore leasing 

Mark Green

Mark Green
Posted March 18, 2015

The Hill: Business groups are waging war on the Obama administration’s proposal to reduce ozone pollution, arguing the regulations would cripple the U.S. economy.

In order to comply with the proposed rule, many areas of the country would have to all but shut down land development and oil and natural gas drilling, industry groups charged on the final day for comments.

The Environmental Protection Agency (EPA) is being spurred on by greens and health groups, who argue that lower ozone emissions would benefit public health. The agency, they contend, is obligated to adopt the stricter standards.

But the rules would translate to higher electric bills for American families, the American Coalition for Clean Coal Electricity is said in comments it filed Tuesday.

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Exports, Policy and the Energy Revolution

energy exports  job creation  fracking  hydraulic fracturing  north carolina  infrastructure  ozone 

Mark Green

Mark Green
Posted March 17, 2015

Reuters: Lifting a 40-year-old U.S. ban on crude exports would create a wide range of jobs in the oil drilling supply chain and broader economy even in states that produce little or no oil, according to a report released on Tuesday.

Some 394,000 to 859,000 U.S. jobs could be created annually from 2016 to 2030 by lifting the ban, according to the IHS report, titled: "Unleashing the Supply Chain: Assessing the Economic Impact of a U.S. crude oil free trade policy."

Only 10 percent of the jobs would be created in actual oil production, while 30 percent would come from the supply chain, and 60 percent would come from the broader economy, the report said. The supply chain jobs would be created in industries that support drilling, such as oil field trucks, construction, information technology and rail.

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Making the Most of the U.S. Energy Revolution

energy policies  exxonmobil  trade  energy exports  fracking  taxes  tax revenue 

Mark Green

Mark Green
Posted March 13, 2015

UPI – U.S. policymakers are called on to adopt the energy policies necessary to take advantage of the new era of abundance, the chairman of Exxon Mobil said.

Some energy companies with a focus on exploration and production are advocating for a repeal of a ban on the export of some domestically-produced crude oil. The ban was enacted in the 1970s in response to an export embargo from Arab members of the Organization of Petroleum Exporting Countries.

Exxon Chief Executive Officer Rex Tillerson led the drive, telling an audience at The Economic Club in Washington D.C. current policies are out of step with the energy landscape in the shale era.

"It is time to build policies that reflect our newfound abundance, that view the future with optimism, that recognize the power of free markets to drive innovation, and that proceed with the conviction that free trade brings prosperity and progress," he said in a Thursday address.

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Embracing America’s Energy Abundance

american energy  exports  fracking  pennsylvania  taxes  ethanol  rfs34 

Mary Leshper

Mary Schaper
Posted March 11, 2015

The Hill (Congress Blog): The ongoing shale oil renaissance and the United States’ abundant natural resources has transformed our energy landscape, allowing American consumers access to affordable fuel supplies and spurring significant investment and job growth across our economy. But in order for this renaissance to continue, it is critical that lawmakers ensure that U.S. policy keeps pace so that our energy resources are being leveraged to provide the maximum benefit to the nation’s economy and international geopolitical interests.

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Crude Oil Exports, U.S. Energy and Global Influence

crude oil  energy exports  oil production  domestic production  global markets  refineries 

Mark Green

Mark Green
Posted March 3, 2015

ConocoPhillips Chairman and CEO Ryan Lance applies some uncomplicated logic to the question of whether the United States should lift its 1970s-era ban on exporting domestic crude oil. “We should treat crude oil like any other potential product export,” Lance said at an event hosted by the U.S. Chamber of Commerce.

As he did during a January visit to Washington, Lance laid out compelling reasons for lifting the crude oil export ban: An abundance of domestic light crude produced from shale is mismatched for a U.S. refining sector that’s largely configured to process heavier crudes, exporting crude would give producers access to the global market, helping to sustain domestic production and U.S. industry jobs, and exports would add supply to the global market, helping stabilize it and affording the U.S. new opportunities to exert positive influences in the world.

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Shale Energy, Imports and Global Markets

oil imports  refineries  eia  energy exports  hydraulic fracturing  fracking  infrastructure  pipeline construction 

Mary Leshper

Mary Schaper
Posted February 10, 2015

EIA Today in Energy: The increase in U.S. shale and tight crude oil production has resulted in a decrease of crude oil imports to the U.S. Gulf Coast area, particularly for light-sweet and light-sour crude oils. These trends are visualized in EIA's crude import tracking tool, which allows for time-series analysis of crude oil imported to the United States.

Historically, Gulf Coast refineries have imported as much as 1.3 million barrels per day (bbl/d) of light-sweet crude oil, more than any other region of the country. Beginning in 2010, improvements to the crude distribution system and sustained increases in production in the region (in the Permian and Eagle Ford basins) have significantly reduced light crude imports. Since September 2012, imports of light-sweet crude oil to the Gulf Coast have regularly been less than 200,000 bbl/d. Similarly, Gulf Coast imports of light crude with higher sulfur content (described as light-sour) have declined and have been less than 200,000 bbl/d since July 2013.

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The Global Impacts of American Energy

domestic oil production  crude markets  liquefied natural gas  lng  energy exports  keystone xl pipeline  hydraulic fracturing  horizontal drilling  fracking 

Mark Green

Mark Green
Posted December 31, 2014

Business Day: For years, Organisation of Petroleum Exporting Countries (OPEC) pulled the strings set the price of oil and controlled the supply. After dictating the course of oil prices for more than 50 years, OPEC is finding its influence diminished.

Right now, OPEC represents about 40 percent of global daily production. The organization still has a say in what the energy market looks like. But for OPEC, oil can no longer be used as either a weapon or as a lever. There is simply too much production arising beyond the control of OPEC.

For 2015, US will emerge as dominant player. OPEC member countries are gradually losing the largest energy market in the world and the irony is that they will soon be competing for the markets that used to be theirs for the taking. Projections from recent happenings reveal that in 2015 the US will start dictating to the market. With the advent in 2015 of large US exports of liquefied natural gas (LNG), the effect is even larger, and with it comes the hastening of OPEC’s decline.

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Policy Choices to Fuel America’s Energy Revolution

energy policy  oil and natural gas development  regulation  epa  hydraulic fracturing  horizontal drilling  energy exports  keystone xl pipeline  proved reserves 

Mark Green

Mark Green
Posted December 30, 2014

UPI:  House Republicans will work to create the "architecture of abundance" needed to take advantage of North American energy leadership, a lawmaker said.

The House Energy and Commerce Committee published a 105-page strategy document meant to highlight the agenda of the incoming Republican-led Congress. It says federal policies are ill-suited to develop the infrastructure needed to take advantage of the oil and gas production boost in the United States.

"Creating this architecture of abundance is slowed at every step by archaic federal rules that can cause years of delays and even block some pipeline and power line projects outright," the paper reads.

Rep. Fred Upton, the committee's chairman, said the new Congress would work to advance its blueprint when it comes into power in January.

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Energy and Leadership

energy policies  oil and natural gas development  domestic production  energy exports  access  regulation  offshore drilling  hydraulic fracturing  horizontal drilling 

Mark Green

Mark Green
Posted December 1, 2014

There’s a new global energy order – with the United States at the hub. That’s the assessment in a number of articles following last week’s meeting of oil-exporting countries.

The benefits to America are manifold. The U.S. as global energy’s new center of gravity means economic strength here at home through jobs, consumer benefits and greater energy security, and the opportunity to project positive American values abroad – by impacting global markets as discussed above and by helping friends overseas through energy exports. All result from America’s energy revolution, built on safe development of oil and natural gas reserves from shale and other tight-rock with advanced hydraulic fracturing and horizontal drilling.

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