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Energy Tomorrow Blog

The Science of Keystone XL

keystone xl pipeline  job creation  economic growth  oil sands  trade  congress  president obama  canada  refineries 

Mark Green

Mark Green
Posted January 15, 2015

Facts and science over politics. That’s the way energy policy should be made. Too many policy matters in the energy space are being hijacked by politics. The Keystone XL pipeline is one example, as are some of the regulatory initiatives the administration is pushing right now. That’s not the way to craft good energy policy.

Keystone XL has been stuck on the drawing board more than six years because it was turned into a political football by the White House. Cross-border pipelines like Keystone XL historically have gained approval in 18 to 24 months. We’re at 76 months and counting for political reasons, not because of compelling scientific and economic analysis – as advanced in the five reviews conducted by the U.S. State Department.

Keystone XL finally has reached the debate stage in the Senate, but the White House is threatening to veto legislation that would advance the project. More politics, more delay, more missed opportunity for American workers and U.S. energy security.

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No More Excuses on Keystone XL, and More

keystone xl pipeline  oil sands  Economy  Energy Security  Environment  jobs  trade  lng exports 

Mary Leshper

Mary Schaper
Posted January 9, 2015

The Hill: The Nebraska Supreme Court on Friday struck down a lower court's challenge to the controversial Keystone XL pipeline, handing a key victory to proponents of the project. The decision overturns a lower court's ruling that had sided with landowners challenging Keystone's path through Nebraska. The lower court said a 2012 law that allowed Nebraska Gov. Dave Heineman (R) to greenlight the route was against the state's constitution.

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The (Good) Economics of America’s Energy Boom

Economy  jobs  trade  fracking  keystone xl pipeline  affordable energy 

Mary Leshper

Mary Schaper
Posted January 8, 2015

Wall Street Journal: Justin Friend ’s parents have doctoral degrees and have worked as university lecturers and researchers. So Mr. Friend might have been expected to head for a university after graduating from high school in Bryan, Texas, five years ago. Instead, he attended Texas State Technical College in Waco, and received a two-year degree in welding. In 2013, his first full year as a welder, his income was about $130,000, more than triple the average annual wages for welders in the U.S. In 2014, Mr. Friend’s income rose to about $140,000.

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New Year Brings Energy Policies into Focus

energy policy  Energy 101  trade  Economy  imports  lng exports  keystone xl pipeline  soae 

Mary Leshper

Mary Schaper
Posted January 7, 2015

Wall Street Journal: The U.S. trade gap narrowed in November to its lowest level in nearly a year, reflecting gyrations in the oil market that mask strong underlying domestic demand for foreign goods. The trade deficit fell 7.7% to a seasonally adjusted $39 billion in November from the prior month’s deficit of $42.25 billion, the Commerce Department said Wednesday. The reading marks the smallest deficit since December 2013. October’s deficit was revised from an initially reported $43.43 billion. The narrower trade gap could support fourth-quarter economic growth. Barclays lifted it forecast fourth-quarter gross domestic product forecast to a 3.5% gain from a 2.7% advance following the trade report. Credit Suisse moved its estimate to a 3.2% advance from 2.9%.

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The President and Keystone XL: No Laughing Matter

keystone xl pipeline  president obama  job creation  economic growth  canadian oil sands  trade  infrastructure 

Mark Green

Mark Green
Posted December 11, 2014

Near the end of his appearance on the “Colbert Report” earlier this week, President Obama tells host Stephen Colbert that getting things done is the real satisfaction he takes from his job:

“I love the job, and it’s an incredible privilege. But when you’re in it you’re not thinking about it in terms of titles. You’re thinking about how do you deliver for the American people?”

Ironically, the remark about delivering for the American people comes just a few minutes after the president offers up familiar excuses for failing to deliver for the American people on the Keystone XL pipeline. With Americans backing the pipeline by more than 3 to 1, it looks like President Obama isn’t listening to the people he’s supposed to serve – or is simply ignoring them.

The president’s Keystone XL rhetoric remains starkly at odds with the facts – including those proffered by his own State Department. State has completed five separate environmental reviews on Keystone XL over more than six years, all of which cleared by the pipeline. Whether President Obama is talking to business executives or cutting up with Colbert, he’s startlingly disconnected with fact on Keystone XL.

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Falling LNG Imports, America’s LNG Exports Opportunity

lng exports  natural gas development  economic growth  job creation  trade  shale energy 

Mark Green

Mark Green
Posted November 13, 2014

A good deal of the buzz generated by America’s ongoing energy revolution has centered on the way surging domestic production is changing the crude oil imports picture. No question, it’s a pretty one, with net imports as a share of consumption falling to levels not seen in nearly three decades. That’s great news for job creation, the economy, our balance of trade and America’s energy security.

But here’s another pretty picture: declining imports of liquefied natural gas (LNG). Actually, “declining” is too mild a term for what we’re seeing. Thanks to energy developed from shale using hydraulic fracturing and horizontal drilling, the U.S. has become the world’s No. 1 natural gas producer – which has dramatically cut the need to shop the world market for supplies of natural gas, illustrated in plummeting LNG imports.

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Canadian Oil Sands, American Benefits

oil sands development  canadian oil sands  trade 

Mark Green

Mark Green
Posted October 31, 2014

Here’s what we know about U.S. energy security, with much credit due to our partnership with Canada, America’s  No. 1 source of imported oil:

In 2013, U.S. crude oil imports were 541 million barrels lower than in 2010, a 16 percent decrease, according to the U.S. Energy Information Administration (EIA).Also in 2013, U.S. imports of crude oil from Canada were 222 million barrels higher than in 2010, an increase of nearly 31 percent.

Put the two together and what you see is a more energy-secure America: increased domestic energy – largely from shale development – more oil from our neighbor and ally and reduced imports overall.

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Looking to America’s Bright Energy Future

american energy  exports  jobs  Economy  trade  fracking 

Mary Leshper

Mary Schaper
Posted October 3, 2014

The Hill Congress Blog (Dan Eberhart): America’s boom in shale oil and gas has given us a new tool to counter aggressive nations without firing a shot.  That tool is energy abundance.  With increased production and new techniques of extracting energy from shale, it’s time to break free from outdated shackles on U.S. crude oil exports.

In the 1970s, we were hogtied by energy scarcity. The U.S. suffered a devastating oil embargo during the mid-1970s courtesy of the Organization of Arab Petroleum Exporting Countries (OAPEC), and at the end of the six-month embargo, oil prices had quadrupled from $3 a barrel to nearly $12. Our country’s economy was crippled, and we faced the prospect of “stagflation” and wage and price controls.

By December 1975, President Gerald Ford signed the Energy Policy and Conservation Act (EPCA), a ban on most U.S. energy exports that remains in place today.  At the time, export bans made sense; they preserved the resources we did have.  

That was then, this is now.

Today, the ban is hurting our economy and global competitiveness. Lifting the crude export ban would tilt global markets, benefit the American consumer and bolster the US economy, restoring the US to the status of energy superpower. 

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Merits of Oil Exports are Clear

crude oil  exports  trade  oil production  economic benefits 

Mark Green

Mark Green
Posted September 10, 2014

A new report from Brookings’ Energy Security Initiative adds more scholarly weight to the analytical case for lifting America’s decades-old ban on crude oil exports. Echoing earlier studies by IHS and ICF International, the Brookings research finds that allowing the export of domestic crude would stimulate more oil production here at home, provide broad economic benefits and strengthen U.S. energy security. Brookings:

… we believe that the U.S. should allow the market to determine where crude oil will go and move immediately to lift the ban on all crude oil exports. … After 40 years of perceived oil scarcity, the United States is in a position to help maximize its own energy and economic security by applying the same principles to free trade in energy that it applies to other goods. By lifting the ban on crude oil exports, the United States also will help mitigate oil price volatility while alleviating the negative impacts of future global oil supply disruptions.

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Outdated Trade Barriers Limit America’s Energy Potential

energy exports  crude oil  liquefied natural gas  lng  economic growth  trade 

Mark Green

Mark Green
Posted August 8, 2014

The U.S. Commerce Department’s newest trade report released this week shows increased exports of crude oil and petroleum products were a major factor in shrinking the trade deficit in June to $41.5 billion, down from $44.7 billion in May.

That’s great news. Energy exports are helping build America’s economic strength globally while creating jobs and opportunity here at home. America is more secure as a result of our energy revolution that is bringing opportunities to engage world energy markets and harness U.S. energy for good. Allowing more U.S. oil and natural gas exports is the logical course to support and expand America’s global presence.

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