Washington Examiner – Fracking Could Create New Wealth for New York

In a guest column, former Department of Labor Chief Economist Diana Furchtgott-Roth discusses the opportunities hydraulic fracturing could bring to New York state. “Using the Pennsylvania data to project fracking's effect on New York counties, I find that the incomes of those who live in the 28 New York counties above the Marcellus Shale have the potential to expand by as much as 15 percent over the next four years -- if the state's moratorium is lifted.”

National Journal – Natural Gas Exports Loom Large Over Washington

NJ’s Amy Harder takes a look at the liquefied natural gas debate after a visit to Dominion’s Cove Point, Md., facility – a former import terminal waiting for federal approval to add  export capabili... more »

Lots to like in President Obama’s remarks earlier this week from New York:

“When it comes to energy, not only have we been able to double our production of clean energy, but even in terms of traditional energy, we will probably be a net exporter of natural gas in somewhere between five and ten years.  And so the idea of the United States being energy independent – which seemed far-fetched as recently as 10 years ago – now is actually a possibility.”

As well as those from Texas earlier this month, where he talked about job creation and driving economic momentum:

“… we've got to make America a magnet for good jobs. … And even as we’re working to reverse the trend of communities that have been hard hit with old manufacturing leaving, we’ve got to propose partnerships with local... more »

Energy Biz – Shale Gas Shifting Global Energy Map

The global development of shale gas  has the potential to boost worldwide natural gas supplies and help reduce market costs, writes Siemens Financial Services President Kirk Edelman. “For the U.S., the shale gas boom is still perhaps only a potential game changer, however, if realized, the economic benefits will be significant.”

Breaking Energy – The Science Behind the Keystone XL Pipeline Decision

Breaking Energy recaps the congressional Energy and Environmental Subcommittees’ joint hearing on the Keystone XL pipeline last week. Rep. Chris Stewart noted  that Keystone XL has been under review for more than four years, which is how long  it took to fight World War II, build most of the transcontinental railroad and the typical lengt... more »

Ethanol advocates often assert that ethanol costs less per gallon than gasoline while trying to justify the Renewable Fuel Standard (RFS).  While it’s true that on a gallon-to-gallon basis ethanol historically has been cheaper than gasoline, ethanol contains far less energy than gasoline and therefore has cost consumers more to travel the same distance, as I pointed out (here, here and here).  Look at the graphics below, produced by EPA and the Energy Department: The real costs to consumers, measured in fuel economy, has been significant.

As you can see, vehicles that can run on either gasoline or E85 (average 74 percent ethanol content) get significantly fewer miles per gallon when using comparatively low energy ethanol blended fuels.  This means that in addition to the ex... more »

The Associated Press has this look at momentum for exporting U.S. natural gas, driven by an abundance of natural gas from shale via hydraulic fracturing. Bill Cooper, president of the Center for Liquefied Natural Gas, tells AP:

“LNG exports are a huge opportunity for the United States economy, our workers and our geopolitical relationships with countries such as Japan that are seeking to import natural gas. LNG exports will create jobs, increase government revenue and benefit consumers.”

Cooper is right. Studies – like this one for the Energy Department and this one by ICF International – show how America’s wealth in natural gas from shale could support demand here and overseas, to America’s benefit in terms of job and economic growth.

Currently, the Energy Department is review... more »