Pittsburgh Business Times – Marcellus Royalties Rising

The newspaper reports on a study by the Allegheny Institute for Public Policy showing that royalty income paid to land and mineral rights owners in Marcellus Shale play has skyrocketed in recent years, from an estimated $10.9 million in 2008 to  an estimated $731 million last year.

MSN Money – Meet the State with America’s Strongest Economy

Thanks to the surge in hydraulic fracturing and shale development in North Dakota, the state’s GDP rose 13.4 percent in 2012 over 2011 to lead the U.S.  Per capita personal income also has soared, doubling since 2000.

Wall Street Journal Live – Interview: Chevron’s John Watson

Chevron’s CEO sat down with WSJ to discuss the evolving global shale market and the impacts of U.S. shale reserv... more »

Fox Business – Oil and Natural Gas Industry Readies for Hurricane Season

API’s Rayola Dougher stopped by Fox Business and outlined measures the industry takes to prepare its employees and facilities for the threats posed by hurricanes. “Worker safety is the industry’s top priority,” Dougher said.

CNN Money – U.S. Steps Up Natural Gas Exports

With  the Energy Department granting a second liquefied natural gas export license last month, the U.S. might soon see the approval pace quicken on the remaining export applications, CNN reports. 

San Francisco Gate – BP Announces Investment Plans After Alaska Oil Tax Change

The company says it  will invest another $1 billion for oil production in Alaska over the next five years. BP plans to  bring nine drilling rigs to the North Slope,... more »

Later this year EPA is expected to propose stricter ozone standards that could lower the current 75 parts per billion (ppb) limit to 60 ppb. First, a map showing areas of the country (in red) that exceed current 75 ppb standards, enacted in 2008:

Certainly, areas in red have a ways to go to meet ozone standards – but, obviously, much of the country is in compliance. Now, a map showing (orange and red) how much of the U.S. would be out of compliance if standards were set at 60 ppb:

We’ll do the calculating for you: At 60 ppb, 97 percent of the U.S. population would live in places out of compliance and subject to new emissions requirements. Virtually any human activity producing emissions could be restricted or affected. Howard Feldman, API’s director for regulatory and scientifi... more »

The Atlantic – How Houston Became the Most Powerful Job Engine in the Country

Texas is killing it, reports the magazine’s website A new analysis of jobs recovered since the economic downturn finds that the state’s  largest city stands apart as the most powerful job engine in the country – thanks to its ties with the energy industry.

CNN Opinion – Make Sure Fracking is Done Right

In a guest post, the Council On Foreign Relations’ Michael Levi writes that “people are right to insist that [hydraulic fracturing] is done safely, but they're wrong if they conclude that it can't be.”

Washington Times – Illinois Edges Closer to Endorsing Hydraulic Fracturing

WT has a recap of the conversation and steps that have been taken by the Illinois  legislature to bring hydraulic fracturing to t... more »

Neat interactive infographic in this weekend’s New York Times Sunday Review, plotting the corporate income tax rates paid by various U.S. companies from 2007-2012 (according S&P Capital IQ):

We couldn’t help noticing one of the captions below the bubbles, second from the right, showing the location of three oil and natural gas companies – ExxonMobil (37 percent effective tax rate), Chevron (39 percent) and ConocoPhillips (74 percent, or more than $58 billion on earnings of nearly $79 billion) – all well above the 29.1 percent overall effective tax rate, according to the data set used by The Times.

You can see where individual industry sectors stand. Here’s an "iso-graphic" for the oil and natural gas industry (average 37 percent effective tax rate):

And for the information te... more »