Two new reports outline the importance of crafting the right policies to capitalize on America’s vast wealth in shale natural gas.

An American Chemistry Council (ACC) analysis points to rich capital investments and job gains to be realized in that sector because of abundant, affordable supplies of shale natural gas:

• $71.7 billion in chemical industry investments publicly announced through the end of March.
• 46,000 new chemical industry jobs by 2020.
• 264,000 jobs in supplier industries by 2020.
• 226,000 induced jobs in communities where chemical industry workers spend their wages.
• $20 billion in federal, state and local tax revenue.

ACC President and CEO Cal Dooley:

“The United States has become a magnet for chemical industry investment, a testament to the fav... more »

Increasing U.S. domestic production of oil matters. Energy Information Administration (EIA) chief Adam Sieminski had this analysis at an energy conference earlier this week (h/t Breaking Energy):

“There’s a fairly significant, long-standing relationship between spare production capacity in OPEC and what the pricing environment is for oil. So the 2 million barrel per day  increase in U.S. oil production that surprisingly took place over the last five years has resulted in higher OPEC spare capacity, and undoubtedly, has been a factor in why Brent oil prices are $103-$104/bbl rather than $125-$130/bbl.”

In other words, the head of the federal agency that analyzes energy data says the recent growth in U.S. production has helped reduce the price of Brent crude, a leading global bench... more »

Free Enterprise – Keystone XL: Real Benefits for the U.S.

Sean Hackbarth notes  Keystone XL pipeline developments this week: The House Transportation Committee advanced  a bill that would allow construction of the full pipeline – the third congressional committee to do so; Canadian Prime Minister Stephen Harper was in New York City touting  the project’s benefits  for both the U.S. and Canada; and a small business owner in Maryland told the president that businesses like his  would get a boost from the project.

The Hill – DOE Approves Natural Gas Export Project

A Texas LNG  facility has the green light from DOE  for exports to non-free trade nations. DOE noted that project opponents “have not demonstrated that the requested authorization would be inconsistent with the public int... 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 »