Good News Friday: Help Wanted, Shale Boom and New Markets

Here's a Friday look at some of the ways oil and natural gas are making life better across the country:

Hey, Minnesota! - The Minneapolis Star Tribune reports that North Dakota has 17,000 job openings - most of them related to its booming oil and natural gas and coal mining activities - and is trolling for workers in neighboring Minnesota. "We are in such a wonderful position over here right now," said North Dakota Commerce Commissioner Alan Anderson. "But we have a 3.3 percent unemployment rate. ... So we have to either get some more folks coming back home or get more coming across the state line to share in the opportunities." North Dakota is the country's fourth-largest oil producer, which is driving economic activity in other areas. Hardware stores, big box retailers and apartments are... more »

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Offshore Drilling Can Resume for 13 Companies

The administration announced today that 13 oil and natural gas companies can resume deepwater drilling activities in the Gulf of Mexico without submitting revised exploration or development plans for supplemental environmental reviews.

In a statement, Michael Bromwich, director of the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE), said he is "taking into account the special circumstances of those companies whose operations were interrupted by the moratorium and ensuring that they are able to resume previously-approved activities." The statement added that the companies will have to comply with new regulations and information requirements imposed after the Deepwater Horizon tragedy.

Although this is probably welcome news for the 13 companies, Bromwich's announcement... more »

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The Administration’s Energy Bias

If anyone doubts the current administration's negative impact on U.S. oil and natural gas development, the Western Energy Alliance (WEA) has some news for you: The numbers don't lie.

The WEA recently compiled government data showing trends in oil and natural development on western public lands. The figures are revealing:

  • Since FY2005, BLM has offered 60 percent fewer parcels and 70 percent fewer acres to development.
  • Leasing revenue to the federal government fell 46 percent from $189.6 million in FY2005 to $101.6 million in FY2010.

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Gov. Paterson Should Veto the Fracking Moratorium

The New York State Assembly passed a measure placing a six-month moratorium on hydraulic fracturing late yesterday. The state Senate passed the ban in August, and now the legislation will go to Gov. David Paterson for his signature.

API's Chief Economist John Felmy today urged the governor to veto the ban. "Blocking important natural gas development and the creation of new jobs and revenues is not sound energy or economic policy. New York continues to struggle with an economic crisis, and natural gas should be part of the solution to the state's economic problems," John said.

A recent study shows natural gas development in New York's Marcellus Shale region could generate more than $16 billion in economic output, nearly $4 billion in additional tax revenue, and more than 180,000 jobs in New... more »

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Energy Formations to Watch

We've told you about the Bakken, Marcellus, Haynesville, Bossier, and other U.S. shale formations that are helping to provide much-needed domestic energy supplies. But have you heard of Eagle Ford?

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For many years, this brittle shale formation stretching from Mexico across southern Texas has been known to contain large amounts of oil and natural gas, but wells have not been able to produce commercial quantities of energy through conventional vertical drilling.

Recently, drillers have begun applying horizontal drilling and hydraulic fracturing to the formation and are producing significant amounts of oil, natural gas and high-quality natural gas liquids.

According to the Eagle Ford Shale Blog, the CEO of EOG Resources says the Eagle Ford shale may be one of the biggest U.S. oil discoveries... more »

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