Posted November 3, 2016
Posted October 5, 2016
Posted October 3, 2016
As is the case with any tradable commodity, selling U.S. natural gas outside this country promotes domestic jobs and economic growth. Expanding demand for U.S. natural gas in global markets through LNG exports will result in increased domestic investment, enhanced GDP growth, rising incomes and more well-paying jobs. At the same time, U.S. LNG exports will expand global natural gas markets – enhancing U.S. influence to encourage transparency and fair market rules while strengthening relationships with our allies.
Posted September 14, 2016
Posted August 30, 2016
The United States leads the world in oil and natural gas production – and also reduction of carbon emissions. This global leadership largely results from private investment and innovation by the oil and natural gas industry, which has developed the advanced technologies needed to drive the American energy renaissance of the past decade. API President and CEO Jack Gerard discussed these issues and others during a conference call with reporters.
Posted July 14, 2016
CNBC has put out its annual ranking of America’s top states for business, an analysis based on a number of things including metrics for workforce, infrastructure, access to capital and quality of life. Another of those metrics, cost of living, caught our eye because energy was part of the calculation. Indeed, in CNBC’s ranking of the country’s 10 most expensive states to live in, the cost of energy to residents a key factor.
Five members of that dubious top 10 are New York, Connecticut, Massachusetts, Rhode Island and New Hampshire, and energy costs there are higher than they need to be. According to the U.S. Energy Information Administration (EIA), those states and neighbors Maine and Vermont all had costs for residential electricity and natural gas that exceeded national averages this past winter. Of course, these states are located in a part of the country where more energy infrastructure (see previous posts here and here) could positively impact energy costs.
A couple of charts show the cost being borne by consumers in those states, in part, because there’s inadequate natural gas pipeline infrastructure to meet home heating and power generation needs during peak winter months.
Posted July 6, 2016
Good to hear President Obama extolling some of the benefits of the U.S. energy revolution this week in North Carolina, starting with security and consumer benefits. Both are firmly linked to surging domestic oil production – which of course is why the United States leads the world in oil and natural gas output. The president:
“Remember when we were all concerned about our dependence on foreign oil? Well, let me tell you, we’ve cut the amount of oil we buy from other countries in half. Remember when the other team was promising they were going to get gas prices down in like 10 years? We did it. … So we have been able to shape an energy policy that’s good for families, good for your pocketbook.”
Indeed, producing more oil and gas here at home has had great impact on U.S. energy security and security overall. The United States is stronger in the world today because it is less dependent on others for imported energy. According to the U.S. Energy Information Administration (EIA), net imports stood at 4.6 million barrels of oil per day in 2015 – lower than any year since they were at 4.2 million barrels per day in 1985. EIA projects that in 2040 net crude imports will drop to about 1.5 million barrels per day.
Posted July 5, 2016
A newly expanded Panama Canal is open for business.
It’s noteworthy, as federal official say, that the enlarged canal can handle the vast majority of the world’s liquefied natural gas (LNG) tankers while significantly shortening travel time and transportation costs for U.S. LNG suppliers to key overseas markets. This is huge for U.S. LNG exports, offering another strong argument for swifter federal approval of pending LNG export projects.
Posted May 4, 2016
The progress the United States is making toward its climate goals starts with clean-burning natural gas.
Increased domestic natural gas production and its use is the primary reason the United States leads the world in reducing carbon emissions. It’s the keystone for a workable strategy to advance climate goals while sustaining economic growth and prosperity – the U.S. model. The U.S. Energy Department’s Christopher Smith, last week in Houston:
“A big part of the reduction in greenhouse gas emissions that we’ve been able to manage in the United States is due to the fact … we’ve got trillions of cubic feet of natural gas that we are going to be able to produce safely, and our domestic supply has gone from one of scarcity to one that has enabled us to use more natural gas in baseload power consumption.”
Posted March 8, 2016
The oil and natural gas industry will offer employment opportunity for women and minorities over the next couple of decades. So says a new report by consulting firm IHS, which projects significant job gains for women, African Americans and Hispanics between now and 2035.
IHS estimates that by 2035 Hispanics and African Americans will hold nearly 40 percent of the 1.9 million direct jobs in the oil and natural gas and petrochemical industries, with 16 percent of the jobs being held by women.