Posted July 20, 2018
Big news in the latest API Monthly Statistical Report: U.S. crude oil production rose to an all-time record of 10.7 million barrels per day (mbd) in June – the largest monthly output, ever. According to the MSR, June domestic crude production increased more than 100,000 barrels per day over May, and the total was 1.6 million barrels per day more than June a year ago. But let’s go back to that top-line number – 10.7 million barrels per day – and comprehend what it means:
Economic growth and jobs – but also our country’s energy security, supporting the promise of present and future prosperity and opportunity. That’s the gift of the American energy renaissance that, well, keeps on giving.
All of the above support an argument that – to ensure an adequate global supply of crude oil upon which the U.S. and global economies rely – we should look to sustain and grow domestic natural gas and oil production.
Posted July 19, 2018
The Trump administration’s rejection of Plains All American’s request for an exclusion to the administration’s tariffs on imported steel – which the company planned for a pipeline out of the Permian Basin, the nation’s most dynamic oilfield – illustrates the head-on collision between trade policies and energy goals.
Caught in the middle: American consumers and U.S. energy security.
Posted July 18, 2018
There’s talk about reducing greenhouse gas emissions – and then there’s taking steps to produce measurable results. The United States is in the second category, with the natural gas and oil industry playing the leading role.
Two charts from the American Enterprise Institute’s Mark J. Perry help illustrate: First, using data gleaned from BP’s Statistical Review of Global Energy, Perry shows that the U.S. led the world in reducing carbon dioxide emissions in 2017.
Posted July 16, 2018
Tariffs and quotas on imported steel imposed by the Trump administration are self-inflicted potholes on the path to the administration’s goal of U.S. “energy dominance.”They’re bad for American energy, which uses steel throughout its operations and delivery networks. They’re bad for American manufacturing, they’re bad for American consumers, and they’re bad for America.
Posted July 10, 2018
Offshore energy development works for the states – all of them.
The U.S. Interior Department recently announced that $61.6 million in revenues from offshore oil and natural gas will be distributed to all 50 states, U.S. territories and the District of Columbia – via grants that support state conservation and outdoor recreation projects.Ponder that: You don’t have to be a coastal state; you don’t have to be a producing state. Under the Gulf of Mexico Energy Security Act (GOMESA), everyone benefits from offshore natural gas and oil revenues that are earmarked for Land and Water Conservation Fund (LWCF) grants.
Posted July 9, 2018
There’s good and not-so-good in a recent Washington Post editorial on natural gas and climate policy, which rightly nails the importance of natural gas to the U.S. economy and the environment, yet wrongly suggests more layers of government regulation are needed to further reduce greenhouse gas emissions.
Posted July 5, 2018
Every summer Americans take to the highways. It’s a big country with lots to see, and reliable fuels are fundamental to the uniquely American freedom to range far and wide. In 2017, Americans traveled nearly 8 trillion miles from April to August. As we load our cars with sports gear, picnic baskets and beach chairs, some tips from API downstream experts to help those fuels take you as far as possible – safely, all summer long.
Posted July 3, 2018
As many of our long-time readers know, I am not the original author of this blog but have carried on a conversation Jane Van Ryan started in 2009. Jane, who passed away on Sunday, was part of the original Energy Tomorrow team, whose goal was to help tell the story of the people of America’s natural gas and oil industry.
A former television reporter, Jane knew how to tell a story and tell it well.
Posted July 2, 2018
In previous posts (see here and here), we’ve discussed factors that have affected gasoline prices in the past. The cost of crude oil is chief among them, accounting for more than 50 percent of the fuel price. Some other factors are seasonal, and taxes imposed on each gallon of gasoline vary from state to state.
Posted June 29, 2018
Closing day at WGC2018. I attended great panels on the innovation that will carry the natural gas industry into the foreseeable future and one on the “game-changers” looming ahead for industry. Big takeaways:
Natural gas is the linchpin for a clean energy future – from its own clean attributes and by partnering with intermittent energy technologies such as wind and solar.
America’s energy abundance, seen especially in record production of natural gas, is critically important to U.S. energy and economic security.
And technology and innovation, which already play a big role in today’s natural gas and oil production, will drive greater efficiencies and productivity in the years ahead.