It’s an old adage in the energy business that forecasts are always wrong and miscalculations regarding US gasoline demand growth and advanced biofuel supply growth led to a regulatory regime that is increasingly becoming untenable. The Environmental Protection Agency (EPA) last week issued its 2013 Renewable Fuel Standard (RFS) final rule. This year’s volumetric requirement… Keep reading →
The US Department of Energy announced conditional approval yeserday for 2 billion cubic feet per day of LNG exports from a proposed export project in Lake Charles, Louisiana to countries with which the US does not have a free trade agreement. This marks the third project obtain non-FTA export approval thus far. Proponents of unfettered… Keep reading →
The US Energy Information Administration’s “Today in Energy” publication, out this morning, sheds some light on the relationship between the energy sector and job growth. While the trend that it highlights is not new, especially to outfits like industry groups API and Independent Petroleum Association of America, what is different in this case is… Keep reading →
The EPA released its finalized 2013 Renewable Fuel Standard yesterday, which laid out modified volumetric requirements for renewable fuels blended into the fuel supply, as well as more flexibility in meeting the standard. This year’s volumetric requirement is unchanged from a previous proposal, at 16.55 billion gallons this year. Of that volume, 1.28 billion gallons must be… Keep reading →
US President Barack Obama said in a July 27 interview with the New York Times that construction of the Keystone XL pipeline would create around 2,000 jobs during construction – which he estimated would last one to two years – after which that number would fall off to 50-100. Oil and gas trade group API, unsurprisingly,… Keep reading →
Several of the Lower 48 United States, such as North Dakota, are in the midst of rapid oil sector growth. Meanwhile, oil output in Alaska – traditionally a producing state – is declining. And who owns the land could be a factor in that disparity. US oil production has grown rapidly over the past… Keep reading →
Importing Canadian heavy oil via the Keystone XL pipeline may represent a more environmentally friendly option than crude from other sources, according to panelists at the New York Energy Week Oil and Gas Market Perspectives breakfast on Tuesday, hosted by CME Group. Environmentalists frequently cite the environmental footprint of Canada’s “tar sands” as a primary… Keep reading →
US oil inventories grew by 4.4 million barrels last week to 395.1 mn bbls, their highest level in three decades, according to oil and gas industry group API. But Energy Information Administration data out later today might show that supplies actually declined. Confusing. [Bloomberg] UPDATE: EIA data shows US commercial crude stocks for the week… Keep reading →
Despite progress, US infrastructure continues to get a near-failing grade from the nation’s engineers, the Keystone debate drags on, climate change policy is back in the headlines and Europeans contending with Cyprus’ financial meltdown are wondering if oil and gas development could help resolve some of the island nation’s issues.
The American Society of Civil Engineers releases its 2013 Report Card for America’s infrastructure today, and the country’s parents wouldn’t exactly be enthusiastic. From deficient bridges to power outages and ever-growing traffic, the country’s score only “inched up” to a D plus, the group says. Find out more here. Keep reading →
For many decades the benefits of oil and gas development in the US have been overshadowed by the amount of money companies in the sector have made, the environmental impacts of use or development and occasional accidents and the degree to which imports impact US foreign policy and economic health.
The extent to which the US oil and gas business drives job growth, contributes to local and the national economies and has renewed potential to shift economic and political power back to the US were the focus of the American Petroleum Institute’s State of American Energy presentation in Washington, DC today. API has sought ways to boost the reputation of the oil and gas industry in recent years after the industry faced unprecedented opposition to new development both on-and-offshore as new technology allowed access to onshore reserves and offshore development revived. Keep reading →
