President’s Executive Orders Show Support for Infrastructure Investment Expediting Keystone XL and Dakota Access pipeline projects is right decision for U.S. economy WASHINGTON, DC – The American Council for Capital Formation today released the following statement from ACCF Vice President of Communications Robert Dillon on President Donald Trumps’ executive orders expediting the Dakota Access Pipeline and Keystone XL Pipeline projects: “In signing the Keystone XL and Dakota Access executive orders, President Trump is following through on his campaign promise to reverse the previous administration’s approach of abusing the regulatory process to pursue a political agenda. Unfortunately, that agenda came at // Read More
Reuters / John Kemp / 7/12/16
U.S. natural gas prices have risen by a third since hitting a two-decade low in the first quarter, amid signs supply and demand are rebalancing and excess stocks left over from an unusually warm winter are being worked down.
The volume of gas in working storage hit a record 4.01 trillion cubic feet in November 2015 and is still at 3.18 trillion cubic feet, according to the U.S. Energy Information Administration (tmsnrt.rs/29AF787).
Gas stocks are 513 billion cubic feet (19 percent) higher than in the same week in 2015. But the build has shrunk steadily from a record 1.014 trillion cubic feet (69 percent) in March (tmsnrt.rs/29tgsGw).
Full story is here.
Forbes / Jude Clemente / 5/23/16
Burdened by sunken prices, global oversupply, more regulations, and more relentless attack, the U.S. oil and gas industry could use a cheer up. While there are threats, the emerging U.S. LNG export business has a bright future. Let’s just look at the latest global gas demand projection we have, EIA’s International Energy Outlook 2016 just released May 11.
Given that gas has CO2 emissions 40-50% lower than coal and 25-35% lower than petroleum, releases far fewer greenhouse gases and local pollutants, and is the essential backup for wind and solar power, COP21 commitments “simply cannot come to pass without more gas.” Lots more gas. The world is on the verge of major structural increases in natural gas demand.
Gas is the world’s fastest growing major fuel, and the big importers will require more imports. As a nation, we have an obligation to support our companies looking to export natural gas, because it helps to reduce global CO2 emissions, supplies modern energy to an overwhelmingly still poor and energy-short world, and buffers the gaining influence of the Gas Exporting Countries Forum, a “gas OPEC” set into motion by Vladimir Putin that holds nearly 70% of the world’s proven reserves.
The American Interest / Richard D. Kauzlarich / 5/10/16
Despite the turmoil of recent years, when U.S. allies find themselves in tight spots, they still expect that America will come to their assistance. And despite the worries of dwindling military and diplomatic resources, the U.S. government still has many other tools at its disposal—namely, market forces. An emerging case in point is America’s newfound energy abundance, particularly in natural gas.
The U.S. natural gas market over the past several years has become a source of envy for other foreign powers. The United States quickly became one of the world’s leading producers of natural gas and boasts the fourth-largest supply of recoverable shale gas reserves in the world. Even with prices falling, total U.S. natural gas production in terms of dry gas volume averaged 6.3 percent higher in 2015 versus 2014, according to the Energy Information Agency.
How can these assets at home help our allies abroad? The answer could rest, in part, with exports of U.S. liquefied natural gas (LNG).
It’s no secret that as U.S. production of natural gas continues to increase. Domestic stockpiles are about 25 percent above levels from one year ago and about 23.4 percent above the five-year average, and domestic consumption is well below current production levels. As a result, we are being increasingly woven into the international conversation on LNG exports, so much so that, according to a March 11 Forbes article, “After Qatar and Australia, the U.S. could easily become the world’s third-largest LNG supplier by 2020. We have a great advantage over other LNG exporters because we can reconfigure our vast LNG import structure to export.” BP’s recently released Energy Outlook 2016 Edition also predicts that the United States will become a net exporter of gas “later this decade.”
Full story is here.