Energy Outlook
Production up on private lands, down on federal lands
“We have increased oil production to the highest levels in 16 years,” says President Obama. “Natural gas production is the highest it’s been in decades.” While technically true, those statements do a poor job of telling the investment and innovation story behind hydraulic fracturing.
Punting on the renewable fuels “blend wall”? Block that punt.
With football season almost upon us, perhaps it’s not surprising the Obama Administration chose to punt last week when it had a chance to temporarily fix the Renewable Fuels Standard debacle I described not long ago.
A run on the RIN bank is leading to a crash
The scramble among refiners to purchase RINs has sent the price of these credits skyrocketing. Platts Commodity News reported yesterday that prices soared to $1.32 per RIN on Monday, the fifth record in the previous six trading sessions. By contrast, RINs traded for two cents apiece last year.
Congress warned about impending “blend wall” crash
“It’s hard to believe that when Congress passed the Energy Independence and Security Act of 2007, a possible outcome was to reduce U.S. gasoline supplies and increase gasoline prices. However … that is exactly the potential outcome we find ourselves in today.”
Talking corporate social responsibility in Jakarta
Energy is fundamental to economic growth, and ExxonMobil helps provide the energy supplies that fuel it. That’s our supply chain in its broadest form, and it informs our view of social corporate responsibility.
Of California and Texas and New York and Pennsylvania…
Several items have caught my eye in recent weeks that reinforce the old dictum that states are the laboratories of democracy. Under our system of government, states and individual localities may adopt different policy approaches on a host of issues. The lessons and success of those policies can offer valuable guidance to other lawmaking and…
