Energy Security
Imports, exports and U.S. energy security
We’re currently having an interesting discussion in the United States — one that few would have thought possible a decade ago. Americans are talking about the recent upswing in U.S. oil and natural gas production – and how it can benefit the U.S. economy and U.S. energy security. Technology developed by the industry has opened up vast energy resources across the country, from shale gas and tight oil to deepwater oil and gas. They’re also talking about what these new supplies mean for the United States when it comes to energy trade – what we import and what we export.
Stats you need to know about gasoline, crude oil and the companies producing it
A U.S. election season … the summer driving season … political instability in some parts of the world … and upcoming earnings results for oil companies. This is the backdrop against which consumers are hearing a lot of commentary about gasoline prices and energy policy. It can sometimes be tough to tell reality from rhetoric. So I thought I would recap a few key stats about gasoline, crude oil and the companies producing it.
U.S. government confirms petroleum product exports not causing higher pump prices
When the price of gasoline increases, so do the misplaced theories that some commentators use to explain the phenomenon. Some, including Fox’s Bill O’Reilly, have charged large integrated oil companies with manipulating the price of gasoline by purposefully taking gasoline and diesel out of the U.S. market. I recently explained why this analysis is wrong, and now along comes independent verification from the U.S. Energy Information Administration.
Déjà vu all over again: Senate targets American oil and gas companies for energy tax hikes
Any doubt we are in the middle of an election season will be erased by casting an eye on Washington, where some in the United States Senate are once again training their sights on the oil and gas industry. The Senate leadership is scheduling a vote in the next few days on a bill its supporters claim will “eliminate unnecessary tax subsidies” for integrated energy companies like ExxonMobil. It bears a loaded title: the “Repeal Big Oil Tax Subsidies Act” (S.2204). As Yogi Berra might say, “It’s déjà vu all over again.”
North America can help deliver a global energy transformation – if leaders do their part
North America stands ready to play a leading role in a global energy transformation through the safe and responsible development of shale natural gas, oil sands and deepwater resources to meet growing energy needs –but it is going to require industry and governments to fulfill their respective roles if these opportunities are to be maximized. ExxonMobil Chairman and CEO Rex Tillerson delivered this important message at a keynote address yesterday at CERAWeek in Houston.
New alliance will focus on breakthrough oil sands technologies
More good news about innovation and progress in oil sands development came from Canada late last week. In Calgary, the chief executive officers from 12 oil sands-producing companies – including ExxonMobil’s affiliate Imperial Oil – signed a charter to create Canada’s Oil Sands Innovation Alliance (COSIA). This organization is designed to pool companies’ expertise in oil sands technologies and processes and build upon the independent research and development already taking place.
