Energy Technology
Is energy production transforming the American economy?
NPR had a good piece Wednesday morning about the state of the economic recovery in the United States. What really stood out was its treatment of the transformative role played by the American oil and gas industry in driving economic growth and job creation. Among the guests on the Morning Edition segment was Zanny Minton Beddoes of The Economist, who highlighted the role of American shale oil and gas development. Beddoes said it “is completely revolutionizing part of the U.S. economy, and it’s a strength that a lot of other advanced economies haven’t got.”
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.
Oil sands innovation: Greater efficiency, fewer emissions, more supply
The oil contained in Canada’s oil sands is one of the largest energy resources in the world. To produce it in a way that’s not only economic but also has less impact on the environment has been one of the great engineering and technology challenges of our industry. ExxonMobil and our Canadian affiliate Imperial Oil have been investing in this challenge for more than 40 years.
Facts on the hydraulic fracturing process
A couple weeks ago, I pointed to a U.K. Parliamentary study that found that hydraulic fracturing–a method that’s enabling greater production of natural gas in shale and other formations–poses no more risk to the environment or water supplies than any other oil and gas production technique. What’s most important about hydraulic fracturing is ensuring that proper well design and water handling procedures are rigorously applied at every well. But public questions remain, and I think many people might be wondering, “So what exactly does ‘proper well design’ mean?”
ExxonMobil’s earnings: The real story you won’t hear in Washington
Big numbers make headlines – like our announcement of $10.7 billion in earnings for the first quarter of 2011. What may not make the headlines is the context surrounding that number, so I thought I would share with you what I told reporters following the announcement.
