Natural Gas
A billion-dollar daily shot in the arm for the American economy
One billion dollars every single day. That is the rough measure of the benefit the U.S. economy is estimated to receive by the end of this year thanks to the development of new supplies of oil and natural gas, according to a new analysis.
Energy production fueling U.S. cities’ economic recovery
Evidence continues to mount showing that the rise in oil and natural gas production from unconventional sources in the United States is yielding tremendous economic benefits for Americans. A recent demonstration comes courtesy of the team running the Brookings Institution’s Metropolitan Policy Program. Several weeks ago they launched an interactive version of their quarterly MetroMonitor feature, which examines the latest economic data to gauge the health of the 100 largest metropolitan areas in the United States.
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.”
IEA’s “Golden Rules” report sees a golden opportunity in shale gas
Are we living at a historic moment in the evolution of energy markets? The vast amount of natural gas in the United States and around the world now within our industry’s reach – thanks to advances in technologies used to produce energy from shale and other “unconventional” resources – suggests the beginning of a new era in the production of cleaner-burning natural gas. Yet even as development proceeds in the United States, the world’s response to this moment of opportunity is not certain. The International Energy Agency (IEA) has also recognized this pivotal moment. In a new report, the IEA spelled out the future implications if we take full advantage of this new energy opportunity – as well as what might happen if we don’t.
In Pennsylvania, a shipyard is back to life due to U.S. energy development
Last fall, I wrote about how U.S. energy development is creating jobs in places you might not expect – such as in the Aker shipyard in Philadelphia. In September, ExxonMobil affiliate SeaRiver Maritime signed an agreement with Aker to build two new Liberty Class tankers. Last week, the Philadelphia Inquirer looked into what this new business means for the shipyard, which was on the brink of closing just a year ago.
Greater U.S. shale gas production helps deliver a drop in U.S. carbon dioxide emissions
Americans have seen numerous benefits flow from increased production of natural gas from shale and other unconventional sources – from more jobs to greater revenue and economic activity. But the benefits of shale gas development are not only economic – they are environmental as well, as findings from the International Energy Agency confirm. According to the IEA, greater use of natural gas instead of coal in the United States has contributed to a significant drop in overall U.S. carbon dioxide emissions.
