ICF study for LNG Allies projects potential US economic, jobs growth

The cumulative contribution to US economic growth from the addition of more LNG plants will range from $716 billion to $1.267 trillion between 2013 and 2050 under three cases, an ICF Inc. study commissioned by LNG Allies projected. It also projected 2-3.9 million job-years from US LNG plants during that period. One job for 1 year is a job-year.

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The Fracking Boom and Methane Reductions

Big Oil’s New Favorite Toy: Supercomputers

Sarah Kent and Christopher Matthews | Wall Street Journal | April 10, 2018

Xukai Shen, a geophysicist working at BP BP 0.65% Plc, had a hunch he could solve a riddle that had vexed the company: whether there was a lot of oil hidden beneath a salt dome 7,000 feet underwater in the Gulf of Mexico. So he asked to use the company’s supercomputer exclusively for two weeks to check it out.

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Report: Texas Oil Output Grew by More Than All Other States, Gulf of Mexico Combined

Texas’ average annual oil production increased by more than all other states and the Gulf of Mexico combined in 2017, a new report from the U.S. Energy Information Administration (EIA) finds.

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New Infrastructure Supports LNG Export Boom

Charles Hughes | Economics21 | April 3, 2018

Natural gas has transformed the domestic energy industry. The United States now exports more natural gas than it imports-- for the first time since 1957. While higher levels of production and the development of new sources such as the Utica and Marcellus shales have played a significant role, putting the energy transportation infrastructure in place is just as vital, as can be seen from the evolution of liquefied natural gas exports.

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Rising LNG Exports a Sign Trump Administration's Infrastructure Policies Are Paying Off: Rick Perry

Rick Perry | Cleveland.com | March 29, 2018

WASHINGTON, D.C. -- Something refreshing is happening in our nation's capital, despite the usual partisan rancor and dysfunction that plagues Washington. Federalism is making a comeback. State and local leaders are being empowered by President Donald Trump to decide how best to rebuild America's aging infrastructure.

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U.S. LNG Exports Increased 288 Percent in 2017

U.S. exports of liquefied natural gas (LNG) grew from 0.5 billion cubic feet per day (Bcf/d) in 2016 to 1.94 Bcf/d in 2017, an astounding 288 percent increase according to a new report from the U.S. Energy Information Administration (EIA). U.S. natural gas reached 25 different countries last year, according to EIA, including South Korea, China, Mexico and Middle Eastern countries such as Jordan, Kuwait and the United Arab Emirates (UAE).

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Pruitt Proposes Revisions to Air Emissions Rules for Refiners

Nick Snow | Oil & Gas Journal | March 20, 2018

US Environment Protection Agency Administrator Scott Pruitt proposed amendments to the Petroleum Refinery Sector Risk and Technology Review and the New Source Performance Standards (NSPS). The corrections will provide refiners regulatory clarity and savings of as much as $11.5 million/year in compliance costs, he said.

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Wonder how the Oil Patch impacts the world economy? Dallas Fed is trying to find out

Jeff Mosier | Dallas News | March 14, 2018

Texas oil and gas drillers aren't the only ones scrambling to dominate the energy market. The Federal Reserve Bank of Dallas continues to carve out its niche as the energy Fed.

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Link to More U.S. LNG Exports Established

Daniel J. Graeber | United Press International | March 15, 2018

March 15 (UPI) -- Improvements to a pipeline system in southern Louisiana will help with U.S. efforts to get liquefied natural gas to the market, TransCanada said.

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'Keep It In The Ground' Activists Optimistic Despite Oil Boom

Jeff Brady | NPR | March 16, 2018

The United States oil business is booming and the country could soon be the largest crude oil producer in the world. Despite this record-breaking production, climate change activists campaigning to move away from fossil fuels say they are making progress.

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More Than Half of US Oil Rigs Are in the Permian

Trevor Hawes | Midland Record Times | March 5, 2018

The U.S. hit 800 oil rigs this week, more than half of which were in the Permian Basin.

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One Texas Shale Oil Play Is Leading The U.S. To Energy Dominance

Michael Bastasch | The Daily Caller | March 5, 2018

The U.S.’s most productive shale oil formation, nestled in western Texas, is on track to double its output in the next five years, according to a new report.

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America's Oil Boom Is Fueled By A Tech Boom

Mose Buchele | KUT 90.5 | March 8, 2018

The U.S. is on track to become the world's biggest oil producer, pumping out more crude than at its peak nearly a half-century ago. For decades, few expected such a comeback, and it's all the more remarkable because the price of a barrel of oil is nowhere near what it was during the last, recent boom.

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U.S. Will Be the World’s Largest Oil Producer by 2023, Says IEA

Sarah Kent, Timothy Puko | Wall Street Journal | March 5, 2018

The U.S. is likely to overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday.

U.S. crude production is expected to reach a record of 12.1 million barrels a day in 2023, up from 10.6 million a day this year, said the International Energy Agency, which advises governments and corporations on industry trends. American oil output will surge past Russia, currently the world’s largest crude producer at roughly 11 million barrels a day.

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America Just Officially Broke Its 47-Year-Old Oil Production Record

U.S. oil production in November 2017 surpassed the all-time record of 10.044 million barrels per day (b/d) set in 1970, according to the latest data from the U.S. Energy Information Administration (EIA). EIA previously stated that production last November reached 10.038 million b/d – the first time production broke 10 million b/d since 1970 – but has now revised the numbers to 10.058 million b/d, an official record.

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Analysis: U.S. Has Already Met 2025 GHG Reduction Target Thanks To Natural Gas

Energy In Depth | February 26, 2018

A new analysis by researchers from Carnegie Mellon University (CMU) finds that the United States has already met the Clean Power Plan’s (CPP) 2025 carbon emission reduction targets “primarily due to natural gas prices and market forces,” according to co-author and CMU professor Paul Fischbeck.

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Shale Surge Boosted U.S. Production to Record High in November

Jessica Summers | Houston Chronicle | February 28, 2018

U.S. oil production reached a record high in November as the shale boom puts the nation among the world's biggest suppliers and upends global markets.

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Russian Meddling on Social Media Targeted U.S. Energy Industry, Report Says

Georgia Wells, Timothy Puko | Wall Street Journal | March 1, 2018

A Russian-backed propaganda group used social media in an attempt to disrupt the U.S. energy industry and influence energy policy, according to a new congressional staff report reviewed by The Wall Street Journal.

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Gulf Coast LNG Poised to Dominate Global Market

Katherine Blunt | Houston Chronicle | February 14, 2018

The U.S. is soon expected to become a dominant player in the global market for liquefied natural gas as Gulf Coast companies build massive terminals to serve overseas markets and the federal government considers looser regulations for small-scale exports closer to home.

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Texas Oil and Gas Contributed $30 Million Per Day in Taxes and Royalties in 2017

A new report from the Texas Oil & Gas Association (TXOGA) finds that oil and natural gas operators in Texas paid roughly $30 million per day in state and local taxes and royalties during the 2017 fiscal year. All told, oil and gas contributed $11 billion in revenue to the state and local governments – an increase of 17 percent from 2016 – thanks to record oil and gas production.  

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U.S. To Overtake Russia As Top Oil Producer by 2019 At Latest: IEA

Osamu Tsukimori | Reuters | February 26, 2018

TOKYO (Reuters) - The United States will overtake Russia as the world’s biggest oil producer by 2019 at the latest, the International Energy Agency (IEA) said on Tuesday, as the country’s shale oil boom continues to upend global markets.

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The Texas Miracle: Only Five Countries Now Produce More Oil Than The Lone Star State

Mark J. Perry | American Enterprise Institute | February 9, 2018

There are only five countries in the world that produced more crude oil in October 2017 (most recent month available for EIA international oil production statistics) than the state of Texas (data here): Russia, Saudi Arabia, Iraq, Iran, and Canada. Therefore, if Texas was considered as a separate nation, it would be the world’s sixth-largest oil producer.

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Trump Infrastructure Plan Would Speed Up Pipelines

Valerie Volcovici | Reuters | February 12, 2018

WASHINGTON - The Trump administration’s infrastructure proposal released on Monday would speed up the permitting of U.S. natural gas pipelines, including by cutting Congress out of the process for allowing them to cross national parks.

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Texas Drilling Permits, Completions Rise As Crude Prices Firm

Oil & Gas Investor | February 12, 2018

Texas oil and gas producers received 1,166 drilling permits last month, a 21% increase over year-ago levels, the state energy regulator said Feb. 9, after filings surged on the back of higher crude prices.

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