EIA Projects Continued Growth in U.S. Energy Production
The federal Energy Information Administration (EIA) released its annual energy outlook yesterday, forecasting the nation’s energy supply and demand. EIA’s projections showed continued growth in U.S. energy production that exceeds growth in U.S. energy consumption through 2040. The report highlights a continued trend in increased domestic energy production and reduced imports, signaling the possibility of energy independence.
According to the report, U.S. crude production will continue to increase dramatically over the next decade because of new shale and tight oil discoveries, with production reaching up...
NAM STUDY: EPA Regulations Will Drive Up Manufacturing Costs, Cripple Economic Recovery
WASHINGTON, DC – A new study released this week by the National Association of Manufacturers finds major new EPA rules could cost manufacturers hundreds of billions of dollars and eliminate millions of American jobs. The study examines the cumulative impact of EPA’s new layers of red tape that are burdening job creators with high costs and driving up energy prices. The authors warn EPA’s actions will prohibit job creation and investment and could cripple our economic recovery.
The report analyzes the cumulative cost of new major...
U.S. to Become World’s Top Energy Producer
The International Energy Agency (IEA) yesterday released its annual World Energy Outlook, outlining a dramatic shift in global energy markets driven by increased oil and gas production in the United States. According to IEA, "North America is at the forefront of a sweeping transformation in oil and gas production that will affect all regions of the world."
The report forecasts the U.S. will become the world’s largest oil producer before 2020. While the U.S. currently imports approximately half the petroleum fuel it consumes, IEA...
The Pathway to North American Energy Independence
Energy policies and prices are moving in the wrong direction. For example, oil and gas production on federal lands are down, and the national average price of regular gasoline is currently $3.76 per gallon – that’s more than double what prices were when President Obama took office. Prices near $4.00 are becoming the "new normal" at gas stations across the country. President Obama continues to tell us, "We can’t drill our way out of this problem," and he downplays America's tremendous energy potential with a misleading...