Oil and the U.S. Economy: Does Shale Change the Picture?

Size: px
Start display at page:

Download "Oil and the U.S. Economy: Does Shale Change the Picture?"

Transcription

1 Oil and the U.S. Economy: Does Shale Change the Picture? Mine Yücel Federal Reserve Bank of Dallas

2 Increased energy production from shale Oil Global market Will not necessarily protect from oil price shocks or price volatility May not lower prices for consumers (depends on OPEC s reaction) Lower trade balance Increase regional growth and employment Decrease vulnerability oil supply shocks Natural Gas Domestic market Higher output lowers prices

3 Million barrels per day, SA 12 U.S. Oil and Gas Production Trillion cubic feet, SA Est Crude Oil Natural Gas

4 Surge in shale resources Shale Play Technically Recoverable Resources Oil (Billion barrels) Gas (TCF) Monterey/Santos 14 - West Coast Total 14 - Haynesville - 66 Eagle Ford 2 50 Gulf Coast Total Fayetteville - 13 Woodford - 22 Mid-Continent Total - 38 Barnett - 43 Barnett-Woodford - 32 Southwest Total 3 76 Bakken 5 - Niobrara 7 - Rocky Mountain Total 12 - Marcellus Northeast Total TOTAL

5 Surge in shale resources Shale Play Technically Recoverable Resources Oil (Billion barrels) Gas (TCF) Monterey/Santos 14 - West Coast Total 14 - Haynesville - 66 Eagle Ford 2 50 Gulf Coast Total Fayetteville - 13 Woodford - 22 Mid-Continent Total - 38 Barnett - 43 Barnett-Woodford - 32 Southwest Total 3 76 Bakken 5 - Niobrara 7 - Rocky Mountain Total 12 - Marcellus Northeast Total TOTAL

6 Non-OPEC Output: A Changing of The Guard Thousands of barrels per day 2,000 Forecasted 2016 Output 2010 Actual Output 1,500 1, ,000 U.S. Brazil Canada Non-OPEC NGL Norway UK Mexico

7 Increased oil and gas output: what does it mean for the U.S. economy? National/international effects Trade balance Dollar State and local effects Employment and income growth State fiscal effects Texas example

8 Index, 1982=100 Oil Price Shocks and Recessions

9 Percent 20 Petroleum as a share of goods imports Petroleum Imports

10 Trade Deficit and Imports in Sync with Oil Prices Index, 2000= 100 Avg. $/barrel Trade Balance Total Imports WTI

11 Crude Production and Imports M il. barrles/day Crude Imports 6 4 Crude Production

12 Trade Balance Issues Lower oil imports reduce transfers to oil exporting countries. But some of these petrodollars are recycled back into the U.S. Two issues: How much of the petrodollars are recycled back? Do domestic and foreign producers spend their revenues in the same way?

13 Index, 1997= Oil Prices and the Dollar Dollarsper barrel WTI Spot Price Trade Weighted Value of the Dollar

14 Regional Effects Increased energy activity brings oil and gas extraction and oil-field support jobs Local areas: lease and royalty payments, infrastructure construction and increased spending on retail, leisure and hospitality, and health services. Local governments: greater sales taxes State governments: increased severance tax revenues

15 State Employment Shares Percentage of nonagricultural employment 6 Alaska Louisiana New M exico North Dakota 5 Oklahoma Texas Wyoming Oil & gas extraction Refining Petrochemicals Oil field equipment Oil & gas support activities

16 State Oil Production

17 Shale oil and employment growth yearly growth rates U.S. Annual Average Growth -0.15

18 Energy sector wages high Dollars Estimate Share of Oil & Gas Extraction Share of Oil & Gas Support

19 Temporary housing in Eagle Ford

20 Texas employment follows oil prices

21 Summary Increased U.S. oil production will Lower trade balance Increase regional growth and employment Decrease vulnerability oil supply shocks Will not necessarily protect from oil price shocks or price volatility May not lower prices for consumers (depends on OPEC s reaction) Not energy independent, but more energy secure

22 Oil and the U.S. Economy: Does Shale Change the Picture? Mine Yücel Federal Reserve Bank of Dallas

23 Employment and Total Wages Have Accelerated in Eagle Ford Counties Total Wages Total Employment Total Wages Paid Total Jobs Source: Texas Railroad Commission

24 North American shale oil breakeven prices ($/bbl) Utica Shale 68 Anadarko tight oil 64 Alberta Bakken 55 Cardium Shale 51 Niobrara Shale 51 Eagle Ford Shale 50 Permian M idland 50 Permian Delaware 44 Bakken Shale

25 Natural Gas Marketed Production* *Monthly average for 2010 except for AK, LA, NM, OK, TX, and WY which is production for July 2012.

26 Higher Oil Prices and State Economies Helped Hurt

U.S. Energy Outlook. Oil and Gas Strategies Summit May 21, 2014 New York, NY. By Adam Sieminski, EIA Administrator

U.S. Energy Outlook. Oil and Gas Strategies Summit May 21, 2014 New York, NY. By Adam Sieminski, EIA Administrator U.S. Energy Outlook May 21, 214 New York, NY By Adam Sieminski, EIA Administrator U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov The U.S. has experienced a rapid increase

More information

Shale Gas: Its Not Just in North America Anymore

Shale Gas: Its Not Just in North America Anymore Shale Gas: Its Not Just in North America Anymore John Veil 410-212-0950 john@veilenvironmental.com www.veilenvironmental.com GWPC Annual Forum Atlanta, GA September 25-28, 2011 Topics for Discussion Importance

More information

Local government fiscal impacts of oil and gas development

Local government fiscal impacts of oil and gas development Shale Public Finance Local government fiscal impacts of oil and gas development Richard Newell, Gendell Professor of Energy and Environmental Economics, Nicholas School of the Environment Daniel Raimi,

More information

Battle for Henry Hub

Battle for Henry Hub Copyright 2014 RBN Energy and BTU Analytics Battle for Henry Hub Natural Gas Oversupply - Ominous Implications for Henry Hub Pricing Figure 1 - The Battle An onslaught of surplus natural gas supply is

More information

Gas/NGL Developments from Western Canada to the US Midwest

Gas/NGL Developments from Western Canada to the US Midwest Gas/NGL Developments from Western Canada to the US Midwest Purvin & Gertz International LPG Seminar March 7, 2012 Tim Stauft, President Aux Sable Canada About Alliance/Aux Sable Alliance is a 1.6 bcf/d

More information

The Growth of U.S. Natural Gas: An Uncertain Outlook for U.S. and World Supply

The Growth of U.S. Natural Gas: An Uncertain Outlook for U.S. and World Supply The Growth of U.S. Natural Gas: An Uncertain Outlook for U.S. and World Supply For 2015 EIA Energy Conference Washington, D.C. By John Staub, Team Lead, Exploration and Production Analysis U.S. Energy

More information

North American Natural Gas Midstream Infrastructure Through 2035: A Secure Energy Future

North American Natural Gas Midstream Infrastructure Through 2035: A Secure Energy Future North American Natural Gas Midstream Infrastructure Through 2035: A Secure Energy Future Updated Supply Demand Outlook Background Executive Summary June 28, 2011 Sufficient midstream natural gas infrastructure,

More information

Moving Crude Oil by Rail

Moving Crude Oil by Rail Moving Crude Oil by Rail Association of American Railroads December 2013 Summary Technological advances, along with relatively high crude oil prices, have led to sharply higher U.S. crude oil production.

More information

U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Proved Reserves, 2010

U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Proved Reserves, 2010 U.S. Crude Oil, Natural Gas, and Natural Gas Liquids Proved Reserves, 2010 August 2012 Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared

More information

Falling Oil Prices and US Economic Activity: Implications for the Future

Falling Oil Prices and US Economic Activity: Implications for the Future Date Issue Brief # I S S U E B R I E F Falling Oil Prices and US Economic Activity: Implications for the Future Stephen P.A. Brown December 2014 Issue Brief 14-06 Resources for the Future Resources for

More information

USAEE Meeting. Houston, TX. Presented by: George Lippman President of Lippman Consulting, Inc. (915) 838-1619

USAEE Meeting. Houston, TX. Presented by: George Lippman President of Lippman Consulting, Inc. (915) 838-1619 USAEE Meeting Houston, TX April 14, 2011 Presented by: George Lippman President of (915) 838-1619 How Shales have changed U.S. Gas Supply But at what cost? Lower 48 States Production Major Shale Production

More information

North America Midstream Infrastructure through 2035: Leaning Into the Headwinds

North America Midstream Infrastructure through 2035: Leaning Into the Headwinds North America Midstream Infrastructure through 2035: Leaning Into the Headwinds Prepared by ICF International for The INGAA Foundation, Inc. Detailed Study Methodology and Results INGAA Foundation Final

More information

Tuesday, March 5, 2013 Houston, TX. 9:00 10:10 a.m. KEYNOTE ADDRESS: HYDROCARBON HAT TRICK HOW SHALE IS IMPACTING THE ECONOMY

Tuesday, March 5, 2013 Houston, TX. 9:00 10:10 a.m. KEYNOTE ADDRESS: HYDROCARBON HAT TRICK HOW SHALE IS IMPACTING THE ECONOMY Tuesday, March 5, 2013 Houston, TX 9:00 10:10 a.m. KEYNOTE ADDRESS: HYDROCARBON HAT TRICK HOW SHALE IS IMPACTING THE ECONOMY Presented by Jesse Thompson Business Economist Federal Reserve Bank of Dallas,

More information

Drilling Productivity Report

Drilling Productivity Report Independent Statistics & Analysis U.S. Energy Information Administration e 216 For key tight oil and shale gas regions Bakken Marcellus Utica Niobrara Permian Haynesville Eagle Ford The seven regions analyzed

More information

Economic Impacts o fthe Shale Revolution in North America. Mark Nelson OGIF Xian, P. R. China September 25 th, 2013

Economic Impacts o fthe Shale Revolution in North America. Mark Nelson OGIF Xian, P. R. China September 25 th, 2013 Economic Impacts o fthe Shale Revolution in North America Mark Nelson OGIF Xian, P. R. China September 25 th, 2013 Cautionary Statement The following presentation includes forward looking statements. These

More information

Oil prices have declined sharply since the summer of 2014, raising

Oil prices have declined sharply since the summer of 2014, raising What Could Lower Prices Mean for U.S. Oil Production? By Nida Çakır Melek Oil prices have declined sharply since the summer of 2014, raising questions about whether the boom in oil and gas production can

More information

Suzanne Minter. Manager, Oil and Gas Consulting BENTEK Energy. Natural Gas Outlook

Suzanne Minter. Manager, Oil and Gas Consulting BENTEK Energy. Natural Gas Outlook Suzanne Minter Manager, Oil and Gas Consulting BENTEK Energy Natural Gas Outlook North American Natural Gas The Fertilizer Institute November, 2014 2013 Platts, McGraw Hill Financial. All rights reserved.

More information

Well productivity in the top shale gas plays has largely stalled

Well productivity in the top shale gas plays has largely stalled Four of the top seven U.S. shale gas plays have peaked The top seven shale gas plays account for 88% of current production and 88% of the EIA s forecast of cumulative production through 2040. But four

More information

Medicine Bow Project Update. Wyoming Enhanced Oil Recovery Institute

Medicine Bow Project Update. Wyoming Enhanced Oil Recovery Institute Making Material Change Medicine Bow Project Update Wyoming Enhanced Oil Recovery Institute July 2011 The Medicine Bow Project--- A New Force in Energy DKRW Advanced Fuels LLC ( AF ) is a leading developer

More information

Overview of New Mexico Taxes on Oil and Gas Production Presented to the Revenue Stabilization and Tax Policy Committee

Overview of New Mexico Taxes on Oil and Gas Production Presented to the Revenue Stabilization and Tax Policy Committee Overview of New Mexico Taxes on Oil and Gas Production Presented to the Revenue Stabilization and Tax Policy Committee Thomas Clifford PhD, Policy and Research Director N.M. Taxation and Revenue Department

More information

Hydraulic Fracturing and Environmental Issues: What to Believe?

Hydraulic Fracturing and Environmental Issues: What to Believe? Hydraulic Fracturing and Environmental Issues: What to Believe? Jean-Philippe JP Nicot Jackson School of Geosciences The University of Texas at Austin West Texas Energy Consortium 1 st Annual Conference

More information

Crude Pipeline & Rail Infrastructure Overview. Presentation For: 8 th Annual Pipeline Development & Expansion Conference September 17, 2013

Crude Pipeline & Rail Infrastructure Overview. Presentation For: 8 th Annual Pipeline Development & Expansion Conference September 17, 2013 Crude Pipeline & Rail Infrastructure Overview Presentation For: 8 th Annual Pipeline Development & Expansion Conference September 17, 2013 Agenda» New Crude Production» Pipeline Projects» Rail Developments»

More information

An Investor s Guide to Plains All American Pipeline

An Investor s Guide to Plains All American Pipeline An Investor s Guide to Plains All American Pipeline Plains All American Pipeline: A Midstream Energy MLP Plains All American Pipeline, L.P. (PAA) is a midstream energy MLP headquartered in Houston. The

More information

Produced Water Accounting and Characteristics: the Case of Hydraulic Fracturing in Texas

Produced Water Accounting and Characteristics: the Case of Hydraulic Fracturing in Texas Produced Water Accounting and Characteristics: the Case of Hydraulic Fracturing in Texas Jean-Philippe JP Nicot with Bridget Scanlon, Bob Reedy, and Ruth Costley Jackson School of Geosciences The University

More information

Praxair, Inc. Eduardo Menezes Executive Vice President & President North American Industrial Gases

Praxair, Inc. Eduardo Menezes Executive Vice President & President North American Industrial Gases Praxair, Inc. Eduardo Menezes Executive Vice President & President North American Industrial Gases Oppenheimer & Co. 7 th Annual Industrials Conference May 16, 2012 Forward Looking Statement This document

More information

Main Street. Economic information. By Chad Wilkerson, Vice President and Oklahoma City Branch Executive, and Nida Cakir Melek, Economist

Main Street. Economic information. By Chad Wilkerson, Vice President and Oklahoma City Branch Executive, and Nida Cakir Melek, Economist THE Main Street ECONOMIST: ECONOMIST Economic information Agricultural for the and Cornhusker Rural Analysis State S e Issue p t e m b1, e r 2014 2 0 1 0 Feed de er ra al l RR e es se er rv ve e BBa an

More information

Son of a Beast Utica Triggers Regional Role Reversal

Son of a Beast Utica Triggers Regional Role Reversal Son of a Beast Utica Triggers Regional Role Reversal KEYTAKEAWAYS Son of a Beast Utica Triggers Regional Role Reversal Overview only. Contact BENTEK to subscribe. For more information about BENTEK s industry-leading

More information

Current and Future Economic Impacts of the Texas Oil and Gas Pipeline Industry

Current and Future Economic Impacts of the Texas Oil and Gas Pipeline Industry Jerry S. Rawls College of Business and Bob L. Herd Department of Petroleum Engineering Current and Future Economic Impacts of the Texas Oil and Gas Pipeline Industry EXECUTIVE SUMMARY 1 Report Prepared

More information

Texas: An Energy and Economic Analysis

Texas: An Energy and Economic Analysis Texas: An Energy and Economic Analysis Posted on 9/30/2013 Texas leads the nation in oil and natural gas reserves and production. In just over 2 years, Texas has doubled its oil production with large quantities

More information

Canada, Mexico and the United States:

Canada, Mexico and the United States: Canada, Mexico and the United States: Energy Competitors or Collaborators? Mexico s current challenges for remaining a major energy partner in North America Isidro Morales Director EGAP, Gobierno y Política

More information

Effective Tax Rates of Oil and Gas Companies: Cashing in on Special Treatment

Effective Tax Rates of Oil and Gas Companies: Cashing in on Special Treatment Effective Tax Rates of Oil and Gas Companies: Cashing in on Special Treatment July 2014 Table of Contents Results in Brief.. 3 Discussion. 4 Conclusion 6 Notes 6 U.S. Federal Effective Tax Rates, 2009-2013

More information

CEE Midstream/Downstream Review Do we WANT it?

CEE Midstream/Downstream Review Do we WANT it? CEE Midstream/Downstream Review Do we WANT it? CEE-BEG-UT, 1 Industrial Demand Inventory 107 projects, $75 billion, mainly in the Gulf Coast region Segment $ million Fractionation (28) 6,208 Ethylene (15;

More information

Outlook for the North American and Ontario Natural Gas Markets

Outlook for the North American and Ontario Natural Gas Markets Outlook for the North American and Ontario Natural Gas Markets Union Gas Customer Meeting London, Ontario June 2016 Presented by: Mike Sloan ICF International Michael.Sloan@ICFI.COM 703.218.2758 Contents

More information

Outlook for Oil and Natural Gas Markets

Outlook for Oil and Natural Gas Markets Outlook for Oil and Natural Gas Markets Helen Currie, PhD Senior Economist Legislative Finance Committee State of New Mexico 09-July-2014 Farmington, New Mexico Cautionary Statement The following presentation

More information

Shale Gas A Game Changer

Shale Gas A Game Changer Shale Gas A Game Changer CWC World LNG Series: America Summit, Hilde Nafstad, President, Statoil Natural Gas LLC March 17, 2010 Forward looking statements This Operating and Financial Review contains certain

More information

The Global Economic Impacts of Oil Price Shocks

The Global Economic Impacts of Oil Price Shocks The Global Economic Impacts of Oil Price Shocks Presented to: Project LINK, United Nations New York, NY November 22, 2004 Presented by: Sara Johnson Managing Director, Global Macroeconomics Group 781-301-9115

More information

Royalty and Lease Payments: Local Economic Implications from Energy Contracts

Royalty and Lease Payments: Local Economic Implications from Energy Contracts Royalty and Lease Payments: Local Economic Implications from Energy Contracts Energizing the U.S. Economy: Rural America at the Epicenter of America s Future October 29, 2015 Jason Brown Senior Economist

More information

Economic Assessment of Oil & Gas Tax Policy In Oklahoma

Economic Assessment of Oil & Gas Tax Policy In Oklahoma R E S E A R C H F O U N D A T I O N R E P O R T Economic Assessment of Oil & Gas Tax Policy In Oklahoma January 2014 RegionTrack, Inc. (regiontrack.com) is an Oklahoma City-based economic research firm

More information

Impact of oil & gas production tax credits at low oil prices

Impact of oil & gas production tax credits at low oil prices Impact of oil & gas production tax credits at low oil prices Presentation to Senate Finance Committee Juneau, Alaska Tuesday, January 27, 2015 Janak Mayer, Partner janak.mayer@.com Nikos Tsafos, Partner

More information

Annual Energy Outlook 2015

Annual Energy Outlook 2015 For Columbia University New York, NY By Adam Sieminski U.S. Energy Information Administration U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov Key results from (AEO215)

More information

Unconventional oil and gas: outlook, risks, and potential

Unconventional oil and gas: outlook, risks, and potential 20140519_SBC_International Energy Forum - Paper_v05 Unconventional oil and gas: outlook, risks, and potential May 2014 Moscow Table of Contents KEY INSIGHTS... 2 1. UNCONVENTIONAL RESOURCES ARE SIZEABLE

More information

OIL AND GAS TAXATION COMPARISON

OIL AND GAS TAXATION COMPARISON OIL AND GAS TAXATION COMPARISON ANALYSIS OF SEVERANCE, PRODUCTION AND AD VALOREM TAXES IN NORTH DAKOTA AND OTHER OIL PRODUCING STATES DECEMBER, 2012 BISMARCK, NORTH DAKOTA Table of Contents Page Introduction

More information

Economic Update as of June 30, 2016

Economic Update as of June 30, 2016 MACRO Report: Review of Wyoming s Economy Economic Update as of June 30, The MACRO Report is a quarterly publication comprised of charts focusing on energy, employment, state revenues, and other indicators

More information

Global Oil and Gas Capital Expenditure Outlook 2010: National Oil Companies (NOCs) to Drive Investment

Global Oil and Gas Capital Expenditure Outlook 2010: National Oil Companies (NOCs) to Drive Investment Global Oil and Gas Capital Expenditure Outlook 21: GlobalData s new report Global Oil and Gas Capital Expenditure Outlook 21: National Oil Companies (NOCs) to Drive Investment provides in-depth analysis

More information

US Ethane and Ethylene Exports & Markets Report

US Ethane and Ethylene Exports & Markets Report US Ethane and Ethylene Exports & Markets Report Introduction With the development of shale gas and oil the U.S. production landscape has experienced a dramatic shift over the last 5 years. There has been

More information

H.R. 702 A bill to adapt to changing crude oil market conditions

H.R. 702 A bill to adapt to changing crude oil market conditions CONGRESSIONAL BUDGET OFFICE COST ESTIMATE September 29, 2015 H.R. 702 A bill to adapt to changing crude oil market conditions As reported by the House Committee on Energy and Commerce on September 25,

More information

Wyoming s Economy Today and Beyond

Wyoming s Economy Today and Beyond Wyoming s Economy Today and Beyond Presented by: Buck McVeigh Economic Analysis Division Wyoming State Government Current Economic Conditions Favorable: Energy: production and prices State revenues: primarily

More information

The Economic Impact of the Natural Gas Industry in West Virginia August 21, 2008

The Economic Impact of the Natural Gas Industry in West Virginia August 21, 2008 The Economic Impact of the Natural Gas Industry in West Virginia August 21, 2008 FINAL REPORT Prepared for: West Virginia Oil & Natural Gas Association Independent Oil & Gas Association of West Virginia

More information

HOW EXPANDING U.S. CRUDE EXPORTS CAN MEAN CHEAPER GAS FOR AMERICANS

HOW EXPANDING U.S. CRUDE EXPORTS CAN MEAN CHEAPER GAS FOR AMERICANS HOW EXPANDING U.S. CRUDE EXPORTS CAN MEAN CHEAPER GAS FOR AMERICANS BY DAN EBERHART, CEO, CANARY, LLC CANARYUSA.COM WELLHEADS FRAC EQUIPMENT PRODUCTION SERVICES MANUFACTURING HOW EXPANDING U.S. CRUDE EXPORTS

More information

The Outlook For Pipeline Construction

The Outlook For Pipeline Construction The Outlook For Pipeline Construction April 25, 2013 National Association of Pipe Coating Applicators Rich Hoffmann Executive Director The INGAA Foundation, Inc. EXCELLENT SUPPLY DEMAND COMPETITION CONSTRUCTION

More information

The Economic Benefits of Oil and Natural Gas Production: An Analysis of Effects on the United States and Major Energy Producing States

The Economic Benefits of Oil and Natural Gas Production: An Analysis of Effects on the United States and Major Energy Producing States August 2014 The Economic Benefits of Oil and Natural Gas Production: An Analysis of Effects on the United States and Major Energy Producing States THE PERRYMAN GROUP 510 N. Valley Mills Dr. Suite 300 Waco,

More information

RECOMMENDED STANDARDS AND PRACTICES FOR EXPLORATION AND PRODUCTION OF NATURAL GAS AND

RECOMMENDED STANDARDS AND PRACTICES FOR EXPLORATION AND PRODUCTION OF NATURAL GAS AND CONSORTIUM OF ENERGY PRODUCERS ANNOUNCES RECOMMENDED STANDARDS AND PRACTICES FOR EXPLORATION AND PRODUCTION OF NATURAL GAS AND OIL FROM APPALACHIAN SHALES MAY 1, 2012 The Appalachian Shale Recommended

More information

During early summer of 2014, oil prices exceeded $100 per barrel,

During early summer of 2014, oil prices exceeded $100 per barrel, The Response of Employment to Changes in Oil and Gas Exploration and Drilling By Jason P. Brown During early summer of 2014, oil prices exceeded $100 per barrel, and many industry analysts expected prices

More information

U.S. oil and gas export scenario s: What are the opportunities for Vopak?

U.S. oil and gas export scenario s: What are the opportunities for Vopak? U.S. oil and gas export scenario s: What are the opportunities for Vopak? Capital Markets Day, 10 December 2013 Dick Richelle, Division President Americas Forward-looking statements This presentation contains

More information

North American Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance. An INGAA Foundation Report, Prepared by ICF International

North American Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance. An INGAA Foundation Report, Prepared by ICF International North American Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance An INGAA Foundation Report, Prepared by ICF International Executive Summary March 18, 2014 Background Since the

More information

Comparison of State Severance Taxes on Oil and Gas Utah and Selected Oil and Gas Producing States

Comparison of State Severance Taxes on Oil and Gas Utah and Selected Oil and Gas Producing States Comparison of State Severance es on Oil and Gas Utah and Selected Oil and Gas Producing States Prepared for Utah Review Commission April 22, 2005 Draft State Oil Natural Gas Conservation Fee or Alaska

More information

Think About Energy Summit

Think About Energy Summit Think About Energy Summit Richard Wobbekind Senior Associate Dean Executive Director Business Research Division Leeds School of Business Mining GDP, Employment, and Wages Share of Colorado Economy GDP

More information

2012 NATURAL GAS MARKET TRENDS

2012 NATURAL GAS MARKET TRENDS California Energy Commission STAFF REPORT 2012 NATURAL GAS MARKET TRENDS In Support of the 2012 Integrated Energy Policy Report Update CALIFORNIA ENERGY COMMISSION Edmund G. Brown Jr., Governor MAY 2012

More information

THE NEW BALANCE OF POWER IN OIL FRACKERS ARE CHALLENGING TRADITIONAL SWING PRODUCERS

THE NEW BALANCE OF POWER IN OIL FRACKERS ARE CHALLENGING TRADITIONAL SWING PRODUCERS THE NEW BALANCE OF POWER IN OIL FRACKERS ARE CHALLENGING TRADITIONAL SWING PRODUCERS Bernhard Hartmann Rob Jessen Bob Orr Robert Peterson Saji Sam Abdalla Salem el-badri, secretary general of the Organization

More information

Turning Brownfields into Clean Energy. Today s Discussion

Turning Brownfields into Clean Energy. Today s Discussion Turning Brownfields into Clean Energy NOVEMBER 18, 2009 Today s Discussion Chesapeake Energy: Who are we? Barnett Shale overview What lead us to purchase Brownfields? Making a positive impact in Fort Worth

More information

National Security and Fuel Economy. How Dependence on Oil Impacts National Security

National Security and Fuel Economy. How Dependence on Oil Impacts National Security National Security and Fuel Economy How Dependence on Oil Impacts National Security WELCOME Brigadier General Steve Cheney CEO of the American Security Project ASP is organized around the belief that honest

More information

The Economic Benefits of Natural Gas Pipeline Development on the Manufacturing Sector

The Economic Benefits of Natural Gas Pipeline Development on the Manufacturing Sector IHS ECONOMICS The Economic Benefits of Natural Gas Pipeline Development on the Manufacturing Sector Prepared for the National Association of Manufacturers May 2016 Consulting Report ECR Private Report

More information

many in the producing and investment community off guard and caused dramatic changes in producer behavior and balance sheets.

many in the producing and investment community off guard and caused dramatic changes in producer behavior and balance sheets. Testimony of Suzanne Minter Manager, Oil and Gas Consulting Platts Analytics before the U.S. Senate Energy and Natural Resources Committee Hearing to examine challenges and opportunities for oil and gas

More information

Short-Term Energy Outlook

Short-Term Energy Outlook November 2012 Short-Term Energy Outlook Hurricane Sandy resulted in the loss of electric power to about 8.5 million customers on the East Coast and the shutdown of two refineries, major petroleum distribution

More information

Oil Sands Economic Impacts Across Canada CERI Report September 2005

Oil Sands Economic Impacts Across Canada CERI Report September 2005 BACKGROUNDER Oil Sands Economic Impacts Across Canada CERI Report September 25 Oil Sands Economic Impacts Across Canada CERI Report The oil sands sector in Canada has witnessed record levels of investment

More information

Resource Evaluation & Advisory. Price forecast December 31, 2014

Resource Evaluation & Advisory. Price forecast December 31, 2014 Resource Evaluation & Advisory Price forecast December 31, 214 Contents Canadian price forecast...1 Oil differentials...4 International price forecast...5 Deferring development...6 Global outlook...7 Pricing

More information

Increasing Product Exports: It s a New Ball Game for the U.S. Platts North American Refining and Trading Conference Houston, Texas May 22, 2012

Increasing Product Exports: It s a New Ball Game for the U.S. Platts North American Refining and Trading Conference Houston, Texas May 22, 2012 Increasing Product Exports: It s a New Ball Game for the U.S. Platts North American Refining and Trading Conference Houston, Texas May 22, 2012 Baker & O Brien, Inc. All rights reserved. Overview Recent

More information

EIA s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications

EIA s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications EIA s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications November 2014 Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared

More information

A summary of regional and national economic indicators for the Tenth District states SUMMARY OF CURRENT TENTH DISTRICT ECONOMIC CONDITIONS

A summary of regional and national economic indicators for the Tenth District states SUMMARY OF CURRENT TENTH DISTRICT ECONOMIC CONDITIONS Tenth THE District ECONOMIC DATABOOK A summary of regional and national economic indicators for the states APRIL 18, 216 FEDERAL RESERVE BANK of KANSAS CITY SUMMARY OF CURRENT TENTH DISTRICT ECONOMIC CONDITIONS

More information

Analysis of Economic Obsolescence Ontario Oil Refineries 2016 BASE YEAR

Analysis of Economic Obsolescence Ontario Oil Refineries 2016 BASE YEAR Analysis of Economic Obsolescence Ontario Oil Refineries 2016 BASE YEAR June 30, 2015 CONTENTS TABLE OF CONTENTS Purpose of the Report... 2 Subject Properties... 2 The Market For Industrial Properties...

More information

U.S. Crude Oil Pricing Analysis

U.S. Crude Oil Pricing Analysis Alan Stevens, President Stancil & Co. 400 E. Las Colinas Boulevard Suite 700 Irving, Texas 75039 214.688.0255 www.stancilco.com Table of Contents I. Introduction and Summary of Findings... I-1 Historical

More information

MLP Investing: Source: U.S. Energy Information Administration, Monthly Energy Review, March 2016

MLP Investing: Source: U.S. Energy Information Administration, Monthly Energy Review, March 2016 August 2016 MLP Investing: The Impact of the Natural Gas Megatrend on Energy Infrastructure Curt Pabst, Managing Director, Eagle Global Advisors U.S. Shale Revolution Much has been made of the impact of

More information

Keeping Our Options Open: Markets for Canadian Crude and the Pipeline Dilemma

Keeping Our Options Open: Markets for Canadian Crude and the Pipeline Dilemma Keeping Our Options Open: Markets for Canadian Crude and the Pipeline Dilemma Trisha Curtis, Research Analyst Energy Policy Research Foundation, Inc. (EPRINC) CERI Oil Conference 2012 April 23 rd, 2012

More information

Energy Infrastructure Development

Energy Infrastructure Development Energy Infrastructure Development Kinder Morgan s fee-based business model applied to Mexico 1st International Congress & Exhibition on Logistics of Hydrocarbons', Petroliferous and Petrochemicals 2015

More information

A Representative Oil Field Development Sequence

A Representative Oil Field Development Sequence The CO2 Enhanced Oil Recovery Story Tim Bradley President Kinder Morgan CO2 Company Outline 1. CO2 Enhanced Oil Recovery Overview Oil Field Development Sequence US: Current and Future 2. A Deeper Look

More information

The Benefits of Natural Gas Production and Exports for U.S. Small Businesses

The Benefits of Natural Gas Production and Exports for U.S. Small Businesses The Benefits of Natural Gas Production and Exports for U.S. Small Businesses Raymond J. Keating Chief Economist Small Business & Entrepreneurship Council May 2013 www.sbecouncil.org Contents Executive

More information

The Economic Impacts of the Pennsylvania Marcellus Shale Natural Gas Play: An Update

The Economic Impacts of the Pennsylvania Marcellus Shale Natural Gas Play: An Update The Economic Impacts of the Pennsylvania Marcellus Shale Natural Gas Play: An Update Timothy J. Considine, Ph.D. Robert Watson, Ph.D., P.E. Seth Blumsack, Ph.D. May 24, 2010 The Pennsylvania State University

More information

Impact of U.S. Shale Oil Revolution on the Global Oil Market, the Price of Oil & Peak Oil

Impact of U.S. Shale Oil Revolution on the Global Oil Market, the Price of Oil & Peak Oil International Association for Energy Economics 27 Impact of U.S. Shale Oil Revolution on the Global Oil Market, the Price of Oil & Peak Oil By Mamdouh G. Salameh* Introduction Much has been written about

More information

News Release Exxon Mobil Corporation 5959 Las Colinas Boulevard Irving, TX Telephone Facsimile

News Release Exxon Mobil Corporation 5959 Las Colinas Boulevard Irving, TX Telephone Facsimile News Release 5959 Las Colinas Boulevard Irving, TX 75039 972 444 1107 Telephone 972 444 1138 Facsimile FOR IMMEDIATE RELEASE FRIDAY, JULY 29, 2016 ExxonMobil Earns $1.7 Billion in Second Quarter of 2016

More information

Douglas K. Eyberg. Chair, Energy, Partner, Corporate. Experience

Douglas K. Eyberg. Chair, Energy, Partner, Corporate. Experience Douglas K. Eyberg Chair, Energy, Partner, Corporate Doug Eyberg, head of Gardere's energy team and a member of Gardere's board of directors, combines a broad corporate/securities and M&A background with

More information

ENERGY WORKS. For America. September 2016 OUR ENERGY FOUNDATION. America s Oil and Natural Gas Industry

ENERGY WORKS. For America. September 2016 OUR ENERGY FOUNDATION. America s Oil and Natural Gas Industry America s Oil and Natural Gas Industry ENERGY WORKS For America environmental improvements helping contribute to cleaner air. These technological advances have moved us from an era of energy scarcity to

More information

The Status of Colorado s Oil and Gas Industry: Activity Continues to Reflect Colorado s Overall Share of Nation s Fossil Fuel Reserves

The Status of Colorado s Oil and Gas Industry: Activity Continues to Reflect Colorado s Overall Share of Nation s Fossil Fuel Reserves The Status of Colorado s Oil and Gas Industry: Activity Continues to Reflect Colorado s Overall Share of Nation s Fossil Fuel Reserves June 2012 Introduction Oil and natural gas extraction in Colorado

More information

Oil & Gas Market Outlook. 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016

Oil & Gas Market Outlook. 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016 Oil & Gas Market Outlook 6 th Norwegian Finance Day Marianne Kah, Chief Economist March 2, 2016 Challenging Market Environment Concerns that global economic growth will slow and reduce global oil and natural

More information

Plains All American Pipeline, L.P. Analysis Across the Oil and Gas Value Chain Report

Plains All American Pipeline, L.P. Analysis Across the Oil and Gas Value Chain Report Plains All American Pipeline, L.P. Analysis Across the Oil and Gas Value Chain Report Plains All American Pipeline, L.P. Analysis Across the Oil and Gas Value Chain Report Sector Publishing Intelligence

More information

2015 MAPA Asphalt Conference Asphalt/Binder Update. Randy Canfield Ergon Asphalt & Emulsions Kansas City, KS

2015 MAPA Asphalt Conference Asphalt/Binder Update. Randy Canfield Ergon Asphalt & Emulsions Kansas City, KS 2015 MAPA Asphalt Conference Asphalt/Binder Update Randy Canfield Ergon Asphalt & Emulsions Kansas City, KS Welcome to MO Asphalt Conference Next Stop Types of Asphalt Trinidad Lake Pen Graded 60/70, 120/150,

More information

A Case for Midstream Energy

A Case for Midstream Energy Case Studies March 2014 Listed Infrastructure: A Case for Midstream Energy Case Studies is a Cohen & Steers series that evaluates compelling investment themes in our various sectors of expertise. This

More information

News Release. Devon Energy Reports Second-Quarter 2014 Results. 405 552 3693 405 552 4735 405 552 4782 Media Contact Chip Minty 405 228 8647

News Release. Devon Energy Reports Second-Quarter 2014 Results. 405 552 3693 405 552 4735 405 552 4782 Media Contact Chip Minty 405 228 8647 Devon Energy Corporation 333 West Sheridan Avenue Oklahoma City, OK 73102-5015 News Release Investor Contacts Howard Thill Scott Coody Shea Snyder 405 552 3693 405 552 4735 405 552 4782 Media Contact Chip

More information

14 th U.S. China Oil & Gas Industry Forum

14 th U.S. China Oil & Gas Industry Forum 14 th U.S. China Oil & Gas Industry Forum Shaolin Li PetroChina International (America) Inc. 1 Outline U.S. Energy Industry Changes and Trends U.S. LNG Export Outlook and Policy Issues China Natural Gas

More information

Petrochemicals & Appalachia

Petrochemicals & Appalachia Petrochemicals & Appalachia Penn State Natural Gas Utilization Conference October 15, 2014 2 Marcellus Shale A Game Changer 3 489 tcf of technically recoverable gas (2009 T. Engelder) Largest Unconventional

More information

Short-Term Energy Outlook Market Prices and Uncertainty Report

Short-Term Energy Outlook Market Prices and Uncertainty Report July 2014 Short-Term Energy Outlook Market Prices and Uncertainty Report Crude Oil Prices: After an upward move in mid-june, crude oil prices retreated close to previous levels. The North Sea Brent front

More information

February 29, 2016 Price Forecast Commentary

February 29, 2016 Price Forecast Commentary February 29, 2016 Price Forecast Commentary Sproule s short-term outlook for oil and gas prices is based on information obtained from various sources, including government agencies, industry publications,

More information

Crude Behavior: How Lifting the Export Ban Reduces Gasoline Prices in the United States

Crude Behavior: How Lifting the Export Ban Reduces Gasoline Prices in the United States Date Issue Brief # I S S U E B R I E F Crude Behavior: How Lifting the Export Ban Reduces Gasoline Prices in the United States Stephen P.A. Brown, Charles Mason, Alan Krupnick, and Jan Mares February 2014;

More information

IMPACT OF SHALE TECHNOLOGY ON HOUSTON REAL ESTATE

IMPACT OF SHALE TECHNOLOGY ON HOUSTON REAL ESTATE IMPACT OF SHALE TECHNOLOGY ON HOUSTON REAL ESTATE Prepared for: Modern Green Development Co., Ltd. and Canadian Community Service Association June 21, 2013 Mining, Finance and Real Estate Forum Vancouver,

More information

Sabal Trail Transmission, LLC

Sabal Trail Transmission, LLC FGU 2014 ANNUAL MEETING JUNE 25, 2014 Sabal Trail Transmission, LLC Connecting diverse natural gas supplies to southeast markets Josh Browning Changing Natural Gas Flows Value of capacity increases with

More information

Natural Gas Year-In-Review 2006

Natural Gas Year-In-Review 2006 Natural Gas Year-In-Review 2 This report provides an overview of the natural gas industry and markets in 2 with special focus on the first complete set of supply and disposition data for 2 from the Energy

More information

An Update on Gasoline Prices and Oil Supply & Demand Trends

An Update on Gasoline Prices and Oil Supply & Demand Trends An Update on Gasoline Prices and Oil Supply & Demand Trends April 4, 2012 Howard Gruenspecht - Acting Administrator U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov

More information

CBRE CLARION SECURITIES MASTER LIMITED PARTNERSHIPS: GLOBALIZATION OF ENERGY MARKETS LEADING TO SECULAR GROWTH

CBRE CLARION SECURITIES MASTER LIMITED PARTNERSHIPS: GLOBALIZATION OF ENERGY MARKETS LEADING TO SECULAR GROWTH CBRE CLARION SECURITIES MASTER LIMITED PARTNERSHIPS: GLOBALIZATION OF ENERGY MARKETS LEADING TO SECULAR GROWTH MAY 2014 201 King of Prussia Road, Suite 600 Radnor, PA 19087 USA T. 610.995.2500 www.cbreclarion.com

More information

Presentation to the Angola Field Group at the Viking Club Luanda - Angola February 5, 2015. Tako Koning, Senior Petroleum Geologist

Presentation to the Angola Field Group at the Viking Club Luanda - Angola February 5, 2015. Tako Koning, Senior Petroleum Geologist Fracking for Oil in the USA and its Impact on Angola s Economy Presentation to the Angola Field Group at the Viking Club Luanda - Angola February 5, 2015 Tako Koning, Senior Petroleum Geologist The presenter:

More information

Black Wax Workshop Crude Oil Transportation April 12, 2012"

Black Wax Workshop Crude Oil Transportation April 12, 2012 Mike Miller Vice President Commercial Development Email: mikem@savageservices.com Website: www.savageservices.com Black Wax Workshop Crude Oil Transportation April 12, 2012" Discussion Points" Conventional

More information

Natural Gas Markets in 2006

Natural Gas Markets in 2006 Order Code RL33714 Natural Gas Markets in 2006 Updated December 12, 2006 Robert Pirog Specialist in Energy Economics and Policy Resources, Science, and Industry Division Natural Gas Markets in 2006 Summary

More information