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Author: Paul W Parfomak Publisher: ISBN: 9781542931915 Category : Languages : en Pages :
Book Description
The United States, Canada, and Mexico in many ways comprise one large, integrated market for energy commodities. Canada, for example, is the single largest foreign supplier of crude oil to the United States, and the United States is Canada's sole crude oil customer. Both Mexico and Canada are major buyers of petroleum products refined in the United States. A growing trade in natural gas produced in the United States is also increasingly important to the energy relationship among the three countries. Trade in the other energy commodities - electricity, natural gas liquids, and coal - is comparatively small, but regionally important. Altogether, the value of the energy trade between the United States and its North American neighbors exceeded $140 billion in 2015, with $100 billion in U.S. energy imports and over $40 billion in exports. The United States' energy trade relationships with Canada and Mexico are increasingly complex. They have been undergoing fundamental change in recent years - largely due to technological advancements in the petroleum and natural gas sectors creating new competition for energy supplies and new market interconnections. Consequently, while energy policies in one country have inevitably affected the others, their cross-cutting effects in the future are difficult to predict. Nonetheless, a review of the recent trade data highlights several key market developments. U.S. crude oil imports from both Canada and Mexico dominate the energy trade, but they support U.S. supplies of refined products to both those countries - by far the United States' largest energy export commodity to its two neighbors. U.S. development of shale gas resources has been substituting for Canadian natural gas imports and driving a rapid increase in natural gas exports to Mexico, where such supplies are in high demand to fuel that country's growing electric power sector. Canada and, to a lesser extent, Mexico have potential to provide significant future supplies of renewable electricity to U.S. markets, which could help the United States meet environmental policy objectives. The expansion of cross-border energy transportation infrastructure - pipelines for oil and natural gas, and transmission lines for electricity - has been an ongoing enabler of increased energy trade. A number of new projects are currently under construction or proposed to further expand cross-border capacity, but their completion is not assured. To date, Congress has favored a growing North American energy partnership - but ensuring that this partnership continues to be as mutually beneficial as possible will likely remain a key oversight challenge for the next decades. Congress has been facing important policy questions in the U.S.-Canada and U.S.-Mexico energy contexts on several fronts, including the siting of major cross-border pipelines, increasing petroleum supplies from Canadian oil sands, exporting natural gas production from United States' shales, and meeting commitments to increase renewable energy supplies and reduce atmospheric emissions of greenhouse gases. Legislative proposals in the 115th Congress could directly influence these developments.
Author: Paul W Parfomak Publisher: ISBN: 9781542931915 Category : Languages : en Pages :
Book Description
The United States, Canada, and Mexico in many ways comprise one large, integrated market for energy commodities. Canada, for example, is the single largest foreign supplier of crude oil to the United States, and the United States is Canada's sole crude oil customer. Both Mexico and Canada are major buyers of petroleum products refined in the United States. A growing trade in natural gas produced in the United States is also increasingly important to the energy relationship among the three countries. Trade in the other energy commodities - electricity, natural gas liquids, and coal - is comparatively small, but regionally important. Altogether, the value of the energy trade between the United States and its North American neighbors exceeded $140 billion in 2015, with $100 billion in U.S. energy imports and over $40 billion in exports. The United States' energy trade relationships with Canada and Mexico are increasingly complex. They have been undergoing fundamental change in recent years - largely due to technological advancements in the petroleum and natural gas sectors creating new competition for energy supplies and new market interconnections. Consequently, while energy policies in one country have inevitably affected the others, their cross-cutting effects in the future are difficult to predict. Nonetheless, a review of the recent trade data highlights several key market developments. U.S. crude oil imports from both Canada and Mexico dominate the energy trade, but they support U.S. supplies of refined products to both those countries - by far the United States' largest energy export commodity to its two neighbors. U.S. development of shale gas resources has been substituting for Canadian natural gas imports and driving a rapid increase in natural gas exports to Mexico, where such supplies are in high demand to fuel that country's growing electric power sector. Canada and, to a lesser extent, Mexico have potential to provide significant future supplies of renewable electricity to U.S. markets, which could help the United States meet environmental policy objectives. The expansion of cross-border energy transportation infrastructure - pipelines for oil and natural gas, and transmission lines for electricity - has been an ongoing enabler of increased energy trade. A number of new projects are currently under construction or proposed to further expand cross-border capacity, but their completion is not assured. To date, Congress has favored a growing North American energy partnership - but ensuring that this partnership continues to be as mutually beneficial as possible will likely remain a key oversight challenge for the next decades. Congress has been facing important policy questions in the U.S.-Canada and U.S.-Mexico energy contexts on several fronts, including the siting of major cross-border pipelines, increasing petroleum supplies from Canadian oil sands, exporting natural gas production from United States' shales, and meeting commitments to increase renewable energy supplies and reduce atmospheric emissions of greenhouse gases. Legislative proposals in the 115th Congress could directly influence these developments.
Author: United States. Congress. House. Committee on Foreign Affairs. Subcommittee on Terrorism, Nonproliferation, and Trade Publisher: ISBN: Category : Energy policy Languages : en Pages : 72
Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy and Power Publisher: ISBN: Category : Energy development Languages : en Pages : 212
Author: Frank A. Verrastro Publisher: Rowman & Littlefield ISBN: 1442240717 Category : Political Science Languages : en Pages : 67
Book Description
The North American energy landscape has shifted in significant ways. New development of abundant tight oil and unconventional natural gas resources creates an historic opportunity to enhance economic growth throughout North America and improve the region’s competitiveness in global markets. The rapid pace of development of these resources, along with changes in consumption, however, have created a unique need for new and expanded infrastructure and a reevaluation of North America’s place in the global energy market. This report captures the current state of crude oil production growth and the infrastructure required and then frames the related major policy and regulatory discussions, including environmental concerns, crude oil exports, the strategic petroleum reserve, and the Jones Act.
Author: Harold Hamm Publisher: Simon and Schuster ISBN: 1637631855 Category : Biography & Autobiography Languages : en Pages : 177
Book Description
"A day doesn t go by without energy in the headlines. From banning gas stoves to prices at the pump to threats to the world s energy supplies, energy is front and center. Most of what we are hearing is high emotion, low-fact misinformation offered by folks who have no clue what they are talking about."--
Author: Neelesh Nerurkar Publisher: CreateSpace ISBN: 9781490945576 Category : Business & Economics Languages : en Pages : 40
Book Description
Over the last six years, net oil imports have fallen by 33% to average 8.4 million barrels per day (Mb/d) in 2011. This represents 45% of domestic consumption, down from 60% in 2005. Oil is a critical resource for the U.S. economy, but despite policy makers' longstanding concern, U.S. oil imports had generally increased for decades until peaking in 2005. Since then, the economic downturn and higher oil prices were a drag on oil consumption, while price-driven private investment and policy helped increase domestic supply of oil and oil alternatives. Net imports are gross imports minus exports. The decline in net imports has manifested itself as a decrease in gross imports and an increase in exports of petroleum products. Gross U.S. imports of crude oil and petroleum products averaged 11.4 Mb/d in 2011, down 17% since 2005. More than a third of gross imports came from Canada and Mexico in 2011. About 40% came from members of the Organization for the Petroleum Exporting Countries (OPEC), mostly from OPEC members outside the Persian Gulf. Regionally, the largest share of U.S. imports come into the Gulf Coast region, which holds about half of U.S. refining capacity and sends petroleum products to other parts of the country and abroad. All regions of the country import more crude than refined products except for the East Coast, where petroleum products imports may rise further due to refinery closures. U.S. oil exports, made up almost entirely of petroleum products, averaged 2.9 Mb/d in 2011. This is up from export of 1.2 Mb/d in 2005, led by growing export of distillates (diesel and related fuels) and gasoline. More than 60% of U.S. exports went to countries in the Western Hemisphere, particularly to countries such as Mexico and Canada from which the U.S. imports crude oil. Exports occur largely as a result of commercial decisions by oil market participants which reflect current oil market conditions as well as past investment in refining. As a result, net oil imports fell from a peak of 12.5 Mb/d in 2005 to 8.4 Mb/d in 2011, their lowest level since 1995. A consensus is generally emerging among energy analysts that U.S. oil imports may be past their peak, reached in 2005. Imports as a share of consumption are expected to fall further, to less than 40% after 2020 driven by tighter fuel economy standards and increased domestic supply. Despite the decline in net import volumes, the cost of net imports has increased due to rising oil prices. The aggregate national cost of oil imports is a function of the volume of oil imported and the price of that oil. The United States spent about $327 billion on net oil imports in 2011. Being a net importer of a particular good is not necessarily negative for an economy, but greater national oil import dependence can amplify the negative economic impacts of oil price increases. Oil import and export developments pose a host of policy issues. Concerns about import dependence continue to generate interest in policy options to directly discourage imports or to reduce the need for imports by increasing domestic supply and decreasing demand. Rising exports at a time of rising prices has led to calls for policies to restrict such trade. The debate around the Keystone XL pipeline involves concerns about imports, exports, and the environment. The rising cost for fuels has led to calls for release of the Strategic Petroleum Reserve, meant to provide a short term policy option in case of supply disruptions. Policy options may entail various economic, fiscal, and environmental trade-offs.
Author: United States. Congress. Senate. Committee on Foreign Relations. Subcommittee on Multilateral International Development, Multilateral Institutions, and International Economic, Energy, and Environmental Policy Publisher: ISBN: Category : Balance of trade Languages : en Pages : 0
Author: Congressional Research Service Publisher: CreateSpace ISBN: 9781507868041 Category : Political Science Languages : en Pages : 32
Book Description
As estimates for the amount of U.S. natural gas resources have grown, so have the prospects of rising U.S. natural gas exports. The United States is expected to go from a net importer of natural gas to a net exporter by 2016. With recent natural gas prices relatively low compared to global prices and historically low for the United States, producers are looking for new markets for their natural gas. Projects to export liquefied natural gas (LNG) by tanker ship have been proposed—cumulatively accounting for over 60% of current gross U.S. natural gas production. Pipeline exports, which accounted for 99% of all exports of U.S. natural gas in 2013, are also likely to continue rising. However, under the Natural Gas Act, the Department of Energy (DOE) and the Federal Energy Regulatory Commission (FERC) must authorize the export of the natural gas commodity and related facilities, respectively. This overarching federal role in the expansion of U.S. natural gas exports has been the subject of ongoing oversight and debate in Congress. What effect exporting natural gas will have on U.S. domestic prices is a central question in the debate over whether to export. A significant rise in U.S. natural gas exports would likely put upwards pressure on domestic prices, but the magnitude of any rise is uncertain. There are numerous factors that will affect prices: export volumes, economic growth, differences in local markets, and government regulations, among others. Producers contend that increased exports will not raise prices significantly as there is ample supply to meet domestic demand, and there will be the added benefits of increased revenues, trade, and jobs, and less flaring. Consumers of natural gas, who also benefit from the current low prices, fear prices will rise if natural gas is exported. The DOE's most recent price study concluded that greater LNG exports “result in higher levels of real gross domestic product (GDP), which more than offsets the adverse impact of somewhat higher energy prices.” Export opponents have been critical of DOE's conclusions. Environmental groups are split regarding natural gas use, with some favoring increased use to curb emissions of certain pollutants, while others oppose expanded use of natural gas because it is not as clean as renewable forms of energy, such as wind or solar. The use of hydraulic fracturing to produce shale gas for export markets has also raised concerns among environmental groups particularly concerned with its possible impacts on groundwater quality. The possibility of a significant increase in U.S. natural gas exports will factor into ongoing debates on the economy, energy independence, climate change, and energy security. Congressional interest has focused on the DOE's process and criteria for approving LNG commodity exports to non-free trade agreement (FTA) countries. Several bills in the 114th Congress would facilitate the approval of such permits. Both the House and Senate versions of the LNG Permitting Certainty and Transparency Act (H.R. 351 and S. 33), the Domestic Prosperity and Global Freedom Act (H.R. 89), and the Export American Natural Gas Act of 2015 (H.R. 428) would impose various deadlines on DOE export permit decisions. The American Job Creation and Strategic Alliances LNG Act (H.R. 287) would extend free trade treatment to World Trade Organization member nations with respect to LNG export permitting by DOE. The Crude Oil Export Act (H.R. 156) would repeal limitations on export of Outer Continental Shelf natural gas under the Outer Continental Shelf Lands Act (43 U.S.C. 1354). Other bills have been introduced that would affect natural gas production and infrastructure.
Author: Robert M. Lawrence Publisher: Lexington, Mass. : Lexington Books ISBN: Category : Nature Languages : en Pages : 248
Book Description
Energy interdependence: today and tomorrow; Nuclear energy exports, nonproliferation, and U.S. foreign policy; The evolution of U.S. foregn policy in energy: from alliance politics to politics-as-usual; Mexican hydrocarbon export policy; Comparative energy policies.
Author: Donald Paul Hodel Publisher: ISBN: Category : Business & Economics Languages : en Pages : 216
Book Description
The decline of the oil industry and its economic, social, and political consequences are thoroughly probed in a study of the profound changes in this industry.
Author: Paul W Parfomak
Author: Paul W Parfomak
Author: United States. Congress. House. Committee on Foreign Affairs. Subcommittee on Terrorism, Nonproliferation, and Trade
Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy and Power
Author: Frank A. Verrastro
Author: Harold Hamm
Author: Neelesh Nerurkar
Author: United States. Congress. Senate. Committee on Foreign Relations. Subcommittee on Multilateral International Development, Multilateral Institutions, and International Economic, Energy, and Environmental Policy
Author: Congressional Research Service
Author: Robert M. Lawrence
Author: Donald Paul Hodel