According to the U.S. Energy Information Administration (EIA), total net U.S. energy imports declined last year. They are at the lowest level in more than 20 years, as a result of growth in domestic oil and natural gas production and increased exports of finished petroleum products. The combination of a large drop in energy imports and a smaller increase in exports led to a 19% decrease in net energy imports from 2012 to 2013.
In the News
Colorado produced nearly 63.2 million barrels of crude oil in 2013, a new state record for the booming energy industry. That represents a 28% jump from 2012, when the oil and gas wells produced only 49.3 million barrels, according to the Colorado Oil and Gas Conservation Commission (COGCC), which oversees the multi-billion dollar industry.
According to Pew Research’s annual survey, many Americans consider improving the job market situation to be of utmost priority. Unfortunately, in most industries a major improvement has not occurred and January’s employment numbers were even lower than predicted. Total U.S. non-farm employment rose just 0.1 percent from December 2013 to January 2014 and has only grown 1.7 percent in the last year.
The Annual Liquid Pipeline Safety Performance Report & Strategic Plan was recently released by the Association of Oil Pipe Lines (AOPL) and the American Petroleum Institute (API). The report provides facts and figures about pipelines, their performance, pipeline operators and more. Here are some key takeaways:
In the first part of 2014, the U.S. will become the world’s number one producer of natural gas. We are also expected to be the number one country in oil output, according to the U.S. Energy Information Administration.
This means the country is on the verge of energy superpower stats. The following video highlights these points:
API Chief Economist John Felmy briefed reporters last week on the winter energy economic outlook. Here were his top points:
Although recent gasoline prices have increased due to higher U.S. demand and an increase in world crude oil prices, the U.S. Energy Information Administration (EIA) expects diesel and gasoline prices to hold steady throughout the first half of 2014.
The U.S. Energy Information Administration (EIA) recently presented a new drilling productivity report and the results are very positive. Here are some main highlights:
Historic flooding in northeastern Colorado has claimed at least six lives and disrupted thousands more. This flooding caused oil and natural gas operators, in the energy-rich part of the state, to shut down wells while taking other measures as required under the federal Clean Water Act (CWA). Highlights: