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EPRINC studies energy economics and policy issue with special emphasis on oil, natural gas and petroleum product markets. We provide objective and technical analysis on a wide range of energy issues.

Chart of the Week

Energy Trade Positively Impacts the U.S. Trade Balance

Policymakers have long been concerned with the impacts of energy imports on U.S. trade, especially beginning in the late 1950s as the country moved to negative energy trade imbalances. Despite attempting to remedy these imbalances, they exacerbated the 1970s energy shortages creating ongoing concerns of potential future vulnerabilities.

 

However, beginning in the 2000s, new extraction technologies knowing as hydrofracking were applied to shale geological formations. With innovation and enhancements these technologies have led to a resurgence of U.S. crude oil and natural gas production.

 

This resurgence is broadly visible in a variety of realms. With respect to U.S. trade, the U.S. energy trade balance began moving from a deficit to a surplus in late 2018. Where during 2010, the U.S. reported a $20-plus billion monthly deficit, which breached $30 billion in 2012, the bounty of U.S. energy production has caused the balance to rise to a current $9.5 billion surplus with the trend continuing upward

Lucian Pugliaresi participated in a panel discussion at the Energy 2017 Congress in Mexico City between January 31-Feb 2.  He outlined both the challenges and opportunities for energy trade in North America as a result of likely policy changes from the recent U.S. Presidential election. A copy of his presentation can be found here.

 

Lucian Pugliaresi, President of EPRINC, has penned a commentary on the future of the biofuel mandate.  Although the mandate continues to have bipartisan support, it also is facing rising costs as rising mandated volumes face both technical constraints and rising costs. The commentary can be found here.

EPRINC is pleased to announce that Charles K. Ebinger (Charlie to us) has joined EPRINC as a Distinguished Fellow.  Charlie brings more than 30 years experience addressing the security, political, economic, environmental and foreign policy interrelationships surrounding domestic and international energy issues. He was recently Senior Fellow and Director of Brookings’ Energy Security Initiative. We look forward to drawing on Dr. Ebinger’s extensive experience and knowledge in the entire range of domestic and international energy issues. A copy of Charlie’s bio can be found here.

Larry Goldstein and Lucian Pugliaresi comment on the proposed Border Adjustment Tax, the so-called BAT.  Larry is a  member of EPRINC’s board of trustees and its past president. Lucian Pugliaresi is President of EPRINC.  Their commentary can be found here.

Scott Pruitt, the Attorney General of Oklahoma, has been nominated by President Trump to serve as the next Administrator of the Environmental Protection Agency.  He has been characterized as both anti-science and anti-environment, but the full story is a bit more complicated.  Lucian Pugliaresi, in a recent opinion piece for “The Hill,” outlines some of the reforms needed at EPA and why Pruitt might just be the right man for the job.  A link to the op ed can be found here.
Trisha Curtis, Non Resident Fellow at EPRINC, recently authored an assessment of US shale well productivity, published by our good friends at the Oxford Institute for Energy Studies.  Improvements in shale well productivity will be the driving force behind the sustainability of the North American petroleum renaissance and Trisha’s work in this area is substantially lifting our understanding of these important trends.  You can download a copy of Trisha’s full report here.
EPRINC has published a report “Understanding California’s High Transportation Fuel Prices.”  California’s  transportation fuel specifications are among the most stringent in the United States targeting both reductions in so-called criteria pollutants and reductions in green house gas emissions. Max Pyziur, EPRINC downstream expert, provides an assessment of the costs of the California standards. The  report can be downloaded here.
Lucian Pugliaresi presents at the the 3rd Annual London Gas & LNG Forum on September 26 and 27, 2016 at the RAG Army & Navy Club on the resiliency of the US natural gas resource base. A copy of his presentation can be downloaded here.  

 

On September 23rd EPRINC partnered with the Embassy of Mexico to hold an event at the Mexican Cultural Institute here in Washington DC featuring discussions and presentations on the status of the Mexican energy reform program. The event was well attended and included senior Mexican and U.S. officials.

 

A copy of the agenda can be found here. Under Secretary Ochoa’s presentation can be found here, and Hector Castro Vizcarra, Mexico’s representative for the Secretariat of Energy (SENER) here in Washington, did an excellent write up of the event. Hector’s briefing can be found here.
Max Pyziur, EPRNC Director of Downstream Research, presents some highlights of his ongoing research project on the role of octane in lifting fuel efficiency for new automobiles.  His report can be found here.
Lucian Pugliaresi was a keynote speaker at the annual Power Gen Natural Gas Conference in Columbus, Ohio on August 24, 2016. A copy of his presentation can be found here.

Lucian Pugliaresi, President of EPRINC, has asked the regulatory agencies for more time to undertake research on the recently released (by the US Environmental Protection Agency) draft Technical Assessment Report (TAR) evaluating so-called Corporate Average Fuel Economy (CAFE) and greenhouse gas emission standards for new automobiles.  A copy of EPRINC’s request can be found here. A copy of EPA’s draft TAR can be found here.

 

 

Jeff Kissel, EPRINC’s Distinguished Fellow, begins to take a look at the ambitious program by the State of Hawaii to move its power generation across all the islands to 100 percent renewable energy by 2045. Jeff discusses his project here.

 

 

EPRINC is pleased to welcome our newest Distinguished Fellow, Steve Gallogly.

 

 

EPRINC Releases report US Shale Gas: The Road Ahead.  Authors Ben Montalbano and Trisha Curtis evaluate the capacity of the US unconventional natural gas base to meet a wide range of demand scenarios.  The report can be downloaded directly here.

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