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
On a very sad note, EPRINC lost an old friend on November 12th. Henry (Harry to his friends) Rowen passed away in Palo Alto at the age of 90.
Lucian Pugliaresi made a presentation at the University of California, San Diego before the School of Global Strategy and Public Policy.
Jeff Kissel, who recently joined EPRINC as a Distinguished Fellow, provides a brief commentary on why low oil prices may reduce the economic pain from a (likely) forthcoming increase in interest rates from the Fed.
Trisha Curtis recently completed a detailed assessment of U.S. oil shale production in a low price environment. The research effort was supported by both EPRINC and the Oxford Institute of Energy Studies (OIES).
Larry Goldstein, former President and Director at EPRINC has been carefully following US employment trends for as long we can remember.
Max Pyziur and Lucian Pugliaresi on Technical Constraints and Cost Risks from the Renewable Fuel Standard
Under US law, increased volumes of biofuels must be blended into gasoline and diesel fuels. A variety of factors, including future demand for transportation fuels, falling crude oil prices and technological constraints, are all providing new challenges to successfully implementing the biofuel mandate.
This EPRINC assessment demonstrates that the RFS (Renewable Fuel Standard) requirements create considerable long-term costs, risks, and uncertainties to fuel producers, and are likely to raise transportation fuel costs substantially.
EPRINC welcomes Jeffrey Kissel, former CEO of Hawaii Gas, as EPRINC Distinguished Fellow.
We look forward to Jeff’s insights and assistance drawing from his long and distinguished experience across a broad spectrum of the energy industry.
For Jeff’s bio, click the link.
Read Lucian Pugliaresi’s recent comment on EPA’s Proposed Rule for biofuel blending requirements through 2017.
From the latest EPRINC Embassy Series Event at the Italian Embassy: EPRINC’s Keynote Presentation Delivered by Trisha Curtis, Panel Discussion Moderated by Lucian Pugliaresi.
Biographies of the panel members and EPRINC President Lucian Pugliaresi, as well as a brief description of the event, are available below.
An abridged version of Trisha Curtis’ presentation, ‘Sustaining North American Production in a Low Oil Price Environment,’ is also available below.
Trisha Curtis, EPRINC’s Director of Research, Upstream and Midstream, was quoted in a World Oil Magazine article about US shale production.
Trisha Curtis presented at Hart Energy’s DUG Bakken conference in Denver, CO on April 2nd, 2015.
Lucian Pugliaresi presented on the decline in world oil prices and the North American petroleum outlook at the annual International Petroleum Seminar in Tokyo, hosted by the Japan Oil, Gas, and Metals Corporation (JOGMEC).
EPRINC has just published a primer on condensate. The full report is available at the following link.
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