Posted in energy policy, tagged IER, oil boom value, savings analysis on August 9, 2022| Leave a Comment »
This interesting IER analysis of the US oil boom follows the methodology used by the White House to justify the unprecedented SPR withdrawals.
The bottom line is a $2/gallon savings to consumers totaling more than $2 trillion. As is the case with natural gas, most of the production boom is attributable to operations on private lands, without which we would be in deep economic trouble.
Posted in energy policy, Gulf of Mexico, Offshore Energy - General, tagged 5 year leasing plan, EIA, Gulf of Mexico production, IER on June 30, 2022| Leave a Comment »
Leasing shutdowns have consequences. See the IER article, and the post below regarding the importance of new production, which is dependent on consistent leasing and exploration programs. Will the proposed leasing plan be issued today as promised?
“According to EIA, declining production from existing Gulf of Mexico fields will largely offset the increases in oil production from the new fields, with natural gas production in the Gulf of Mexico continuing its three-year decline. During 2021, 15 percent of U.S. oil production and 2 percent of U.S. natural gas production was produced in the Gulf of Mexico.”
IER
Bud's Offshore Energy (BOE) 