Shale revolution

Sunday, May 19, 2013

IEA: Supply shock from North American shale oil and gas is transformative and is rippling through global markets

Mark J. Perry | May 14, 2013, 6:36 pm

From the International Energy Agency’s press release today: The supply shock created by a surge in North American oil production will be as transformative to the market over the next five years as was the rise of Chinese demand over … read more >

Carpe Diem

Stagnant middle-class? End of the American dream? Jobless recovery? Not in energy-rich states of PA, ND, and TX

Mark J. Perry | May 2, 2013, 8:56 pm

1. Exhibit A: How The Shale Boom Has Transformed One Rural Pennsylvania County While Susquehanna County, Pennsylvania was heading over a recessionary cliff in late 2008, northeast Pennsylvania began to see the trickle of what would become millions of dollars pouring … read more >

Carpe Diem

Energy fact of the day: Eagle Ford Shale sets oil production record in February, with a 74% increase from a year ago

Mark J. Perry | April 22, 2013, 6:08 pm

Bloomberg — “Oil production in Texas’s Eagle Ford shale formation reached an all-time high in February as it climbed 74 percent compared with a year earlier. “The nine geographic fields that make up the majority of Eagle Ford yielded 471,258 … read more >

Carpe Diem

On Earth Day, let’s appreciate our fossil fuel energy treasures and the human ingenuity that transforms our natural resources

Mark J. Perry | April 21, 2013, 1:07 pm

On Earth Day (April 22), “events are held worldwide to increase awareness and appreciation of the Earth’s natural environment.” As we observe Earth Day this year, it might be a good time to appreciate the fact that Americans get most … read more >

Carpe Diem

Energy fact of the day: Household spending on home energy in 2012 as a share of income was the lowest in ten years

Mark J. Perry | April 18, 2013, 8:58 pm

The Energy Information Administration (EIA) reported today that US households spent an average of 2.7% of their income last year on household energy including home use of electricity, natural gas, fuel oil, propane, kerosene, wood, and coal, but excluding transportation … read more >

Carpe Diem

Market forces and fracking have created wealth and jobs

Mark J. Perry | April 15, 2013, 10:55 am

From Conn Carroll in today’s Washington Examiner: There has been a transformation of American energy production under Obama, but it has happened despite his policies, not because of them. No union/environmentalist central planner set out to create hundreds of thousands … read more >

Carpe Diem

About that ‘hydrocarbon bubble’ theory of the ‘peak oil’ enthusiasts

Mark J. Perry | April 10, 2013, 2:34 pm

Despite a growing body of empirical evidence to the contrary, there is a small, fringe group of energy analysts who stubbornly promote the theory that America’s shale oil and natural gas revolution is somehow an unsustainable “hydrocarbon bubble” that is on the verge of bursting. Comparisons are frequently made … read more >

Carpe Diem

Economic fact of the day: Thanks to shale oil boom, Midland, Texas has lowest metro jobless rate in US at 3.2%

Mark J. Perry | April 10, 2013, 10:55 am

The BLS released data today on Metropolitan Area Employment and Unemployment for the month of February. Of the 372 metro areas in the US, the lowest February jobless rate was recorded in Midland, Texas at 3.2%, which also recorded the largest year-over-year … read more >

Carpe Diem

Energy updates, including a new estimate that the US has a 110-year supply of natural gas

Mark J. Perry | April 9, 2013, 9:20 pm

1. John Authers of the Financial Times reports that one considerable reason for optimism in the US is the revolution in the supply of natural gas, which has changed the dynamics of many industries. 2. Take the National Geographic’s “Coal … read more >

Carpe Diem

US gas rigs have decreased by 75% since 2008 and yet gas production has increased to record high levels

Mark J. Perry | March 20, 2013, 5:49 pm

The amazing chart above shows how the number of active natural gas rigs in the US has fallen from an all-time high of 1,606 in September 2008 to only 407 in early March of this year, a drop of 75% according … read more >

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