Today, Ranking Republican of House Natural Resources Committee Rob Bishop (R-Utah), Republican Whip Steve Scalise (R-La.), Republican Conference Chair Liz Cheney (R-Wyo.), U.S. Rep. Paul Gosar (R-Ariz.), U.S. Rep. Jeff Duncan (R-S.C.) and U.S. Rep. Markwayne Mullin (R-Okla.) released the following statements on the introduction of the American Energy First Act, which will overhaul federal lands energy policy. The legislation is a truly all-of-the-above approach to American energy development, encouraging the efficient onshore and offshore production of both conventional and renewable energy resources. Federal regulations have burdened energy development on federal lands and waters for far too long, and this legislation aims to put American Energy First and ensure economic growth and domestic energy security for decades to come.
“As we endeavor to secure American energy independence, we must responsibly avail ourselves of the resources required. The American Energy First Act creates a comprehensive structure with which we can lessen our energy dependence on our would-be adversaries. The sustained expansion of American energy resources will stimulate job growth, boost our economy, and most importantly, mitigate the vulnerabilities that come from our reliance on foreign energy sources.
Our Take: We appreciate the practical approach to developing our energy resources that focuses on providing American families with affordable energy.
The Era of the Gas Mega-Players
Nikos Tsafos, Center for Strategic and International Studies, September 20, 2019
Within 10 years, three exporters will tower over the global gas world: Russia, the United States, and Qatar. Other exporters—Norway, Australia, Canada—will remain big players, but their influence will be regional, not global. New entrants will emerge, and existing players will expand their presence, but no country will match the big three in scale, growth, and reach. China will meanwhile become the largest destination for gas, surpassing Japan in imports and closing in on Europe as a whole. These profound changes will rewire the gas system, making it more integrated and competitive. But the system may also allow these mega-players the opportunity to exercise market power, using levers at their disposal to influence prices and flows. Geopolitics might also weigh heavily as a possible driver of behavior or source of friction. The gas world will thus be pulled in three directions: more integration and competition, more efforts to exercise market power, and more geopolitics complementing and complicating market forces. The big question is which of these three competing forces will have a greater say in this new gas era.
Our Take: Great to see the United States on the list of mega-players!! “In short, the global gas market will be pulled in three different directions over the next decade: the emergence of three globally important players—Russia, Qatar, and the United States—will force more interconnectedness and intensify competition, while China will become a key battleground where pipeline gas and LNG meet”
OPEC cuts 2020 oil demand forecast, urges effort to avert new glut
Alex Lawler, Reuters, September 11, 2019
OPEC on Wednesday cut its forecast for growth in world oil demand in 2020 due to an economic slowdown, an outlook the producer group said highlighted the need for ongoing efforts to prevent a new glut of crude. In a monthly report, the Organization of the Petroleum Exporting Countries said oil demand worldwide would expand by 1.08 million barrels per day, 60,000 bpd less than previously estimated, and indicated the market would be in surplus. The weaker outlook amid a U.S.-China trade war and Brexit could press the case for OPEC and its allies to maintain or adjust their policy of cutting output. Iraq said ministers would on Thursday discuss whether deeper cuts were needed.