Petroleum

Yesterday, the State Department signed an agreement to resolve a long-standing dispute on oil and natural gas leases that straddled the maritime boundaries between the US and Mexico. The result is the creation of a legal framework for US companies to work in tandem with Pemex (Petroleos Mexicanos), the Mexican state-owned oil company, to develop offshore energy projects on roughly 1.5 million acres of the Outer Continental Shelf.

With recent advances in a process known as hydraulic fracturing or “fracking,” the U.S. may soon be able to boost its energy security while bolstering our economy and creating jobs. Large shale deposits throughout the U.S. are suddenly seeing a flurry of activity that’s being hailed by some for its economic development and criticized by others for environmental concerns. More than 20 percent of U.S. states have proven reserves of oil and gas locked in shale and the economic benefits nationally as well as within each of these states may be tremendous and far-reaching. In this session, experts on all sides of the hydraulic fracturing debate discussed what its production may mean for your state.

America runs on oil and like it or not, the nation will continue to do so well into the future. While technological and cultural shifts impacting U.S. dependence on oil are steadily gaining ground, the country consumes more than 19 million barrels of oil each day with half coming from imports; Canada and Mexico are two of the U.S.'s largest energy partners. To boost energy security, create jobs and lower the price at the pump for consumers, the U.S. must work with its continental neighbors to maximize North American oil production. This session explored current and future partnerships across the Northern and Southern borders and new ways the three countries are cooperating to ensure a more secure and reliable resource future.

America runs on oil and like it or not, the nation will continue to do so well into the future. While technological and cultural shifts impacting U.S. dependence on oil are steadily gaining ground, the country consumes more than 19 million barrels of oil each day with half coming from imports; Canada and Mexico are two of the U.S.'s largest energy partners. To boost energy security, create jobs and lower the price at the pump for consumers, the U.S. must work with its continental neighbors to maximize North American oil production. This session explored current and future partnerships across the Northern and Southern borders and new ways the three countries are cooperating to ensure a more secure and reliable resource future.

With recent advances in a process known as hydraulic fracturing or “fracking,” the U.S. may soon be able to boost its energy security while bolstering our economy and creating jobs. Large shale deposits throughout the U.S. are suddenly seeing a flurry of activity that’s being hailed by some for its economic development and criticized by others for environmental concerns. More than 20 percent of U.S. states have proven reserves of oil and gas locked in shale and the economic benefits nationally as well as within each of these states may be tremendous and far-reaching. In this session, experts on all sides of the hydraulic fracturing debate discussed what its production may mean for your state.

America runs on oil and like it or not, the nation will continue to do so well into the future. While technological and cultural shifts impacting U.S. dependence on oil are steadily gaining ground, the country consumes more than 19 million barrels of oil each day with half coming from imports; Canada and Mexico are two of the U.S.'s largest energy partners. To boost energy security, create jobs and lower the price at the pump for consumers, the U.S. must work with its continental neighbors to maximize North American oil production. This session explored current and future partnerships across the Northern and Southern borders and new ways the three countries are cooperating to ensure a more secure and reliable resource future.

The US State Dept. has green-lighted the controversial Keystone XL pipeline which will connect oil sands regions in Canada to refineries in the United States. Controversy swirled around the pipelines routing which will take it across the Great Plains to oil facilities in Oklahoma and the Gulf Coast. The pipeline project is expected to create 20,000 construction jobs as well as 100,000 indirect jobs and is seen as a boost to North American energy production and security. At its peak, the project is expected to raise Canada’s oil exports by 700,000 barrels a day - equal to the production of Malaysia. The new pipeline is expected to be operational by 2013.

More oil and gas come to the United States from Canada than from any other country in the world. The U.S. is a net energy importer in terms of oil and gas trade with Canada. Canada’s energy exports to the United States were valued at $76 billion in 2009, while U.S. exports to Canada were valued at $11.5 billion.

With gas prices rapidly approaching $4 a gallon across much of the country and unrest gripping large portions of the Middle East, states and the federal government are facing a series of pressing energy challenges. While much attention is frequently given to U.S. dependence on foreign oil, questions about rural energy production and access to markets are no less pressing in large portions of the country. 

Enhanced oil recovery is a decades-old, proven commercial activity already widely practiced in the Permian Basin of Texas, the U.S. Gulf Coast and elsewhere. But could EOR be more widely employed in the Midwest, and ultimately become a central part of this region’s energy policy?

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