Tag: oil

Commentary: The Consequences of Delaying Offshore Oil and Gas Lease Sales

RealClearWire
Offshore oil rig

Offshore drilling has been a cornerstone of global energy production since the 1800s, fueling the American way of life and powering the global economy. From the early days of “on-water-drilling” to the advancement of the fixed platform units of today, offshore drilling has consistently contributed around 30 percent of global oil production. In the U.S., supply on federal offshore lands in the Gulf of Mexico alone accounts for approximately 15 percent of total crude oil production.

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Dozens of Energy Orgs Ask Congress to Kill Bill They Say Would ‘Inevitably’ Lead to Carbon Taxes

South Carolina Sun Staff
Utah Rep. John Curtis

Dozens of energy policy and advocacy groups signed a Monday letter to Congress to express their opposition to a bill they say could be the first step toward carbon taxes or tariffs.

The letter urges House lawmakers to vote against the PROVE IT Act, a bill that has not yet been introduced in the lower chamber but is expected to be soon. The PROVE IT Act — which has already been introduced in the Senate — would have the Department of Energy (DOE) study the carbon intensity of goods, including aluminum, steel, plastic and crude oil, produced in the U.S. and the carbon intensity of products from other countries, according to E&E News.

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Domestic Oil Production in U.S. Reached Record Levels

The Center Square
Oil Drilling

Domestic oil production in the U.S. reached a new record in November of 2023, hitting 13.31 million barrels per day, according to data from the U.S. Energy Information Administration.

The previous record was 13.25 million barrels per day. That was set in September 2023.

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Commentary: The Delusions of Davos and Dubai Surrounding Wind and Solar Energy

South Carolina Sun Staff
Solar Energy

In the most recent “Conference of the Parties,” otherwise known as the United Nations extravaganza that convenes every few years for world leaders to discuss the climate crisis, several goals were publicly proclaimed. Notable were the goals to triple production of renewable energy by 2030 and triple production of nuclear energy by 2050. Against the backdrop of current global energy production by fuel type, and as quantified in Part One, against a goal of increasing total energy production from 600 exajoules in 2022 to at least 1,000 exajoules by 2050, where does COP 28’s goals put the world’s energy economy? How much will production of renewable energy have to increase?

To answer this question, it is necessary to recognize and account for the fact that most renewable energy takes the form of electricity, generated through wind, solar, or geothermal sources. And when measuring how much the base of renewables installed so far will contribute to the target of 1,000 exajoules of energy production per year in order to realize—best-case scenario—800 exajoules of energy services, the data reported in the Statistical Review of Global Energy is profoundly misleading.

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