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Energizing America: Facts for Addressing Energy Policy

Energizing America: Facts for Addressing Energy Policy

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Published by Energy Tomorrow
The United States is at an historic turning point for the country and its energy policies. But many Americans lack a full understanding of the oil and natural gas industry. API has assembled this oil and gasoline primer to encourage a constructive public policy debate that leads to a new fact-based comprehensive energy policy.
The United States is at an historic turning point for the country and its energy policies. But many Americans lack a full understanding of the oil and natural gas industry. API has assembled this oil and gasoline primer to encourage a constructive public policy debate that leads to a new fact-based comprehensive energy policy.

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Published by: Energy Tomorrow on May 01, 2009
Copyright:Attribution Non-commercial No-derivs

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01/31/2013

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July 2012
For the latest report, please visit
www.api.org/energizingamerica
America’s Oil and Natural Gas Industry
Energizing America
Facts for Addressing Energy Policy
 
Energizing America: Facts for Addressing Energy Policy|July 2012
The United States is at an historic turning point for the country and its energy policies.But many Americans lack a full understanding of the oil and natural gas industry. APIhas assembled this oil and gasoline primer to encourage a constructive public policydebate that leads to a new fact-based comprehensive energy policy.
Factors Affecting Price
Gasoline, Diesel and Crude Oil PricesPage 1Oil Prices Relate to Many Uncertain FactorsPage 2World Liquid Fuel ConsumptionPage 3Growth in World Liquid Fuel ConsumptionPage 4OPEC Surplus Production CapacityPage 5Commodity PerformancePage 6WTI in Dollars and Euros/YenPage 7EIA Price ForecastPage 8
Where the Money is Going
What Consumers Are PayingPage 9Earnings by IndustryPage 10Earnings Compared to ManufacturingPage 11Return on InvestmentPage 12Who Owns the Oil CompaniesPage 13Taxes Paid by the Oil and Natural Gas IndustryPage 14Effective Tax Rates Among IndustriesPage 15Economic Consequences of Higher TaxesPage 16Capital Spending for U.S. ProjectsPage 17U.S. Environmental ExpendituresPage 18
Carbon Mitigation
Climate Change PolicyPage 19Investments to Reduce EmissionsPage 20Investments by Technology and Investor GroupPage 21Greenhouse Gas Emission ReductionsPage 22
Refineries and Fuels
Refining Capacity ExpandsPage 23Net Imports of Total Petroleum ProductsPage 24Expanding Alternative FuelsPage 25U.S. Corn UsePage 26
U.S. Energy Needs
Energy EfficiencyPage 27Future U.S. Energy DemandPage 28Renewable Energy ConsumptionPage 29Energy Consumption by SectorPage 30
Potential of Domestic and Canadian Resources
Shale Plays, Lower 48 StatesPage 31U.S. Crude Oil and Natural Gas ResourcesPage 32Offshore Undiscovered Technically Recoverable ResourcesPage 33The Myth of Idle LeasesPage 34Ultimately Recoverable Oil ResourcesPage 35Benefits to Access to Domestic SourcesPage 36Canadian Oil SandsPage 37
The Global Energy Framework
Future Global Energy DemandPage 38Accumulating Risks to the Development of Oil and Natural GasPage 39The Myth of Big OilPage 40Largest Oil and Gas CompaniesPage 41Sources of SupplyPage 42
Energy Policy
Page 43
Table of Contents
 
Page 1Energizing America: Facts for Addressing Energy Policy|July 2012
Changes in gasoline anddiesel prices mirrorchanges in crude oil prices.
The roller coaster rise and fall in gasolineand diesel prices over the last few yearstracks changes in the cost of crude oil.Those changes are determined in theglobal crude oil market by the worldwidedemand for and supply of crude oil. Weakeconomic conditions in the U.S. andaround the world in 2008 and into 2009led to less demand which helped pushprices down.With the worldwide economic recoveryunderway, demand is on the rise againbut unrest in the Middle East and NorthAfrica has put supplies at risk. Thiscombination of rising demand and reducedsupply helped to push prices higher.
Gasoline, Diesel and Crude Oil Prices
Source: NYMEX (WTI crude oil) and AAA (gasoline and diesel).

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