Green Jobs: Fact or Fiction?

"Shale gas is natural gas stored deep underground in fine-grained sedimentary rocks. It can be extracted using a process known as hydraulic fracturing – or 'fracking' – which involves drilling long horizontal wells in shale rocks more than a kilometre below the surface. Massive quantities of water, sand and chemicals are pumped into the wells at high pressure. This opens up fissures in the...

"New revelations continue to surface about the Obama administration's handling of half a billion dollars in federal loan guarantees to the now-bankrupt solar company Solyndra.

On Monday, Democrats released a memo that showed some voices inside the White House argued against President Obama's visit to Solyndra in May 2010.

But Solyndra was just one of the clean energy projects and...

"There are few technologies today quite so popularly disliked today as fracking, short for hydraulic fracturing, the practice of pumping high-pressure water into natural gas reserves deep underground to break up the rock and make the gas easier to mine. Fracking has been harshly criticized all around the world as dangerous, and has even been banned in a number of countries. There are charges...

"Americans endorse increased government efforts to encourage energy production from alternative sources of energy, but at the same time do not believe the government should reduce its financial support for the production of energy from traditional sources. Only 30% think the government should decrease the monetary support and incentives it provides to producers of energy from oil and gas......

"Natural gas may not have much impact on the senses, but as a source of heat and power it is transforming energy markets. Around 100AD Plutarch, a Graeco-Roman poet, noted the 'eternal fires' in what is now Iraq. They were probably methane gas seeping out of the ground, ignited by lightning. Those eternal fires are now proliferating. An unexpected boom in shale gas that has taken off in...

"On December 7, the Federal Energy Regulatory Commision (FERC) granted a 30-year license to Jordan Cove LNG (...

"With gasoline selling at around $4 per gallon, the political hunt is on to track down the ne're-do-wells responsible. The primary suspects seem to be Wall Street speculators who, we're told, are gaming the crude oil futures market to create price increases out of thin air. It is a tale, however, told by an idiot, full of sound and fury, signifying ignorance.

The only way to...

"Australia has decided to pursue a policy that does not depend on energy independence, but on an interconnected globalised energy market. They believe that, "pursuing self-sufficiency in energy resources such as liquid fuels can impose unnecessary higher costs on consumers without necessarily providing a material economic or strategic benefit."

"Turns out biodiesel is profitable with a federal tax subsidy of up to a dollar a gallon, and with the anticipation of restrictions on greenhouse gases. So a guy who’s normally 'very skeptical of the government’s role' supports subsidies in this case because there’s 'no other way to do it.' But that’s the whole point of markets and prices–to tell us what economic endeavors make sense. If...

"The 250-megawatt California Valley Solar Ranch, under construction in eastern San Luis Obispo County, will generate clean, reliable solar power for transmission over PG&E's utility grid. This will help California achieve the 33% renewable energy by 2020 goal."

"Legislative efforts to implement a supposedly 'environmentally friendly' conversion of the U.S. economy by means of carbon credits may be on hold for the moment, but that does not mean that a shift toward solar and wind power is not underway. The motivation for the trend is supposedly profit, not ideology."

"Environmentalists and the energy industry appear to be edging towards a consensus that would permit a big expansion in hydraulic fracturing for oil and gas in exchange for stricter rules on engineering procedures such as well casing and cementing."

"A privately held start-up that makes solar panels announced today that they would be filing for bankruptcy. The company, Solyndra Inc., received a $535 million loan guarantee from the U.S. Department of Energy in September 2009. This follows two other bankruptcy announcements by solar start-ups this month. The explanation for these closures has been that world prices for solar products have...

"Gov. Ed Rendell's recent proposal to increase the mandate for the proportion of electricity in Pennsylvania that must be generated from solar power -- from 0.5 percent to 1.5 percent by the year 2021 -- is the best illustration of that aphorism I have seen in a long time.

The governor is right to want clean 'green' power. I wish solar power was the answer. But today other technologies...

"Wind and biomass dominate projected increases in U.S. renewable electricity generation, excluding hydropower, in EIA's Annual Energy Outlook 2012 (AEO2012) Early Release Reference case. Increased generation from non-hydro renewable energy resources in the electric power sector accounts for 33 percent of the overall growth in electricity generation from 2010 to 2035. The non-hydro renewable...

"Most of the energy consumed in America today is produced from the combustion of fossil fuels, primarily oil, coal, and natural gas. ...

In a free market, cost dictates energy choices. Fossil fuels, for example, are economically attractive for many applications because the energy available from fossil fuels is highly concentrated, easily transportable, and cheaply extracted. Renewable...

"One of the current debates taking place in Congress (and has been for some time) is how to solve our energy crisis (both in relation to climate change, as well as our dependence on foreign suppliers, many of whom support terrorist organizations–which means we end up being de facto subsidizers of said organizations). Because a market for alternative energies doesn’t really exist, this leaves...

"The lofty goal of energy independence gets a lot of publicity from politicians in both parties, but the concept makes no economic sense. It would do us good to approach the problem more rationally."

"In general terms, Bastiat observed that when government goes beyond referring free-enterprise to actively interfering with it, the consequences fall into two categories: what is seen, and what is not seen.

Thus, when government favors technology A over technology B, what is seen are the profits from sales of technology A. What is not seen are lost profits from lower sales of technology...

"The United Nations Climate Conference in Bali, Indonesia, wrapped up on December 14. During the conference, debate intensified over whether to include in any climate change agreement greenhouse gas emission targets for developed countries. While most alternative sources of energy are not economically viable at this point, environmentalists and policymakers are hopeful for technological...

"Opposition to a drilling technique known as hydraulic fracturing has slowed the development of natural gas in Europe, creating export opportunities for U.S. producers hurt by low prices and a glut of gas at home.

Fracking, as the practice is known, was temporarily suspended in the United Kingdom after it was linked to a series of earthquakes. Bulgaria and France -- home of the...

"Like generalissimo Francisco Franco, Evergreen Solar spent a long time on its death bed. Deval Patrick’s favorite energy company finally succumbed to Chapter 11 this week. Creditors include the state of Massachusetts, owed $1.5 million in back rent. But it’s likely that as much as $40 million in state subsidies will be lost as well.

Every one of the firm’s death throes has been an...

"First Solar, Inc. (Nasdaq:FSLR) today announced completion of the sale of one of the world's largest photovoltaic (PV) solar power projects — the 550-megawatt (AC) Desert Sunlight Solar Farm near Desert Center, Calif.

First Solar — which will continue to build and subsequently operate and maintain the project under separate agreements — has sold the project to affiliates of NextEra...

"The price differential for a million btu is blowing out once again, between Global oil and North American natural gas. The extraordinary discount has persisted for some years. But today, with West Texas Intermediate (WTIC) oil above $100 and Brent oil above $110, the spread has reached new highs. The energy content of natural gas is trading at an 83% discount to WTIC Oil, and at an 85%...

"Bulgaria's Cabinet decided on January 17 to amend the licence awarded to US oil firm Chevron, explicitly banning the use of hydraulic fracturing (fracking) technology in the exploration of potential shale gas reserves in the country's northeast.

The Cabinet awarded the exploration permit for the Novi Pazar area in June 2010, but did not specify at that time what technology the company...

"French senators voted to outlaw hydraulic fracturing, or fracking, making France the first country to pass a law banning the technique for extracting natural gas and oil.

'We are at the end of a legislative marathon that stirred emotion from lawmakers and the public,' French Environment Minister Nathalie Kosciusko-Morizet said late yesterday before the vote....

"By spurring development of the politically favored alternative fuel of the moment, devotees of federal energy subsidies say that we can stop sending dollars overseas. Details of the Solyndra scandal continue to unfold, but what we know so far should teach the Obama administration a valuable lesson: The government should not be in the business of picking winners and losers.

...

"Previous gas price spikes in 2006 and 2008 brought blame on 'Big Oil' (meaning firms like Exxon-Mobil, BP, Royal Dutch/Shell, et al., which really are just mid-sized oil — but whatever), the Bush administration and Republicans, environmentalists, and the federal government. But 2011 offers a new leader in the blame game: speculators. From Capitol Hill lawmakers, to...

"Natural gas is poised to enter a golden age, but this future hinges critically on the successful development of the world's vast unconventional gas resources. North American experience shows unconventional gas - notably shale gas - can be exploited economically. Many countries are lining up to emulate this success.

But some governments are hesitant, or even actively opposed. They are...

Back in 2005, the authors reflected on why gas prices had risen to two dollars a gallon. Part of the reason, they believe, is that, "Gasoline markets today are increasingly global rather than regional in nature. For example, European governments tax diesel fuels less than gasoline and European motorists have responded by using diesel. Accordingly, European refineries make more gasoline than...

"Freedom, opportunity, prosperity and a civil society have made America exceptional. But without energy — secure and affordable energy — many of our great accomplishments would not have been possible.

Unfortunately, our already tenuous energy security is being threatened and diminished by policies emanating from Washington. That need not be the case, and conservatives can meet the...

"Hydraulic fracturing or fracking is a means of natural gas extraction employed in deep natural gas well drilling. Once a well is drilled, millions of gallons of water, sand and proprietary chemicals are injected, under high pressure, into a well. The pressure fractures the shale and props open fissures that enable natural gas to flow more freely out of the well."

"Since Stanolind Oil introduced hydraulic fracturing in 1949, close to 2.5 million fracture treatments have been performed worldwide. Some believe that approximately 60% of all wells drilled today are fractured. Fracture stimulation not only increases the production rate, but it is credited with adding to reserves—9 billion bbl of oil and more than 700 Tscf of gas added since 1949 to US...

"Members of Congress, gas companies, news organization, drilling opponents: They've all made bold claims about hydraulic fracturing (fracking) and the U.S. supply of underground natural gas. We take on 10 controversial quotes about natural gas and set the record straight."

"First of all, the mining tar sands for oil is incredibly destructive. It can and must be stopped. I felt that standing against it, shoulder to shoulder with climate justice activists and fracktivists was a moral imperative."

"In his State of the Union address, President Obama invoked the 30-year history of federal support for new shale gas drilling technologies to defend his present day investments in green energy. Obama stressed the value of shale gas—which will create thousands of jobs and billions in profits—as part of his 'all of the above' approach to energy, and defended the critical role government...

This piece describes how San Francisco's energy-saving, low-flush toilets actually created extra costs and unforeseen problems. Loris also touches on the ill-effects of several other energy efficient products and concludes by recommending that governmental subsidies are unnecessary in promoting these types of consumer goods.

"What’s needed to get the economy back on its feet is less wasteful government spending, less government tinkering with the energy economy, limiting regulations to the mitigation of clear and present dangers, minimizing the costs of regulatory compliance and unshackling the free-enterprise energy economy that drove the American economy to heights other countries could only envy.

Markets...

"A group of the nation’s leading experts on energy and the environment are at Duke this week attending a workshop to try to ferret out the facts (and tamp down the hype) around shale gas and fracking, the controversial method for extracting natural gas trapped in shale deposits. With yesterday’s sessions held as a public forum and today’s held in private, the two-day workshop aims to find...

"Natural gas plays a key role in our nation's clean energy future. The U.S. has vast reserves of natural gas that are commercially viable as a result of advances in horizontal drilling and hydraulic fracturing technologies enabling greater access to gas in shale formations. Responsible development of America's shale gas resources offers important economic, energy security, and environmental...

"The bipartisan New Alternative Transportation to Give Americans Solutions (NATGAS) Act provides preferential tax treatment to subsidize the production, use, and purchase of natural gas vehicles (NGVs). Supporters argue that it promotes transportation fuel competition and reduces foreign oil dependence and greenhouse gas emissions.

In reality, the NATGAS Act simply transfers a portion...

"Natural gas is a vital component of the world's supply of energy. It is one of the cleanest, safest, and most useful of all energy sources. Despite its importance, however, there are many misconceptions about natural gas. For instance, the word 'gas' itself has a variety of different uses, and meanings. When we fuel our car, we put 'gas' in it. However, the gasoline that goes into your...

According to Robert Michaels, "Natural gas is the commercial name for methane, a hydrocarbon produced by the same geological processes that produce oil. Relatively abundant in North America, its production and combustion have fewer adverse environmental effects than those of coal or oil." Michaels goes on to trace the history of Natural Gas usage in the U.S. from its earliest subjection to...

"The technological revolution allowing for the cheap extraction of natural gas from shale occurred thanks to more than three decades of government subsidies for research, demonstration, and production, a new Breakthrough Institute investigation finds.

Both directly and indirectly, the government was behind the critical moments and tools in the shale gas revolution - massive hydraulic...

"Are Americans energy dependent? Yes—dependent on government energy subsidies. In 2007, American taxpayers subsidized government-preferred energy sources to the tune of nearly $17 billion. Increasingly, it is politicians in Washington who decide how Americans produce and consume energy. But subsidies for special interests stifle competition, raise energy prices, and decrease economic...

"The continuing boom in North Dakota seemingly has no end. Last June oil production from the Bakken Formation exceeded 11 million barrels a month. In February it reached 16 million with estimates that by late spring North Dakota could be producing more oil than either California or Alaska. That’s more than double what the state produced just two years ago."

"Given Americans’ increasing anxiety over made-in-Washington socialism, it’s a wonder that the nuclear power industry has escaped scrutiny for so long. The federal government socializes the risk of investing in nuclear power while privatizing profits. This same formula drove the frenzied speculation that cratered the housing and financial markets. What might it cause with nuclear power?"

"President Barack Obama pushed drilling for gas in shale rock and support for cleaner energy sources to boost the economy in his final State of the Union address before facing U.S. voters in November.

Hydraulic fracturing, the process of injecting water, sand and chemicals underground to free gas trapped in rock, could create more than 600,000 jobs by the end of the decade, Obama said...

"When oil prices hit record levels, many people look for a scapegoat, and hugely profitable oil companies are an easy target. Even so, the typical political 'solutions' overlook the crucial role that market prices play in resource allocation, both among competing uses in different areas of the world today and among competing uses in different time periods (i.e. today versus the future)....

"Gas prices are high and Americans want the villains responsible held accountable. Congress doesn't want to be blamed, though it certainly deserves a portion for refusing policy changes that would make a difference even in the long run. So, to deflect attention Congress has joined in the finger-pointing, and the easiest targets are 'speculators.'"

"The U.S. House of Representatives recently passed H.R. 2360, the Providing for Our Workforce and Energy Resources (POWER) Act, which according to its sponsor, Representative Jeff Landry (R–LA), would 'close a loophole in existing law that allows offshore renewable energy resources to be installed and serviced by foreign workers.' ... This would supposedly result in more American jobs, reduced...

This piece discusses the age old problem of price controls. As an example, Rockoff uses the gasoline price controls of the 1970s to demonstrate the economic loss this type of policy brings to individuals and society.

"A few months ago my editors asked me to look into the potential danger for manmade earthquakes triggered during the hydraulic fracturing process.

The basic story I found at the time was pretty simple: Yes, when wastewater used during the fracking process ...

"According to data from the EIA, more natural gas was produced in October - 2,330,551 million cubic feet - than in any previous month in U.S. history (see chart above). I couldn't find this reported elsewhere, so I'm claiming this as a 'Carpe Diem exclusive'!

As John Tierney reported recently in the New York Times:

'The really good news is the discovery of vast quantities of...

"The bankruptcy filing by solar panel manufacturer Solyndra, which received $535 million in loan guarantees from the federal government, is grist for many controversies. While some of them are narrowly political, others involve legitimate policy questions that deserve a full airing. It's fair to ask, for example, why the government is subsidizing alternate energy sources in the first place....

"Last month First Solar (FSLR) achieved a milestone in the solar industry with its announcement of $1 per Watt reducing its production cost for solar modules to 98 cents per watt, thereby braking the $1 per watt price barrier. While the achievement is great news for the solar industry some studies suggest more work is needed. An article in Popular Mechanics $1 per Watt talks of university...

"When the government decides to favor a technology with subsidies, it’s a good bet that subsidy 'winner' is a loser in the marketplace. Political decisions to provide subsidies distort the marketplace at the expense of economic growth and prosperity. That’s exactly what has happened--and what continues to happen--with America’s energy tax policy. Reversing this practice will benefit American...

"Is nuclear power the answer for a warming planet? Or is it too expensive and dangerous to satisfy future energy needs?

Interest in nuclear power is heating up, as the hunt intensifies for 'green' alternatives to fossil fuels like coal and natural gas. Even some environmentalists have come on board, citing the severity of the global-warming threat to explain their embrace of the once-...

"The U.S. is in the midst of an energy revolution, and we don't mean solar panels or wind turbines. A new gusher of natural gas from shale has the potential to transform U.S. energy production—that is, unless politicians, greens and the industry mess it up.

Only a decade ago Texas oil engineers hit upon the idea of combining two established technologies to release natural gas trapped in...

"There's a wealth of natural gas trapped underground—but what depths do we have to plumb to extract it? More and more, oil and gas companies are opting for fracking, or hydraulic fracturing: injecting a mixture of sand, water and chemicals into dense rock layers and shale, creating cracks that allow natural gas trapped inside to flow to the earth's surface. Once an also-ran in fossil-fuel...

"Adding to a long list of energy-efficiency legislation, two Members of Congress—David B. McKinley (R–WV) and Peter Welch (D–VT)—recently proposed a federal energy-efficiency bill that gives tax rebates to homeowners who make energy-saving improvements to their homes. This bill and its predecessors reward consumers for saving money.

Let’s propose a simpler, more direct, and more...

"Much like other important industries in the Commonwealth—coal, iron, steel, timber, and railroading—the production of oil in northwestern Pennsylvania was fraught with danger. Among the perils petroleum speculators and drillers faced were fires, explosions, and fatal jams while shipping crude oil to market on waterways.

One of the most dangerous tasks in extruding oil from the earth...

"I have come to believe that extracting natural gas from shale using the newish technique called hydrofracking is the environmental issue of our time. And I think you should, too.

Saying so represents two points of departure for me. One: I primarily study toxic chemicals, not energy issues. I have, heretofore, ceded that topic to others, such as Bill McKibben, with whom I share this...

"Energy consumption is arguably the largest contributor to carbon dioxide emissions and is at the center of much of the blame for climate change. To better understand how we use this carbon-creating energy, this is a look at which states use the most."

"Americans are growing increasingly concerned about energy. Their demand for energy is increasing faster than secure supplies. Much of the world's sup­ply of oil is delivered in a restrictive market dominated by unstable or hostile nations, some of which are using energy as a tool to frustrate U.S. national secu­rity and foreign policy objectives.

Meanwhile, many Americans harbor...

"The history behind the shale gas boom remained relatively unknown until late 2011, when researchers at the Breakthrough Institute conducted an extensive investigation revealing the role that federal agencies like the Department of Energy and the National Laboratories played in supporting gas industry experimentation with shale fracking.

Featured in the ...

"The world is heading for a catastrophic energy crunch that could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, a leading energy economist has warned.

Higher oil prices brought on by a rapid increase in demand and a stagnation, or even decline, in supply could blow any recovery off course, said Dr Fatih Birol, the...

"There are two prominent justifications for biofuel subsidies—to reduce gasoline consumption and carbon dioxide emissions. But how much does it cost to achieve these goals? According to the Congressional Budget Office (CBO) ..., subsidies for biofuels are costly to consumers and have high abatement costs for mitigating carbon dioxide emissions."

"The recent press about the potential of shale gas would have you believe that America is now sitting on a 100-year supply of natural gas. It's a 'game-changer.' A 'golden age of gas' awaits, one in which the United States will be energy independent, even exporting gas to the rest of the world, upending our current energy-importing situation.

The data, however, tell a very different...

"A few days ago Alex Planes published an extraordinary article on The Motley Fool titled the "Real Costs of Alternative Energy" that summarized direct US subsidies for our principal energy sources, restated annual energy consumption from each of those sources using equivalent barrels of oil...

"Malodorous brown smoke from a power plant enveloped this logging town on April 29, 2010, and several hundred residents fled until it passed.

Six months later, the plant got $5.4 million from a federal program to promote environmentally preferable alternatives to fossil fuel.

The plant, Blue Lake Power LLC, burns biomass, which is organic material that can range from construction...

"As concerns grow in the U.S. about the environmental impact of hydraulic fracturing, or 'fracking,' to extract natural gas from shale, companies have set their sights on Europe and its abundant reserves of this 'unconventional' gas. But from Britain to Poland, critics warn of the potentially high environmental cost of this looming energy boom."

Created by the U.S. Department of Energy, this chart shows how much American consumers spend per energy source. In 2009, consumers spent nearly 600 billion dollars on petroleum and only 5 billion dollars on nuclear fuel.

"First developed in natural-gas fields, fracking yielded an unexpected oil boom that has redrawn America's energy geography. Abundant crude, combined with a huge refining base and waning demand at home turned the U.S. into a net exporter of refined products last year; the EIA expects that situation to continue beyond 2020.

North Dakota went from being a minor producer to surpassing...

"It's an iconic image, captured in the 2010 Academy Award—nominated documentary GasLand. A Colorado man holds a flame to his kitchen faucet and turns on the water. The pipes rattle and hiss, and suddenly a ball of fire erupts. It appears a damning indictment of the gas drilling nearby. But Colorado officials determined the gas wells weren't to blame; instead, the homeowner's own water well had...

"A few days ago Alex Planes published an extraordinary article on The Motley Fool titled the 'Real Costs of Alternative Energy' that summarized direct US subsidies for our principal energy sources, restated annual energy consumption from each of those sources using equivalent barrels of oil as a standard measure, and calculated the direct Federal subsidy per unit of useful energy consumed. The...

"Two important investigative reports on the subject came out recently, one by Food and Water Watch and another by the Pittsburgh Tribune-Review. Both of the reports show that, contrary to the claims made by the oil and gas industry that fracking for unconventional energy will 'boost local economies,' fracking is increasingly revealing itself as a boon for huge...

This graph demonstrates that nuclear power costs are rising. Despite advances in technology, nuclear power is not becoming cheaper. Mark Cooper argues this fact should lead us to invest in other alternative energy sources.

Charting the oil and gas, nuclear, biofuel, and renewable energy industries, this chart "shows the average annual subsidies to each sector over their lifetimes."

"Table 1 also summarizes the INTEK shale report's assessment of technically recoverable shale oil resources, which amount to 23.9 billion barrels in the onshore Lower 48 States. The largest shale oil formation is the Monterey/Santos play in southern California, which is estimated to hold 15.4 billion barrels or 64 percent of the total shale oil resources shown in Table 1. The Monterey shale...

"It is generally accepted that, since the discovery of fossil fuels about 150 years ago, at least half of all the crude oil in global reserves has been depleted. In the U.S. (largest per capita consumer of fossil fuels), this oil provided an energy return on energy invested (EROEI) of about 100:1 in 1930, but it is now less than 20:1 for imported oil and 10:1 for domestic (>85% of our crude...

"Created by the U.S. Department of Energy, this chart shows America's natural gas imports and exports since 1950.

"The increase in natural gas production from 2010 to 2035 in the AEO2012 Reference case results primarily from the continued development of shale gas resources (Figure 107). Shale gas is the largest contributor to production growth; there is relatively little change in production levels from tight formations, coalbed methane deposits, and offshore fields.

Shale gas accounts for 49...

"Indeed, as Figure ES-1 ... shows, subsidies to the nuclear fuel cycle have often exceeded the value of the power produced. This means that buying power on the open market and giving it away for free would have been less costly than subsidizing the construction and operation of nuclear power plants. Subsidies to new reactors are on a similar path."

"Wind and biomass dominate projected increases in U.S. renewable electricity generation, excluding hydropower, in EIA's Annual Energy Outlook 2012 (AEO2012) Early Release Reference case. Increased generation from non-hydro renewable energy resources in the electric power sector accounts for 33 percent of the overall growth in electricity generation from 2010 to 2035. The non-hydro renewable...

"It appears the public clearly recognizes the need to develop alternative energy sources and the benefits of doing so, but may also think it is too soon to do away with the current way of doing things. In general, Americans are concerned about the energy situation -- 42% describe it as 'very serious,' which is down slightly from last year's 46%, but at the higher end of what Gallup has...

"Global reserves have been steadily increasing for at least 30 years. According to a report from the Massachusetts Institute of Technology (MIT), published last year, world production has grown significantly too, rising by two-fifths between 1990 and 2009, twice as fast as that of oil. Only half a decade ago it looked as though the world might have only 50 or 60 years-worth of gas. Now shale...

"Civil War Veteran invents an Oil Well 'Exploding Torpedo'

Civil War veteran Col. Edward Roberts had fought with a New Jersey Regiment at the 1862 battle of Fredericksburg, Virginia. Amidst the chaos of the battle, he had seen the results of explosive Confederate artillery rounds plunging into the narrow millrace (canal) that obstructed the battlefield.

The Virginia battlefield...

"The Energy Information Administration estimates the U.S. has 2552 trillion cubic feet of potential natural gas resources."

"Hydroelectric is the most cost effective at $0.03 per kWh. Hydroelectric production is naturally limited by the number of feasible geographic locations and the huge environmental infringement caused by the construction of a dam. Nuclear and coal are tied at $0.04 per kWh. This comes as a bit of a surprise because coal is typically regarded as the cheapest form of energy production. Another...

"Even though chemicals represent a very small portion of hydraulic fracturing fluids, they serve several important purposes. Such additives help to eliminate bacterial growth in the well, similar to the way that chlorine helps eliminate bacterial growth in a pool or our drinking water. Bacteria can cause corrosion, which, unless treated by chemicals in the fracking fluid, could impact the...

"Before discussing recommendations for DOE’s FY 2010 ERD&D budgets, it is useful to understand the context in which these ERD&D activities take place. Although U.S. government investments in ERD&D have increased somewhat in recent years, they remain far below the levels of the late 1970s, when the economy was far smaller (see Figure 1.) They are also well below what is likely to be...

"There is no doubt that the federal government should help guarantee the development of alternative energy for the nation. You can see in this DOE chart that America is losing the race to produce solar energy products, particularly to China and Taiwan."

"The slower pace of approvals and regulatory uncertainty makes the Gulf of Mexico less attractive when competing with other investment opportunities and as a result assets and capital will move to other prospective areas of the world. A sustained slowdown in the Gulf of Mexico is already having a negative impact on job creation and domestic oil production, and will do so even more in 2012....

"This map, produced by BP’s Statistical Review division, shows countries based on known crude oil reserves. The larger the country, the more reserve capacity. The map also gives mariners working offshore an idea where jobs opportunities may arise in the coming years."

"The current approach to managing used nuclear fuel is systemically broken. It was developed to support a nuclear industry that was largely believed to be in decline; that is no longer the case. The federal government promised to take title of the used fuel and dispose of it; this removed any incentive for the private sector to develop better ways to manage the fuel that could be more...

"Abstract: Electricity is the lifeblood of the U.S. economy—it is essential for all transportation, and for manufacturing all food and consumer products on which Americans rely every day. Many small businesses and families are still struggling to make ends meet during this fragile economic rebound, and the last thing they need is the rapidly increasing electricity, fuel, and food costs....

"The projections in the U.S. Energy Information Administration's (EIA's) Annual Energy Outlook 2012 (AEO2012) focus on the factors that shape the U.S. energy system over the long term. Under the assumption that current laws and regulations remain unchanged throughout the projections, the AEO2012 Reference case provides the basis for examination and discussion of energy production, consumption...

"Market forces have propelled the progressive electrification of factories, offices, and homes for over a century. Electric motors and associated systems that convey and control the electricity they need, powered by onboard diesel generators, have likewise displaced mechanical alternatives in locomotives and monster trucks. High-power semiconductors developed in the 1980s are now being...

This report acknowledges that the growing ethanol market has broad policy failures. It states that "without appropriate information, incentives, and rules, the biofuels industry is likely to expand production in environmentally harmful ways." This report proposes an index to track the environmental effects of biofuels.

"From mid-September 2004 to mid-September 2005, gasoline prices increased a staggering 92 cents per gallon, to a national average of $2.79 per gallon, before dropping down to $2.48 on October 31. ... The recent price increases have led some to call for federal price controls for gasoline and/or related oil products as well as some form of windfall profits tax on the oil industry.

...

"Our energy crisis today is all about misguided government rules, regulations, and taxes that have endangered consumers, businesses of every size and type, U.S. competitiveness, and the economy.

At the international, national, state and local levels, government action has worked to distort and manipulate energy markets; override decisions made by consumers and suppliers; raise costs;...

"Abundant and affordable energy makes our lives better in innumerable ways. It heats our homes, lights our night, fuels our freedom to move, and brings us together by powering our communication systems. Affordable energy allows us to spend more of our money on our other needs, such as families, friends, entertainment, and investment. It also helps keep jobs in America by lowering the costs of...

"This publication reviews the history of U.S. ethanol policy, explains the economics of ethanol production in today's market environment, and outlines some policy alternatives that could be considered for the future."

"Budget deficits drove the conversation in Washington in 2011 with the daily news dominated by government shutdown threats, the 'super committee,' continuing resolutions, and arcane budgeting practices. Unfortunately, this left Americans convinced that government investments in the future are off the table because of large federal budget deficits that need to be reduced.

Americans were...

"In this environment, some have seized upon the 'Green Economy' as a cure for both the nation’s current economic ills, and as a way to address the issues of global warming and energy security. According to this view, government at all levels can use fiscal and regulatory measures to spur massive new investments in renewable energies and energy efficiency, which will create millions of new '...

"With the U.S. economy struggling, politicians are promoting renewable energy as a (clean) engine of unlimited growth. A number of studies have been published touting the job creation potential of renewable generation. But like a one-eyed accountant, those studies consider only one side of the economic ledger."

Lesser discusses some of the most egregious examples of "green jobs" and the...

"Many policymakers and pundits have made the case that the United States should become 'energy independent.' One economic interpretation of energy independence is that increased domestic energy production leads to greater risk sharing in the presence of imperfect capital markets. The wealth effects of energy production increase during peak oil shocks that help energy-producing states hedge...

"The Federal government provides a range of subsidies, tax incentives, and regulatory mandates to promote the use of ethanol and other renewable fuels into the national gasoline pool. ... Until recently, ethanol use was limited by law to a maximum of 10% of the gasoline pool, or as a specialty fuel at high levels of concentration (a 70-85% blend called E85) for use only in 'flex-fuel' vehicles...

"This paper discusses the lessons learned from electricity sector liberalization over the last 20 years. The attributes of reform models that have exhibited good performance attributes are identified, drawing on empirical analysis of market structure, behavior and performance in many countries. Wholesale and retail market competition and network regulation performance evidence are discussed....

"This paper analyzes the effect of energy price shocks on business cycle fluctuations in a model with monetary policy and a tax code that includes a tax on realized nominal capital gains. When the monetary regime allows energy price shocks to affect long run inflation expectations, the shocks have a large impact on output and hours worked because changes in the expected inflation rate change...

"This winter's unprecedented natural gas price rise--as much as 60 percent in some cases--demonstrates dramatically that the Natural Gas Policy Act (NGPA) fails to protect the consumer. Enacted in 1978, the NGPA was intended to restore some semblance of a free market in natural gas, while at the sametime protecting the consumer from sudden, sharp price hikes. Yet, these very NGPA regulations,...

"The rapid rise in commodity prices, most notably energy, in 2007–2008 sparked indignation in Congress and the public. It was widely asserted that speculation in commodity derivatives caused, or at least materially contributed to, the 100 percent rise in oil prices and the somewhat smaller, but still dramatic, rise in grain prices.

Despite the subsequent collapse in commodity prices...

This piece describes the economics of nuclear energy. "The first section, 'Costs,' examines what the economics for nuclear power have been and are projected to be. The second, 'Justifications,' examines the environmental, energy security, and political reasons why nuclear power’s relatively poor economic performance has been downplayed. The third section, 'Concerns,' explores the reasons why...

The NRDC argues that the cost of nuclear energy far outweighs the benefit. Some of these costs include; high construction costs making nuclear energy impractical, the creation of nuclear waste, the threat of terrorists stealing nuclear materials or attacking nuclear power plants, and foreign states utilizing peaceful uranium enrichment plants to create nuclear weapons. The NRDC argues other...

"This report presents the findings of the first stage of a longer research program that IHS CERA and IHS Global Insight are conducting to evaluate the pace of plan and permit approval in the post-moratorium environment in the Gulf of Mexico.

We found a growing backlog of plans pending approval and a sharp reduction in plan and permit approvals that indicate that the new regulatory...

"The Reagan Administration is proceeding with its plan to dismantle much of the Federal solar energy program as it existed under the Carter Administration. The objective is to reduce Federal expenditures and bureaucracy and to limit Federal involvement in program areas where the private sector can take over. The Administration contends that the market will be, and should be, the final arbiter...

"To be able to compare historical and alternative hypothesized responses of monetary policy to economic disturbances, one needs to select some interesting set of macroeconomic shocks to which policy is likely to respond. We focus primarily on oil price shocks, for two reasons. ... First, periods dominated by oil price shocks are reasonably easy to identify empirically, and the case for...

"Many politicians and pundits are panicked over the existing state of the oil and gasoline markets. Disregarding past experience, these parties advocate massive intervention in those markets, which would only serve to repeat and extend previous errors. These interventionists propose solutions to nonexistent problems.

This Policy Analysis reviews the academic literature relevant to these...

This paper claims that despite supporters hopes and dreams, the nuclear renaissance is simply cost inefficient. Examining historical data, current cost projections, relative cost of other alternatives, and finally other factors such as environmental or safety concerns, Mr. Cooper claims that costs in the future are increasing for nuclear power. He claims that for a carbon-constrained...

This paper argues that changes in the energy industry lead to proliferation concerns.

"Ironically, high oil and gas prices and the actions that must be taken to address climate change – namely, pricing carbon at a cost that will drive investment, new technology and conservation to control its emission – will drive another existential threat: the risk of nuclear proliferation. Higher...

"No one likes paying more for gasoline (except maybe folks who have always resented America’s relatively cheap gasoline, its SUVs, and other signs of bourgeois opulence), but government-imposed price restrictions would only make matters worse. By interfering in the market’s pricing mechanism, price controls simply hinder the ability of entrepreneurs and investors to provide the goods and...

The Price-Anderson Act capped liability for nuclear power plants and their supply chain. Dr. Brownstein argues this Act was a subsidy to the nuclear power industry and diverted resources from higher-valued production. He examines the history of Price-Anderson, explaining the changes of the bill in relation to the insurance industry and demands of the nuclear power industry. He then argues that...

"The gloomy, almost crisis-like outlook for the future of domestic natural gas in the late 1970’s set in motion a set of national-level energy initiatives for adding new gas supplies. Two of the most valuable of these were: (1) the joint government/industry R&D programs in tight gas, gas shales and coalbed methane by the Department of Energy’s Office of Fossil Energy (DOE/FE) that...

"Throughout our history, energy incentives have helped drive critical innovation, speed U.S. economic transitions, and helped shape our national character. Today, as we seek to move towards a more independent and clean energy future, the truth is that renewables—from a historical perspective—are if anything under-subsidized. This weak support is inconsistent with our nation’s own historical...

"Prof. Steve Horwitz addresses the common belief that the world is running out of natural resources. Instead, there are economic reasons why we will never run out of many resources. In a free market system, prices signal scarcity. So as a resource becomes more scarce, it becomes more expensive, which incentivizes people to use less of it and develop new alternatives, or to find new reserves of...

"$18.6 billion worth of direct financial subsidies were provided by the federal government to energy companies and organizations in 2009 – with the promise that such support would reduce America’s reliance on foreign energy sources, push technological breakthroughs, and ensure that Americans had access to reliable and affordable energy sources. Unfortunately, this approach has failed miserably...

"The Moritz Federalist Society is proud to host Author Tim Carney as he debates Professor Peter Swire on the topic of 'Are Government Regulations or Free Markets the Better Solution to America's Energy and Environmental Problems?' as part of the John Templeton Foundation's The Rule of Law and Wealth Creation debate series."

Parts...

"Dr. Robert Murphy explains the relationship between the Federal Reserve and Energy Markets in front the Committee on Government Oversight and Reform."

"On July 31st, 2011, a group of Democrat and Republican community leaders boarded a bus to travel an hour north to see, hear, and feel the negative effects of gas drilling.

This is the tour the gas companies don't want you to see.

Sure, there are a few millionaires made from gas drilling, but for every millionaire, there are countless other who are lied to, have their rights...

In this brief news clip, Patrick Michaels explains the extreme inefficiency of renewable energy such as wind and solar power. According to Michaels, government spending on energy sources such as these is wasteful.

"As Congress debates extending biofuel tax credits and the ethanol import tariff, questions are being raised about the broader policy mix that includes subsidies, tariffs, mandates, and sustainability standards. As a recent CBO report revealed, some of these policies — the Volumetric Ethanol Excise Tax Credit (VEETC) in particular — are quite expensive. Although biofuels were once hailed as a...

Cato Senior Fellow Jerry Taylor delivers a harsh critique of green energy advocates. What's more, he explains why government subsidies on behalf of renewable energy are currently a waste of taxpayer money.

"Residents and business people of Mansfield, Pennsylvania discuss the central role that the natural gas industry has played in creating jobs and boosting the local economy. Mansfield, PA can continue to see these economic benefits through continued exploration of the Marcellus Shale. "

"On the mountainous Wind River Indian Reservation in western Wyoming, cattle grazing in a valley share space with more than a hundred gas wells.

Pumps puff and click, like alarm clocks for long-time farmers and ranchers who wait for their Thursday deliveries from the Big Horn water truck.

The driver stacks up pyramids of five-gallon bottles at 19 stops. Encana Corporation, an...

"Canada is on the edge of an historic choice: to diversify our energy markets away from our traditional trading partner in the United States or to continue with the status quo.

Virtually all our energy exports go to the US. As a country, we must seek new markets for our products and services and the booming Asia-Pacific economies have shown great interest in our oil, gas, metals and...

After the successful militarization of nuclear power, Congress passed this legislation to promote peaceful nuclear power. This Act created the Atomic Energy Commission. It also established that the government controlled nuclear materials. However, the goal was to have private companies run nuclear power plants. As a result, all nuclear materials -- until the 1960's -- were on loan to private...

Approved by President Roosevelt in 1933, this code attempted "[t]o meet the emergency in the petroleum industry; to increase employment, establish fair and adequate wages, enlarge the purchasing power of persons related to this industry and improve standards of labor; to conserve the Nation’s petroleum resources and to prevent physical and economic wastes which demoralize the national market...

"I HAVE today issued a Proclamation adjusting and regulating imports of crude oil and its principal products into the United States.

The Voluntary Oil Import Program has demonstrated to me the willingness of the great majority of the industry to cooperate with the Government in restricting imports to a level that does not threaten to impair security. I commend them, and to me it is...

"A Bill To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate."

"Welcome to Part II of our hearings on the Environmental Protection Agency’s Mining Policies and the Environmental Protection Agency’s Assault on Appalachian Jobs.

The Appalachian region is being subjected to un-equal treatment under the law by the Environmental Protection Agency (EPA) for the arbitrary reason that it produces a domestic source of energy.

The United States...

"The bill recognizes that America is the world's leader in technology and that we've got to use technology to be the world's leader in energy conservation. The bill includes incentives for consumers to be better conservers of energy. If you own a home, you can receive new tax credits to install energy-efficient windows and appliances. If you're in the market for a car, this bill will help you...

"Resolved, That the House of Representatives should--

(1) provide no new energy subsidies by refusing any legislative proposal that includes new energy subsidy programs of any kind;

(2) prohibit the expansion or extension of existing energy subsidies;

(3) eliminate existing energy subsidies; and

(4) begin tax simplification and reform by eliminating energy tax...

"For the first time, it will allow private ownership in the United States of special nuclear materials--the materials used as fuels for nuclear plants.

We have made the most substantial progress in this Nation since 1954 in developing peaceful application of atomic energy particularly in the generation of electric power with nuclear reactors.

The new law recognizes that great...

"To amend the Internal Revenue Code of 1986 to encourage alternative energy investments and job creation."

"As we sit here today there are approximately 440 commercial nuclear reactors operating around the world. One hundred and four of them are operating in this country alone. With the exception of a few highly publicized and, I might add, mostly misunderstood, accidents, these reactors have operated safely, cleanly, and to the benefit of society for most of their lifetimes.

This is not to...

In a speech at Georgetown University, President Obama outlined his energy policy for the nation. While past presidents have continually argued for the need to reduce America's dependence on foreign oil, President Obama urged reduction on all oil dependency. Furthermore, the President condemned the idea that increased domestic oil drilling will solve the energy problems the nation faces.

"The use of horizontal drilling in conjunction with hydraulic fracturing has greatly expanded the ability of producers to profitably recover natural gas and oil from low-permeability geologic plays—particularly, shale plays. Application of fracturing techniques to stimulate oil and gas production began to grow rapidly in the 1950s, although experimentation dates back to the 19th century....

In a speech accepting his party's nomination to run for the presidency, Ronald Reagan described Jimmy Carter's approach to energy policy as "weak" and "based on the sharing of scarcity." Reagan went on to encourage innovation and less regulation in the American energy sector.

In Executive Order 12287, President Reagan overturned price controls on domestic oil production. This statement describes President Reagan's reasons for this move, one of them being the fact that "[p]rice controls have ... made us more energy-dependent on the...

The NRDC's testimony deals with nuclear subsidies, spent fuel reprocessing, and nuclear waste. They argue loans should only be available to radically new nuclear power plants. This is to offset first-mover costs. They claim the current loan system amounts to subsidizing a mature industry. Secondly, they argue that reprocessing is not currently feasible and the government should table this...

"Despite growing political and public support for nuclear power, progress toward actually building any new plants has been a struggle. While the blame for this stagnation often goes to inefficient government subsidy programs, the real problem lies in why those subsidies are necessary to begin with. Chief among these structural problems is the nation’s incoherent nuclear waste policy....

Part 1 of the Energy Security Act of 1980, Pennsylvania State University declares that this act "[e]stablished the Synthetic Fuels Corporation (which only existed until 1985) for the purpose of partnering with industry for the creation of a market for domestically-produced synthetic liquid fuels; moved research and...

"I am pleased to be here today to participate in your hearing on the challenges and opportunities related to the potential development of unconventional oil and natural gas resources. As you know, fossil fuels are important to both the global and U.S. economies, and among other things, we rely on oil to fuel our transportation vehicles and on natural gas to a significant extent to heat and...

"Everybody is talking about 'energy independence.' But is it really achievable-or even desirable? In this controversial, meticulously researched book, Robert Bryce exposes the false promises and political posturing behind the rhetoric. Gusher of Lies explains why the idea of energy independence appeals to voters while also showing that renewable sources like wind and solar cannot meet...

"The Center works in coalition with other think-tanks and businesses to change the energy security future for America, through development of new technologies and infrastructure, changed policies to reduce dependence on foreign and adversarial suppliers, and new initiatives to develop U.S. resources."

"Competition will continue to be one of the dominant issues facing the electric power industry. EPSA members support policies that give all suppliers an equal opportunity to compete and give all customers an equal opportunity to reap the benefits of competition."

"Americans are increasingly concerned about energy. Demand is increasing faster than supplies while much of the world’s oil is delivered in a restrictive market dominated by unstable or hostile nations. Meanwhile, many Americans harbor misunderstandings and myths about energy, the environment, and market forces. They want low prices and plentiful supply, but resist steps that must be taken to...

"The Institute for Energy Research (IER) is a not-for-profit organization that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets. IER maintains that freely-functioning energy markets provide the most efficient and effective solutions to today’s global energy and environmental challenges and, as such, are critical to the...

"MasterResource is a blog dedicated to analysis and commentary about energy markets and public policy.

Precisely because energy is the lifeblood of the modern economy – the 'master resource' that affects the production and use of all other resources – energy markets are often thought of as 'different' and thus deserving of special political direction. We believe that the economic rules...

"Demand is increasing faster than supplies while much of the world’s oil is delivered in a restrictive market dominated by unstable or hostile nations. Meanwhile, many Americans harbor misunderstandings and myths about energy, the environment, and market forces. They want low prices and plentiful supply, but resist steps that must be taken to achieve these goals. They want to protect the...