July 18, 2013
The news on energy growth is being reported favorably by Energy U.S. Energy Information Administration. The data supports growth as firms pull back in China in oil and gas. The growth in natural gas is rising as “The U.S. Energy Boom Is Still On” fueling upward trending. For energy followers this is good news yet, as energy booms price of fuel rises.
“This week’s Energy Information Administration report released Wednesday, the U.S. energy boom is continuing its upward climb. While petroleum imports ticked up slightly over the last week by 189,000 barrels per day, the average still remains 7.7 million for the week, 1.1 million less than last year, according to the report,” by Wall Street Cheat Sheet. A separate report by the EIA found that while the number of refineries has ticked down in the United States, operating capacity is actually trending upwards.”
“Demand seems to have increased, in line with the International Energy Agency’s (IEA) global forecast. Crude inventories decreased by 6.9 million over the last week, and the total amount of petroleum products supplied over the past four weeks was 19.5 million barrels per day, a 3 percent increase from the same period last year” despite gas prices are rising based on external factors laid at the feet of the tensions in Egypt.”
The rising in energy is a national concern for infrastructure and support. The current Administration seeks to fast track infrastructural development and projects. The cost of fuel is rising by another $0.15 cents as production increased. The cost of fuel is integral to the supply chain, materials, manufacturing, as well as costs. Consider the dominoes that fall as prices escalate impacting economic development, sustainability and jobs.
- Fracking pushes U.S. oil output to highest since 1992 (fuelfix.com)
- US Gulf Oil Profits Lure $16 Billion More Rigs by 2015 – Bloomberg (bloomberg.com)
- Opinion: Lift the ban on U.S. oil exports (fuelfix.com)
- Shale skeptics take on Pickens as gas fuels policies (fuelfix.com)
- AAA: $3 gas ‘a thing of the past’ (thehill.com)
- Oil fueling North Dakota’s economic boom (upi.com)
- Ten States Producing Most of the Nation’s Energy (247wallst.com)