Posts tagged ‘Energy Independence’

January 5, 2012

Oil prices: What happens if Iran shuts down the Strait of Hormuz? – CSMonitor.com

Oil prices: What happens if Iran shuts down the Strait of Hormuz? – CSMonitor.com.

If the rhetoric doesn’t calm down, it may not be long before the price of oil moves into the $110- to $125-a-barrel range, energy analysts say.

At issue is a significant amount of the world’s oil that moves by sea. In 2011, about 17 million barrels of oil per day, or about 35 percent of the world’s seaborne traded oil, moved through the Strait of Hormuz, the US Energy Information Administration estimates. Much of this oil flows to AsiaJapan, China, India, and other emerging economies. But some of the oil flows to Europe, and a relatively small amount – some 1.1 million barrels per day – goes to the United States.

January 5, 2012

Oil Price Would Skyrocket if Iran Closed the Strait of Hormuz – Yahoo! Finance

Oil Price Would Skyrocket if Iran Closed the Strait of Hormuz – Yahoo! Finance.

HOUSTON — If Iran were to follow through with its threat to blockade the Strait of Hormuz, a vital transit route for almost one-fifth of the oil traded globally, the impact would be immediate: Energy analysts say the price of oil would start to soar and could rise 50 percent or more within days.

November 9, 2011

gulfnews : Race to find alternate energy source heats up

gulfnews : Race to find alternate energy source heats up.

It is a major issue for Western countries too, as a recent report by the CNA military advisory board illustrated recently. The report urges the US to cut oil use by 30 per cent over the next decade to reduce grave national security risks.

The report claims that Washington’s reliance on imported oil is a “weak point in national security,” considering that the closure of the Strait of Hormuz for 60 days, for example, would affect prices and jobs in the US.

October 20, 2011

Ethanol Producer Magazine | EthanolProducer.com

Ethanol Producer Magazine | EthanolProducer.com.

Calling their industries’ relationship a “productive and cordial” one, Renewable Fuels Association President and CEO Bob Dinneen and Mitch Bainwol, CEO of the Alliance of Automobile Manufacturers, issued a joint statement from the RFA’s annual meeting in Washington, D.C., asserting the two groups’ commitments to implementing renewable fuel technologies throughout the U.S. But while some progress has been made in getting the two industries to agree on certain items, the groups remain divided on many important issues.

“Both the automotive and ethanol industries are defined by their constant innovation and evolution,” the pair stated. “We firmly believe that America can secure its energy future and create jobs by investing in new vehicle and fuel technologies that harness the innovative power of American workers to redefine how we power our cars. Despite current differences over how to best increase the amount of ethanol included in America’s fuel supply, automotive and ethanol interests all agree that renewable fuels are a path down which American must head.”

September 13, 2011

Report: Increased Energy Production Would Boost Jobs, Federal Revenue – Lachlan Markay

Report: Increased Energy Production Would Boost Jobs, Federal Revenue.

Energy research firm Wood Mackenzie released a report on Wednesday that lends weight to arguments for greater energy exploration and production in the United States. The economic effects of such a policy, the report asserts, would be uniformly positive.

The report summarizes its findings thusly:

Wood Mackenzie’s analysis found that U.S. policies which encourage the development of new and existing resources could, by 2030, increase domestic oil and natural gas production by over 10 million boed [barrels of oil equivalent per day], support an additional 1.4 million jobs, and raise over $800 billion of cumulative additional government revenue. Whereas increasing regulatory burdens on the oil and gas upstream sector will result in higher development, costs which can potentially hinder the growth of production tax revenues and job creation.

September 6, 2011

Guest Column: Energy policy should focus on becoming energy independent – Opinion – Heritage Newspapers

Guest Column: Energy policy should focus on becoming energy independent – Opinion – Heritage Newspapers.

Today, America is under tremendous financial pressure due to our continued federal policies to spend more money than our government brings in. We hear all about entitlement reform and “belt tightening” plans, but energy is mostly ignored.

But, do you realize that America sends one half a trillion dollars to other countries every year in the form of oil imports which contributes to our crisis?

September 2, 2011

Open Fuel Standard: The Answer is Multiple Choice – Lilly Sherman

Open Fuel Standard: The Answer is Multiple Choice.

We have to stop looking for a single fuel or a single way to become energy independent. Oil is one thing. The answer will be many things. People may argue methanol is better than ethanol, or only certain ways of making fuel are acceptable, or all cars should be electric or natural gas, or hydrogen is better.

But nobody can say any one thing can replace oil. We need all these ways. And we need cars that can handle all sorts of fuel and power: A flex-fuel plug-in hybrid, for example.

August 31, 2011

Ethanol: U.S.-produced fuel is leading oil alternative – baltimoresun.com – Stephanie Dreyer

Ethanol: U.S.-produced fuel is leading oil alternative – baltimoresun.com.

Karen Hosler’s recent opinion piece calling for an end to ethanol subsidies (“End the ethanol charade,” Aug. 30) uses sweeping generalizations that distort the truth about grain ethanol’s role in fostering America’s energy independence and producing food as well as fuel.

Domestic ethanol is the single-best alternative to foreign oil we have today. In 2010, ethanol reduced imports by 445 million barrels of oil — more oil than we import from Saudi Arabia. And America’s ethanol industry helped reduce farm subsidy payments by $10.1 billion, added $53.6 billion to the economy and reduced gas prices by $34.5 billion.

August 30, 2011

Biofuels Make a Comeback Despite Tough Economy | Energy content from Corn and Soybean Digest

Biofuels Make a Comeback Despite Tough Economy | Energy content from Corn and Soybean Digest.

Global production of biofuels increased 17% in 2010 to reach an all-time high of 105 billion liters, up from 90 billion liters in 2009. High oil prices, a global economic rebound and new laws and mandates in Argentina, Brazil, Canada, China and the U.S., among other countries, are all factors behind the surge in production, according to research conducted by the Worldwatch Institute’s climate and energy program for the website Vital Signs Online.

The U.S. and Brazil remain the two largest producers of ethanol. In 2010, the U.S. generated 49 billion liters, or 57% of global output, and Brazil produced 28 billion liters, – 33% of the total. Corn is the primary feedstock for U.S. ethanol, and sugarcane is the dominant source of ethanol in Brazil.

August 30, 2011

Open Fuel Standard: Putting the Free Market to Work in the Interests of National Security – Thomas Buonomo

Open Fuel Standard: Putting the Free Market to Work in the Interests of National Security.

While domestic energy policy is not a silver bullet, it can help extricate the United States from foreign entanglements that have long confounded American decision-makers. History’s painful lessons offer us the power to move our elected officials to act in the interest of renewed economic vitality and national security. From the tragedy of U.S.-Middle East relations is born opportunity.