Once a generation something odd happens to US energy debates — they capture the national attention. Normally, high gas prices are the culprit. Today, the fascination is more good news than bad. An American energy boom is creating jobs, improving national security and to some extent, cleaning the air. What happens next is the subject of today’s show.
Ahead of the Bloomberg New Energy Finance summit beginning April 7th, we have pulled together a panel of Bloomberg’s energy experts, to discuss some of these issues. On this version of Bloomberg 360: Energy, Eric Roston (@eroston), Bloomberg Sustainability Editor sits down with Rob Barnett ( @barnettenergy), Bloomberg Government’s Senior Energy Economist, Barbara Pomfret, Bloomberg Industries’ Environment Social & Governance Analyst, and Ethan Zindler (@ethanall), Bloomberg New Energy Finance Head of Americas.
Join the conversation on Twitter: #BNEF2014.
In Part 1 of Bloomberg 360: Energy, Bloomberg experts address America’s energy revolution. Technology has reshaped the U.S. energy landscape. The combination of horizontal drilling and hydraulic fracturing technologies helped U.S. natural gas production reach an all-time high in 2013. Likewise, U.S. oil production has reversed its long-term decline; over the last two years U.S. production increased by nearly 30 percent.
These trends have reduced America’s reliance on foreign energy supplies. For example, the U.S. currently relies on imports to meet about 34 percent of its total oil demand, compared with more than 60 percent in 2005. And there are now serious discussions in Washington about ending the decades-old oil export ban.
The boom in oil and gas production has had its fair share of criticism as well: there are concerns about fracking’s impact on water, and increased fossil fuel production doesn’t sit well with those concerned about climate change. The fight over the Keystone pipeline also has been centered on climate change; in fact, U.S. climate policy has been a key component of President Obama’s overall approach to energy.
The Environmental Protection Agency has been very active under President Obama by developing a number of regulations aimed at reducing greenhouse gas emissions from cars, trucks and power plants. Forthcoming EPA regulations, expected this June, could slowly squeeze coal out of the U.S. energy mix thus making room for more renewable power and more use of natural gas-fired electricity.
These issues, and more, are debated in Today’s Bloomberg 360 panel discussion with Bloomberg energy experts Eric Roston (@eroston), Barbara Pomfret, Ethan Zindler (@ethanall) and Rob Barnett (@barnettenergy). What do you think about America’s shifting energy landscape? Join the conversation on Twitter: #BNEF2014.
Rob Barnett walks through the US electricity by fuel type. US Gas and diesel exports have more than tripled since 2005.
Water-stressed fracking sites pose problem for shale growth explains Barbara Pomfret.