Led by gasoline and seasonal demand for heating fuels, U.S. petroleum demand hit 20.3 million barrels per day in February.
Thirty-nine US senators urged the Trump administration to use all tools at its disposal - including a provision in the 2017 Countering America's Adversaries Through Sanctions Act (CAATSA) - to prevent construction of the Nord Stream 2 natural gas pipeline.
New studies project that offshore energy development will significantly increase U.S. jobs, domestic spending, investments and state revenues
Atlantic OCS - $260 billion. Pacific OCS - $160 billion. Eastern Gulf OCS - $118 billion. Alaska OCS - $53.4 billion.
"Ultimately, the studies confirmed... opening the currently restricted areas would increase economic benefits, not only specifically for the coastal regions near the offshore development, but also nationally as well..."
"Interior should not be in the business of being an adversary. We should be in the business of being a partner,"
The shale revolution has altered geopolitical paradigms making the U.S. an ally of "all nations seeking energy security", according to Secretary of Energy Rick Perry.
Oil and natural gas aren't just fuels. They supply building blocks for pharmaceuticals; plastics in vehicle bodies... and complex composites in solar panels and wind turbine blades and nacelles. The USA was importing 65% of its petroleum in 2005, creating serious national security concerns. But fracking helped cut imports to 40% and the US now exports oil and gas.
Vets group says politicians shouldn't stand in the way of new, upgraded pipeline systems that strengthen national security.
The No. 1 overall message, non-OPEC supply growth is very, very strong, which could change the parameters for the oil markets in the years to come, led by the United States...
Rising U.S. shale oil production will overwhelm the nation's refining capacity, with three-quarters of the additional oil produced in the United States by 2023 shipped to Europe and Asia, according to a new study by consultancy Wood Mackenzie.