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Institute for Energy Research Founder and CEO Robert Bradley published the following op-ed last month in the Findlay Courier on the University of Dayton’s decision to divest from fossil fuels: Citing “the negative consequences of climate change,” the board of Trustees of the University of Dayton (UD) recently voted to divest its oil, natural gas, and […]
Senator Edward J. Markey provided the Institute for Energy Research (IER) with questions for the record after the hearing he held on “U.S. Security Implications of International Energy and Climate Policies and Issues” on July 22, 2014. Below are IER’s responses to those questions: I have responded to each of the questions from Senator Markey […]
A recent assessment from the Bureau of Ocean Energy Management (BOEM) found that there has been a 42 percent increase in technically recoverable oil and a 20 percent increase in technically recoverable gas[1] in the Atlantic Outer Continental Shelf (OCS) since 2011, when the last assessment was conducted. This amounts to a mean of 4.72 […]
The U.S. oil boom is helping U.S. manufacturers, including refiners, by producing low-cost energy to help American companies compete in a global economy. The latest example of this is a recent report by the Energy Information Administration (EIA) that compares the profitability of American and European refiners over the past 10 years. EIA’s analysis shows […]
For decades, the American presidents and congress have promised to reduce our dependence on foreign oil (as you can see in this video below): Promises were made to reduce imports of foreign oil by everything from cellulosic ethanol to solar energy. None of these big-government programs worked. After the oil shocks of the 1970s, U.S. […]
U.S. oil production averaged 7.5 million barrels per day (bpd) in 2013, reaching the highest levels since 1989, according to new data from the Energy Information Administration (EIA). Domestic oil production hit 7.9 million bpd in December 2013, an 11 percent increase compared to December 2012. The following chart shows U.S. oil production between 1989 and 2013. Meanwhile, on the […]
On the sixth anniversary of the expansion of the Renewable Fuel Standard (RFS) in 2007, the Renewable Fuels Association (RFA) issued a “celebratory” document explaining why they were so thrilled with the mandates on American refiners. The funny thing is, we don’t need to consult outside sources to see what’s wrong with the RFS or […]
United States oil production has passed yet another milestone, reaching its highest level in 25 years. According to the EIA, the oil industry produced 8.075 million barrels per day in the first week of December, the most since October of 1988. This increase in production is largely occurring on state and private lands and has […]
As we have explained on these pages before, the Renewable Fuel Standard (RFS) amounts to a massive subsidy for the ethanol industry. By forcing refiners to purchase and blend rising volumes of biofuels, regardless of whether it makes economic sense, the RFS provides ethanol producers guaranteed demand for their product. To protect their mandate, the […]
In a letter to EPA Administrator Gina McCarthy, members of Congress are urging the EPA to reduce the required biofuel volumes under the Renewable Fuel Standard (RFS) for 2014. The letter, signed by more than 150 members from both parties, correctly points out that the RFS is a flawed policy, based on faulty assumptions, that […]