National Petroleum News (NPN) has been the independent voice of the petroleum industry since 1909 as the opposition to Rockefeller’s Standard Oil. So, motor fuels marketing and retail is not just a sideline for us, it’s our core competency.
Issue link: https://read.dmtmag.com/i/108236
MARKETING & SUPPLY by debraReSCHKe-SCHUg Actions now could plot the direction of world energy for decades to come 201 eneRgY anD fUelS POlICY RePORT A s the state oF the Larger eConomy spotty with some possible, but scattered bright spots, the energy industry seems rather positive. This is largely due to the boom happening in the natural gas sector. "We have a game-changing opportunity to make the U.S. the global leader in energy," said the American Petroleum Institute's president and CEO Jack Gerard in an address at the API's 2013 State of American Energy event on Jan. 8, 2013. "If we seize the opportunity now, we will be positioned to lead for decades and realize the economic and energy security benefits of that leadership." remains The excitement in the oil and energy industry over shale gas production is palatable in many of the addresses and reports being released in the last few months. At the National Association of Convenience Stores' trade show this past October, many of the natural gas products in the petroleum area were attracting a lot of attention and were the subject of a few seminars on the future of fuels retailing. GE and Chesapeake Energy launched 24 JaNuary/February 2013 their CNG In A Box system, which is designed for easier adoption of compressed natural gas refueling options for large-and small-scale retailers. The Energy Information Administration's early release overview of the Annual Energy Outlook 2013 is very heavy on natural gas projections. Some of the highlights from that report include a sharp rise in crude oil production over the next decade, due to advanced technologies focusing on onshore production, particularly from shale and other tight formations. This lifts their projected domestic supply, with annual growth averaging 234 thousand barrels per day through 2019. EIA also projects the increased use of natural gas in the industrial and electric power sectors in the next 15 years because of the growth in production and low gas prices. These low prices also encourage the prediction of industrial production expanding in response to the initial competitive advantage. This growth was also reflected in the comments of API's Gerard. "Manufacturing can and is returning to the United States; Shell, Dow, U.S. Steel and others have all announced or are considering moving manufacturing to the U.S., or planning expansions here at home, for the first time in many years," he said. "These decisions are driven by the availability of reliable and affordable energy." Moreover, growth in diesel fuel consumption is projected to be moderated due to increased use of natural gas in heavy-duty vehicles. "The improved economics of liquefied natural gas (LNG) for heavy-duty vehicles results in an increase in natural gas use in heavy-duty vehicles that offsets a portion of diesel fuel consumption," reports the EIA. Natural gas exports, according to the EIA's report, will be larger for the U.S. than previously projected. "Producing more domestic energy provides opportunities for the U.S. to increase its exports and serve new markets," said Gerard. "By developing new technologies to access potential new sources, like oil shale, we will be able to dramatically increase our energy potential and role as the NPN Magazine n www.npnweb.com