With an attempt to boost the shipbuilding industry in the U.S., the Energizing American Shipbuilding Act has been reintroduced with bipartisan support. It is being supported by Senator John Wicker (R-Mississippi) and Congressman John Garimendi (D-California). This act would require 15 percent of liquefied natural gas (LNG) exports be moved by U.S. crewed and built tankers by the year 2041. It also applies to 10 percent of seaborne crude exports by the year 2033. During this same time, the act would also require an additional 50 U.S. ships be built during the same time-frame. Wicker and Garimendi are supporters of the Jones Act – where cargo ships transporting goods between U.S. ports must be built, owned and operated by U.S citizens.
Alternative energy is certainly an interesting concept in many aspects. Often referred to as “Clean Energy,” alternatives can also include solar, wind and water based production. As our current world tries to push for a change on how power is sourced, there has been an effort and an investment to change from fossil fuels, such as coal, oil and natural gasses towards alternatives to create sustainable and inexpensive options for energy production.
The Shale Crescent is located in the Ohio Valley and is the epicenter of the Marcellus and Utica Shale play. The natural resources make the region a potential economic powerhouse.
The United States Department of the Interior announced a revision last week about an increase in the potential production in the Wolfcamp Shale and Bone Spring Formation. The announcement stated, two underground layers in the Delaware Basin in the Permian shale play of West Texas and New Mexico, contain 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas and 20 billion barrels of natural gas liquids. This represents the largest pool of oil and gas reserves anywhere in the United States. The Permian is already the driving force in production hitting an all-time high in November of 11.7 million barrels per day (bpd) as it is the biggest producer and boasts the quickest rate of production at 3.63 million bpd.