Energy: Angola v. Alaska ….and America

By December 1, 2006Energy

The BBC, November 30:

Angola has announced it is to apply to join oil producers’ group Opec, a move that, if successful, should boost the African nation’s global profile.

The Angolan oil ministry said the country hoped to become Opec’s 12th member by March, adding that it would produce “deep financial advantages”….

“Angola is joining because revenues are rising so spectacularly fast at the moment that it gives it more influence on the world stage,” said Nick Shaxson, Angola head at the UK-based Chatham House think-tank.

The Billings Gazette, November 29:

Just more than half of the oil and 27 percent of natural gas on 99 million acres of federal land is off-limits to leasing, according to a federal report released Tuesday.

Much of that, however, is in Alaska….

In the Rocky Mountains, 18 percent of oil is accessible under normal leases and another 69 percent could be accessed if companies comply with additional rules and restrictions, the study said. The figures are roughly the same for natural gas.

The most recent report shows significantly more land in the category of accessible but with restrictions – a change the BLM chalks up to more accurate reporting compared to the 2003 study.

Those restrictions are keeping the United States from increasing its domestic supplies, said Marc Smith, director of the Independent Petroleum Association of Mountain States.

“If we keep the current access restrictions in place, the price will continue to increase as well as dependence on foreign oil and gas,” Smith said. “It’s the access and uncertainty issues that are limiting investment.”

NAM news release, August 28:

While the National Association of Manufacturers’ annual Labor Day Report is good news for manufacturers, soaring energy costs are hurting manufacturing workers at the pump and in their paychecks. “The report provides a snapshot of the U.S. economic performance over the past year,” said John Engler, the NAM’s president and CEO. “It illustrates the need for energy reform to become a national policy.”