Archive | May 2015

MEMORIAL DAY TRAVEL MORE AFFORDABLE THANKS TO U.S. ENERGY RENAISSANCE !

Memorial Day travelers and the businesses that cater to them are reaping the benefits of increased U.S. oil and natural gas production, said API Chief Economist John Felmy.

“As we head into the Memorial Day weekend, motorists are getting some welcome relief at the pump,” said Felmy on a press conference call today. “Thanks to hydraulic fracturing and horizontal drilling, the U.S. is experiencing a renaissance in domestic oil and natural gas production. The benefits for U.S. consumers – as well as manufacturers, the travel and tourism industry and frankly our entire economy – are hard to overstate.”

The national average price of gasoline is about $1 per gallon less than it was at this time last year, according to AAA.

“Government policymakers should not take these things for granted,In order to maintain a robust supply of domestic oil, it is essential that the industry be allowed to explore for and develop new resources.” – John Felmy

“That means companies must be able to lease acreage and obtain permits in a timely fashion. It also means the federal and state governments should avoid punitive tax regimes that would cause energy companies to look elsewhere for the best opportunities.
“Geopolitical turmoil that takes foreign oil supplies offline can be difficult to predict or control, but the U.S. will always have control over how much energy we produce here at home. With the right policies, our energy renaissance can endure for decades and help even more families afford to take a vacation on Memorial Day weekend.”

API represents all segments of America’s oil and natural gas industry. Its more than 625 members produce, process, and distribute most of the nation’s energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy.

SAFE HARBOR STATEMENTS:
Certain statements in this blog post may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release and other potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statement.

OIL Set for biggest monthly gain since 2009!

original

(Reuters) – Oil headed for the biggest monthly advance since May 2009 as U.S. crude production growth slowed and inventories declined at the nation’s largest storage hub.
Oil has rebounded from a six-year low in March as drillers cut the rig count to the fewest since 2010, adding to signs that the surplus glut of U.S. crude stockpiles is declining.

West Texas Intermediate for June delivery was at $59.70 a barrel in electronic trading on the New York Mercantile Exchange, up 7 cents, at 11:51 a.m. Sydney time. The contract gained $1.05 to $59.63 on Thursday. The volume of all futures traded was about 70 percent below the 100-day average. Prices are up 12 percent this year.

U.S. Stockpiles

Brent for June settlement was 9 cents lower at $66.69 a barrel on the London-based ICE Futures Europe exchange. The contract rose 21 percent in April, also the most since May 2009. The European benchmark crude was at a premium of $6.99 to WTI, compared with $8.13 on April 24.

READ FULL ARTICLE HERE

Aschere Energy is Currently drilling in “a World Class Producing Region” , Click here to receive information on our Latest Project.

SAFE HARBOR STATEMENTS:
Certain statements in this blog post may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release and other potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statement.