Where Energy Stands Florida Chamber of Commerce Energy Summit gy
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Where Energy Stands Florida Chamber of Commerce Energy gy Summit September 19, 2011 David Mica Executive Director Florida Petroleum Council www.energytomorrow.org Florida Petroleum Council Division of the American Petroleum Institute Represent All Segments of the Petroleum Industry 9 Exploration 9 Production 9 Refining 9 Transportation 9 Retailing Long-term Energy Policy Focus on: Energy Security Jobs Government Revenues Efficiency y Improves… p Better efficiency is projected to reduce d global l b l energy d demand d growth by almost 65 percent through 2030… …Demand D d Increases I (Quadrrillion Btu) TOTAL ENERGY CONS SUMPTION Total Energy Consumption Source: EIA May 2008 Monthly Energy Review 2007 U.S. Energy Independence and Security Act Billions of Gallo ons 40 35 30 25 20 15 10 5 0 2008 2010 2012 2014 2016 2018 Year 100 million gallons 250 million gallons Renewable Biofuel Cellulosic Biofuel 500 million gallons Biomass Diesel Advanced Biofuel 2020 2022 Long term world oil demand forecast 120 China India Non-OECD Asia* Million barrels perr day 90 United States 60 Rest of World 30 0 1990 2003 2010 Source: International Energy Organization, 2006 2020 2030 Keystone XL Pipeline $7 billion project Extends pipeline from Alberta, Canada to Gulf coast refineries – major source of Florida gasoline and diesel Increase oil imports from 2 million barrels/day up to 5 million barrels/day by 2030 Generate 20,000 construction jobs 2,400 American companies in 49 states involved in the development of Canada’s oil sands Alternative/complementary supply source during hurricane season Questions?? Focus on: Energy Security Jobs Government Revenues Florida Oil and Gas Production History Jayy (1970) Blackjack Creek (1972) West Felda ((1966)) Bear Island (1972) 1970’s: Florida ranked 9th in state oil production More than 607 million barrels of oil produced $10.1 million in state revenues in 2010 – increase of 158% over previous year Sunniland (1943) Raccoon Point (1978) 13 Source: Florida Trend / Florida Public Service Commission 3 Trillion Cubic Feet of Natural Gas Powers Tallahassee for 140 years
