Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Natural Gas | Oil

API warns battleground voters of economic impact of fracking ban

Oil | Crude Oil | Coronavirus

What US shale will have to do to survive the demand shock and reinterest investors

LNG | Natural Gas | NGL

Platts LNG Alert

Capital Markets | Commodities | Oil | Crude Oil | Refined Products | Fuel Oil | Gasoline | Jet Fuel | Naphtha | Marine Fuels | Equities | Financial Services | Banking | Non-banks | Private Markets

North American Crude Oil Summit, 3rd annual

Coal | Coking Coal

AK Steel to close coking coal mine after no buyer found

API warns battleground voters of economic impact of fracking ban


US would return to net oil importer by 2030: API study

S&P Global Platts Analytics sees 300,000 b/d in oil supply risks

Washington — The American Petroleum Institute launched an ad campaign Thursday to warn voters in US battleground states that Democratic presidential candidates' proposals to ban fracking could trigger a recession and job losses across all sectors of the economy.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Democratic front-runner Bernie Sanders and other candidates have proposed ending oil and gas leases on public and private lands, but a full fracking ban is seen as unlikely to pass Congress and survive legal challenges.

A study commissioned by API found that banning fracking nationwide -- representing 95% of current US oil and gas wells -- would cut household incomes by $5,400/year and increase household energy costs by at least $600/year. The study said the US would flip from net oil exporter to importing more than 40% of its crude and refined products by 2030.

In January, Sanders and other lawmakers introduced in Congress the Ban Fracking Act, which would phase in a ban on hydraulic fracturing and immediately block all federal permits on "fracked" oil and natural gas infrastructure, including pipelines, ethane crackers and LNG export terminals.

The bill appears unlikely to become law and would be subject to years of legal challenges if it ever did, but its introduction marked the most extensive legislative proposal to hamper domestic oil and natural gas growth.

API officials said they also doubt a full fracking ban will be implemented, but "we're not taking anything for granted," said Frank Macchiarola, senior vice president of policy.

"This fracking ban hasn't just been introduced by an obscure congressman from Vermont," said API President Mike Sommers. "This fracking ban has been introduced by the leading presidential candidate on the Democratic side of the aisle, and that's why we're taking it very seriously. ... It's the center-point of many people's campaigns for president."

Sommers added that ending oil and gas leasing on just federal lands would have significant impacts, particularly in New Mexico.

Platts Analytics views a full ban on US oil and gas production as improbable, but believes a number of policies being pushed by Democratic presidential candidates, including federal permitting prohibitions and emissions regulations, would deter 1.6 million b/d of oil and 2.4 Bcf/d of gas growth.

Platts Analytics currently forecasts US oil output to grow to 14.3 million b/d by 2024 and gas to reach 100 Bcf/d over the same time frame, but a Democrat in the White House could cut that to 12.7 million b/d by 2024, roughly 300,000 b/d below where it is now, and natural gas production to about 97.5 Bcf/d.