Nearly everyone recognizes that prudent development of domestic oil and natural gas resources will continue to be an important part of U.S. energy strategy for decades to come. How important depends a lot on conducting operations responsibly, ensuring communities are safe and the environment protected as the nation maximizes use of this vital domestic energy resource.
President Obama’s FY 2015 budget seeks $711.0 million for the Office of Fossil Energy (FE) to advance technologies related to the reliable, efficient, affordable and environmentally sound use of fossil fuels as well as manage the Strategic Petroleum Reserve and Northeast Home Heating oil Reserve to provide strategic and economic security against disruptions in U.S. oil supplies. The request includes $475.5 million for Fossil Energy Research and Development, $205.0 million for the Strategic Petroleum Reserve, $1.6 million for the Northeast Home Heating Oil Reserve and $19.95 million for the Naval Petroleum Reserves.
The Department of Energy announced the conditional authorization for Freeport LNG Expansion, L.P. and FLNG Liquefaction, LLC to export liquefied natural gas to countries that do not have a Free Trade Agreement with the U.S. This is the fifth conditional authorization the Department has announced.