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Keyword: energy

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  • Israeli car engine could halve fuel costs, emissions

    04/29/2016 10:51:22 AM PDT · by DJ Taylor · 86 replies
    The Times of Israel ^ | April 27, 2016 | David Shamah
    Aquarius’s new take on internal combustion engines will be the big leap forward that vehicles need, says company founder. The notoriously conservative car business – autos, after all, are still largely powered by the internal combustion engine, developed nearly 150 years ago – is in for big changes, according to Gal Fridman, chief marketing officer and co-founder of Aquarius Engines. “Our enhanced engine design uses energy much more efficiently, and eliminates the valves and rods that cause energy loss,” he said. “If a car equipped with a modern standard internal combustion engine can go about 600 kilometers on a tank...
  • Methane hydrate joins shale gas and deep sea gas

    03/20/2013 5:04:22 PM PDT · by Fractal Trader · 17 replies
    Times of London via www.mattridley.co.uk ^ | 16 March 2013 | Matt Ridley
    The gas age is good news Published on Saturday, March 16, 2013, updated Saturday, March 16, 2013 Methane hydrate joins shale gas and deep sea gas I have the following article in the Times on 15 March:   Move over shale gas, here comes methane hydrate. (Perhaps.) On Tuesday the Japanese government’s drilling ship Chikyu started flaring off gas from a hole drilled into a solid deposit of methane and ice, 300 metres beneath the seabed under 1000 metres of water, 30 miles off the Japanese coast.   The real significance of this gas flare probably lies decades in...
  • $500 Billion In Lost Oil Revenues Forces Gulf Nations To Turn To Debt Markets

    04/28/2016 2:24:51 PM PDT · by bananaman22 · 9 replies
    The International Monetary Fund (IMF) has projected a whopping $500 billion loss in revenue for the Gulf nations in 2016, which is 30 percent more than the $390 billion lost in 2015. The massive shortfall has crippled the gulf economies, which are facing record budget deficits and seeking external funding to overcome it. Many experts believe that $100 per barrel oil prices are history, and we might not revisit those prices for more than a decade. It implies that the recent crisis will not end as quickly as the downturn in 2007-2009. The oil-dependent nations will have to figure out...
  • Iran discovers shale oil reserves

    04/28/2016 12:06:16 PM PDT · by 2ndDivisionVet · 5 replies
    Hellenic Shipping News ^ | April 28, 2016 | Azer News
    Energy-rich Iran, which is the fourth country in the world for its proven oil reserves of 158 billion barrels, has discovered shale oil reserves in the Lorestan Province. This was announced by the Director of Center for Exploration and Production at the country’s Oil Ministry, Mohammad Reza Kamali on April 25. The project of studying the shale reserves is completed by 47 percent, he said, adding that the studies, conducted in cooperation with German RWTH Aachen University prove the existence of significant reserves of shale oil in Lorestan Province. However, Kamali did not disclose whether Iran plans to extract shale...
  • Oil Crash Creates Glut Of Petroleum Engineers – More Layoffs Coming

    04/27/2016 7:35:00 PM PDT · by Lorianne · 14 replies
    Oil Price ^ | 24 April 2016 | Michael McDonald
    For many years one of the most lucrative jobs in the already lucrative field of engineering was as a petroleum engineer. While industrial, mechanical, and chemical engineering grads all commanded respectable salaries, usually ranging from $55,000 to $75,000, in recent years petroleum engineering salaries often top $100,000 or more. The days of that prosperity are ending or at least on hold for now though. Jobs for petroleum engineers are becoming increasingly scarce even for grads from traditionally good universities. Part of the problem is that as U.S. shale oil boomed, so did the number of petroleum engineering grads. There are...
  • Will Oil And Refugees Force European Intervention In Libya

    04/27/2016 7:20:37 PM PDT · by Lorianne · 2 replies
    Oil Price ^ | 24 April 2016 | Irina Slav
    Europe is on track to send security experts to Libya after it successfully installed a so-called unity government that is willing to work with international agencies. A primary goal of this move will be to address the problem of the smuggling of people to Europe. The move is in the planning stage. EU officials have declared that help will be sent should the new government, called the Government of National Accord (GNA), ask for assistance, which it did earlier this week. The GNA has asked for help from the EU in general, with an emphasis on restoring the security of...
  • First “Illegal” Shipment Of Oil Leaves Eastern Libya

    04/27/2016 11:52:15 AM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | 27-04-2016 | Slav
    A cargo of 650,000 barrels of crude left the Libyan port of Hariga yesterday, in the eastern part of the conflict-torn country, sparking what promises to be another phase in the conflict as the Islamic-leaning government in Tripoli vows to block the maneuver. This premature attempt at crude oil exports could have huge implications for international efforts to unite the country under the new Government of National Accord (GNA), which was formed with UN support, because eastern Libya is controlled by a government based in Tobruk, which has not yet recognized the GNA of Fayez Serraj.
  • Chevron Plans to Invest Billions in Permian Basin

    04/26/2016 9:21:08 PM PDT · by Impala64ssa · 13 replies
    CBS7 ^ | 4/26/16 | Alexa Dunson
    PERMIAN BASIN In the midst of a downturn in the oil industry, Chevron is set to invest billions. According to a report by the Hobbs News-Sun, Chevron is planning on bringing massive, billion-dollar oil and gas projects to West Texas and eastern New Mexico. Chevron CEO John Watson announced the company will put more of its budget in the Permian Basin while cutting costs elsewhere. During an annual analyst meeting Watson predicted by 2020 Chevron could pump 350,000 barrels a day in West Texas which is almost triple their current 125,000 barrels a day.
  • Research university hides results of fracking study which fails to prove it’s dangerous

    04/26/2016 4:53:07 PM PDT · by 2ndDivisionVet · 18 replies
    Hot Air ^ | April 26, 2016 | Jazz Shaw
    What happens when a university research department is tasked with conducting a study of the harmful effects of fracking on ground water and other environmental concerns? Well, that depends on who provides their research money and what the results turn out to be. In the case of the University of Cincinnati, a lot of their funding comes from groups which have a vested interest in proving how harmful fracking is so it’s hardly a surprise that they lost interest in the study when it failed to produce any evidence of ground water contamination near commercial fracking sites. Jeff Stier, senior...
  • Could Sabotage Cause A Surge In Oil Prices?

    04/26/2016 3:22:22 PM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 26-04-2016 | Dwayne Purvis
    Hidden among the ballyhoo about a collaborative freeze in production growth, a less visible but far more effective dynamic has affected, and likely will affect, oil supply and price: military intervention. There have always been three routes out of the unsustainably low prices: natural decline/growth of supply/demand, collaboration constraints on supply, and military conflict. Since January, while the talk of a growth freeze had no effect whatsoever on actual supply, the natural decline/growth did reduce the overhang by a couple of hundred thousand barrels of oil per day. Meanwhile, two little-discussed and less-understood military interventions took a combined 900,000 bopd...
  • Oil Majors Lose Faith In The North Sea – 100 Shut Downs Looming

    04/26/2016 2:02:26 PM PDT · by Lorianne · 3 replies
    Oil Price ^ | 21 April 2016 | Nick Cunningham
    Oil production from the North Sea posted gains in 2015 for the second year in a row, but the recent uptick in output could be a blip in the region’s long-term decline. Oil companies added 160,000 barrels per day last year from North Sea projects in the UK and Norway, according to the IEA. However, those gains came from projects that were planned years ago when oil prices traded above $100 per barrel. With Brent crude declining by more than 60 percent from mid-2014, North Sea oil producers have slashed spending, scrapped projects and are looking to sell off assets....
  • Fridges go off as Venezuela power-rationing hits

    04/26/2016 7:53:18 AM PDT · by simpson96 · 54 replies
    AFP, via Yahoo News ^ | 4/26/2016 | Alexander Martinez
    Caracas (AFP) - Fridges zapped off in kitchens across Venezuela as the government turned off the electricity supply to help ease a power shortage that is worsening the country's economic crisis.It is the latest drastic measure by the government in a crisis that already has Venezuelans queuing for hours to buy scarce supplies in shops.The government imposed a four-hour blackout in eight states starting Monday and said the measure will last 40 days. The states of Caracas and Vargas had also been on the list for blackouts but were spared at the last minute.The timing of the switch-off caught Pedro...
  • For The First Time Since The Great Depression, Exxon Mobil Loses 'AAA' Rating

    04/26/2016 10:10:18 AM PDT · by Nachum · 13 replies
    zero hedge ^ | 4/26/16 | tyler durden
    Exxon Mobil has been rate AAA by S&P since 1930 according to Bloomberg. Today that ended as the global crude explorer with sales that dwarf the economies of most nations was cut to AA+ (Outlook stable). Having been put on notice in February (negative watch), citing concern that credit measures would remain weak through 2018. Credit measures will be weak for a AAA rating due, in part, to low commodity prices, high reinvestment requirements and large dividend payments, S&P says. Maintaining production and replacing reserves will eventually require higher spending, S&P says. Greatest business challenge is replacing co.’s ongoing production, S&P says....
  • Study: European Plan To Reduce CO2 Emissions Actually Increased Them(DOH!)

    04/26/2016 9:29:03 AM PDT · by rktman · 16 replies
    dailycaller.com ^ | 4/26/2016 | Andrew Follett
    Europe’s plans to reduce carbon dioxide (CO2) emissions by switching from conventional oil to biofuels actually ended up increasing emissions, according to a study published Monday by the environmental group Transport & Environment (T&E). The study found, on average, biofuel from vegetable oil creates 80 percent more CO2 emissions than the conventional oil it replaces. The report estimates the biofuels create new emissions equivalent to putting an extra 12 million cars on the road.
  • Drill will: America, not OPEC, decides the fate of global oil markets

    04/25/2016 2:55:17 PM PDT · by 2ndDivisionVet · 11 replies
    The Economist ^ | April 23, 2016
    “WE DON’T care about oil prices,” Muhammad bin Salman, Saudi Arabia’s deputy crown prince, recently told Bloomberg, a news agency: “$30 or $70, they are all the same to us.” Such comments by the man calling the shots in the world’s biggest oil power should be taken with a pinch of salt. Low oil prices cost the country billions, threaten its credit rating and are turning it from creditor to debtor: this week it set out to raise $10 billion from global banks. Yet the claim is not entirely hollow, either. Saudi Arabia is determined not to give any succour...
  • The Real Reason Saudi Arabia Killed Doha

    04/25/2016 11:46:55 AM PDT · by bananaman22 · 3 replies
    Oilprice.com ^ | 25-04-2016 | Captain Hook
    Saudi Arabia single-handedly scuttled the Doha meeting, knowing all along that Iran would not participate, with a valid reason. The Russians and others agreed to proceed without Iran, planning to include them at a later date. So if everything was known beforehand, why did the Saudi’s pour cold water on the aspirations of the remaining members, risking its alienation from Russia and the OPEC community? Was it simply Saudi enmity toward Iran? Not exactly. Upon closer scrutiny, we can find the Saudi masterstroke behind Doha. It is well known that Saudi Arabia is heavily dependent on oil revenues, and that...
  • Jacki Daily Podcast: ISIS DESTROYS - ENERGY vs ELECTION and EARTH DAY

    04/24/2016 5:40:41 PM PDT · by RaceBannon
    The Jacki Daily Show ^ | 4/24/16 | The Jacki Daily Show
    Jacki is joined by Dr. David Grantham, senior research fellow at the National Center for Policy Analysis to discuss how oil and antiquities from terrorist networks has made its way to America and what we can do to stop it. Jacki also speaks with Brendan Williams to talk about the importance of energy issues in the upcoming Presidential election. Lastly Jacki is joined by Doug Domenech, director of the Fueling Freedom Project at the Texas Public Policy Foundation, to talk about the history of Earth Day.
  • Jacki Daily Podcast: ISIS OIL BEING SOLD IN USA!!

    04/24/2016 5:20:36 PM PDT · by RaceBannon · 12 replies
    The Jacki Daily Show ^ | 4/24/16 | The Jacki Daily Show
    Jacki Talks With Dr. Grantham About How ISIS Oil Has Made Its Way To the USA
  • Mass. Sen. President Rosenberg to Berkshire Gas: Pipeline is dead; lift the moratorium

    04/24/2016 10:30:24 AM PDT · by matt04 · 23 replies
    Massachusetts Senate President Stanley Rosenberg on Wednesday called upon Berkshire Gas to lift its moratorium on new and expanded natural gas service in the region — but a spokesman for Berkshire's parent company, the publicly-traded Avangrid, told The Republican that the moratorium on new hookups would stay in place without a "permanent solution" for additional natural gas capacity in western Massachusetts. ... Berkshire Gas had hoped to purchase capacity on the line. Berkshire's parent company, Avangrid, had also signed on as an investor in the $5-8 billion Kinder Morgan pipeline. Berkshire more than a year ago imposed a moratorium on...
  • Business Volvo plans to go all-electric, sets a goal to make 1 million electric cars by 2025

    04/23/2016 7:15:06 PM PDT · by ckilmer · 22 replies
    Volvo is making a huge commitment to electric cars. Today, The Swedish car manufacturer put quantities and dates on goals it first published in its Volvo Cars Sustainability Report 2015. Volvo said that it will make one million electric cars by 2025 in a press release.
  • Smelling Blood in the Political Water

    04/23/2016 10:27:47 AM PDT · by Kaslin · 20 replies
    Townhall.com ^ | April 23, 2016 | Paul Driessen
    The great white environmentalist sharks smell blood in the water. It’s gushing from mortally wounded US coal companies that the Obama EPA has gutted as sacrifices on the altar of “dangerous manmade climate change” prevention and other spurious health, ecological and planetary scares.Peabody Energy, Arch Coal and other once vibrant coal producers have filed for Chapter 11 protection, shedding some $30 billion in shareholder value and tens of thousands of jobs in their companies and dependent industries. The bloodletting has left communities and states reeling, union pension funds and 401k plans empty, and the health, welfare, hopes and dreams of...
  • Huge coral reef discovered at Amazon river mouth

    04/23/2016 11:55:58 AM PDT · by rktman · 32 replies
    theguardian.com ^ | 4/22/2016 | John Vidal
    Scientists astonished to find 600-mile long reef under the muddy water in a site already marked for oil exploration
  • Bipartisan Push on to Oppose 9/11 Bill

    04/22/2016 9:47:40 PM PDT · by Rockitz · 9 replies
    RollCall.com ^ | 19 April 2016 | John T. Bennett
    A Senate bill that would allow families of those killed in the 9/11 attacks to sue the Saudi government has achieved a rare Washington distinction, by uniting the Obama administration and some of its fiercest GOP critics. President Barack Obama and Sen. Lindsey Graham, R-S.C., are rallying to kill the bipartisan plan that would make it possible for American citizens to sue foreign governments believed to be linked to terrorist attacks on U.S. soil. House Speaker Paul D. Ryan, R-Wis., said the plan should be reviewed through regular order before decisions are made about advancing the measure. White House Press...
  • Treasury misses deadline to issue report on solar fraud

    04/22/2016 7:12:59 PM PDT · by markomalley · 9 replies
    Washington Examiner ^ | 4/22/16 | John Siciliano
    The Treasury Department failed to meet a Republican-set deadline Friday for issuing the results of an investigation into rampant fraud under federal tax subsidy programs for solar energy. Republican Sens. Lisa Murkowski of Alaska and Jeff Flake of Arizona pressed Treasury inspectors to release the long-overdue report by April 22 in a letter the lawmakers sent earlier in the month. The senators did not receive the results of the investigation, but instead were told by Treasury that they are still attempting to compile the information. A spokesman for Murkowski said the inspectors "have not provided a substantive response," and they...
  • Prince Of Beheading Champ Saudi Arabia Calls Trump "Disgrace To America"

    12/11/2015 12:12:45 PM PST · by amorphous · 22 replies
    Zero Hedge ^ | 11 Dec 2015 | Tyler Durden
    You know you've 'made it' when the prince of one of the world's biggest human rights abuser (and leading 'beheader') nations calls you a "disgrace to America."
  • Chemists create battery technology with off-the-charts charging capacity

    04/20/2016 2:50:04 PM PDT · by Red Badger · 34 replies
    phys.org ^ | April 20, 2016 | Provided by: University of California, Irvine
    UCI chemist Reginald Penner (shown) and doctoral candidate Mya Le Thai have developed a nanowire-based technology that allows lithium-ion batteries to be recharged hundreds of thousands of times. Credit: Daniel A. Anderson / UCI ========================================================================================================== University of California, Irvine researchers have invented nanowire-based battery material that can be recharged hundreds of thousands of times, moving us closer to a battery that would never require replacement. The breakthrough work could lead to commercial batteries with greatly lengthened lifespans for computers, smartphones, appliances, cars and spacecraft. Scientists have long sought to use nanowires in batteries. Thousands of times thinner than a human...
  • Report: Obama Seeks Meeting With Iranian President

    04/20/2016 2:13:06 PM PDT · by Sub-Driver · 31 replies
    Report: Obama Seeks Meeting With Iranian President Adam Kredo April 20, 2016 4:06 pm President Barack Obama has sent two letters to senior Iranian leaders in recent months requesting a meeting with Iranian President Hassan Rouhani, according to Persian language reports recently translated by a Middle East research organization. “President Obama asked to meet with Iranian President Hassan Rouhani in two secret letters sent in late March to both Iranian Supreme Leader Ali Khamenei and President Rouhani,” according to the Middle East Media Research Institute, or MEMRI, which translated a Farsi-language report published Tuesday by a website affiliated with Iran’s...
  • 200M Barrels Of Oil Sit In Idle Tankers Waiting To Unload At Chinese Ports

    04/20/2016 1:33:56 PM PDT · by Lorianne · 6 replies
    Oil Price ^ | 17 April 2016 | Irina Slav
    There is a new drama on the oil front: those who have it in excess can’t get it to those who want it—at least not quickly enough for everyone to be happy. A recent Reuters story reveals that tankers carrying around 200 million barrels of crude are waiting to leave or dock at ports around the world, creating “the world’s biggest traffic jam.” One would think that producers and consumers of the world’s most abundant commodity would have had time enough to adjust their port capacities, but apparently this is not the case. Middle East ports are choking on the...
  • What Will California Do With Too Much Solar?

    04/20/2016 1:36:16 PM PDT · by Lorianne · 21 replies
    KQED S ^ | 04 April 2016 | Lauren Sommer,
    Solar energy records are falling left and right in California these days, as the state steams ahead toward its ambitious renewable energy goals. But the success of solar has brought about a hidden downside: on some perfectly sunny days, solar farms are being told to turn off. That’s because in the spring and fall, when Californians aren’t using much air conditioning and demand for electricity is low, the surge of midday solar power is more than the state can use. It’s becoming a growing concern for those running the grid at the California Independent System Operator. At their Folsom headquarters,...
  • Dig a Hole for US Coal

    04/19/2016 2:22:35 PM PDT · by Kaslin · 19 replies
    Townhall.com ^ | April 19, 2016 | Stephen Moore
    There was a time in America -- and it wasn't even so long ago -- that liberals cared a lot about working-class people. They may have been misguided in many of their policy solutions -- e.g., raising the minimum wage -- but at least their hearts were in the right place. Then a strange thing happened about a decade ago. Radical environmentalists took control of the Democratic Party. These leftists care more about the supposed rise of the oceans than the financial survival of the middle class. The industrial unions made a catastrophic decision to get in bed with these...
  • The Political Death of American Coal

    04/19/2016 5:07:17 AM PDT · by Hojczyk · 16 replies
    Newsmax ^ | April 19,2016 | Stephen Moore
    There was a time in America — and it wasn't even so long ago — that liberals cared a lot about working-class people. They may have been misguided in many of their policy solutions — e.g., raising the minimum wage — but at least their hearts were in the right place. Then a strange thing happened about a decade ago. Radical environmentalists took control of the Democratic Party. These leftists care more about the supposed rise of the oceans than the financial survival of the middle class. The industrial unions made a catastrophic decision to get in bed with these...
  • U.S. poised to approve Boeing fighter jet sales to Qatar, Kuwait

    04/19/2016 12:22:38 AM PDT · by sukhoi-30mki · 8 replies
    Reuters ^ | Apr 18, 2016 | Andrea Shalal
    WASHINGTON • The U.S. government is poised to approve two long-delayed sales of Boeing Co. fighter jets to Qatar and Kuwait, and could announce the multibillion-dollar deals during President Barack Obama's visit to the Gulf this week, according to two sources familiar with the matter. The decision would mean more job security for thousands of workers at Boeing's sprawling plant in north St. Louis County, where the F-15 fighter and F/A-18E/F Super Hornets are made. Both deals have been stalled amid concerns raised by Israel that equipment sent to Gulf states could fall into the wrong hands and be used...
  • Here’s why Doha failed to deliver an oil deal

    04/18/2016 5:12:45 PM PDT · by Ernest_at_the_Beach · 10 replies
    marketwatch.com ^ | Apr 18, 2016 2:40 a.m. ET | WilliamWatts
    No incentive for Saudis to let up Getty Saudi Arabia's minister of Oil and Mineral Resources Ali al-Naimi (C) arrives for the OPEC meeting, in the Qatari capital Doha, By WilliamWatts Deputy markets editor Why would the Saudis give up now?That’s the question crude oil bulls should have been asking themselves ahead of the Sunday meeting of major oil producers that failed to produce an agreement to put a lid on production. Prospects for a deal fell apart after Iran refused to sign up, prompting Saudi Arabia, the world’s swing producer, to effectively walk away. Those that believed Riyadh had...
  • Consol Energy CEO predicts 2 ethane cracker plants for region

    04/18/2016 4:39:43 PM PDT · by RS_Rider · 8 replies
    Trib Live ^ | 04-18-2016 | David Conti
    The global crash in oil prices and resulting squeeze in financing available to energy companies have raised questions about whether two companies will build ethane cracker plants in the Marcellus and Utica shale regions. The head of one of the top shale gas producers in the area, however, predicts both petrochemical facilities will be built in the next decade. “We will see one to two ... I believe two cracker plants built in this region,” Consol Energy Inc. CEO Nick DeIuliis said Friday during the University of Pittsburgh's Energy Law and Policy Institute gathering Downtown. Such facilities would take ethane...
  • Will we ever stop using fossil fuels?

    04/18/2016 4:39:30 PM PDT · by 2ndDivisionVet · 63 replies
    MIT News ^ | February 24, 2016 | Peter Dizikes
    In recent years, proponents of clean energy have taken heart in the falling prices of solar and wind power, hoping they will drive an energy revolution. But a new study co-authored by an MIT professor suggests otherwise: Technology-driven cost reductions in fossil fuels will lead us to continue using all the oil, gas, and coal we can, unless governments pass new taxes on carbon emissions. “If we don’t adopt new policies, we’re not going to be leaving fossil fuels in the ground,” says Christopher Knittel, an energy economist at the MIT Sloan School of Management. “We need both a policy...
  • Oregon manages to stop construction of huge LNG export terminal, costing thousands of jobs

    04/18/2016 3:26:04 PM PDT · by Hojczyk · 31 replies
    Hot Air ^ | April 18, 2016 | JAZZ SHAW
    he world is hungry for LNG and it represents a major opportunity in terms of evening out our trade imbalance. But thanks to the dedicated efforts of green energy warriors and Oregon politicians, yet another refusal of a construction permit seems to have been the final straw for The Oregon LNG company and they’ve pulled the plug on the entire project. (The Oregonian) “It didn’t have a lot of public support, I’ll put it that way,” Warrenton City Commissioner Henry Balensifer III said Friday… Under Oregon LNG’s plan, an 87-mile pipeline would have shuttled Canadian natural gas from Woodland, Wash.,...
  • Hundreds Of European Wind Turbines Are Operating At A Loss

    Hundreds of wind turbines in the Netherlands are operating at a loss and could soon be demolished, according to an article published Thursday by the Dutch financial newspaper Financieele Dagblad. Subsidies for generating wind energy aren’t cost effective anymore, according to the paper’s analysis. Most of Europe’s modern wind turbines are struggling to be profitable due to the inefficient subsidy structure. Financieele Dagblad is extremely worried about the failure of the Dutch wind industry, because the Netherlands is already behind its green energy targets. Dutch financial issues with wind power aren’t unique to the Netherlands. Globally, the wind power industry...
  • As oil output falls, Libya is on the verge of economic collapse

    04/18/2016 2:48:48 PM PDT · by Lorianne · 14 replies
    Washington Post ^ | 16 April 2016 | Sudarsan Raghavan
    The rapid deterioration of Libya’s oil-dependent economy is threatening the objectives of the country’s new Western-backed government and budding efforts to confront the Islamic State in North Africa, political and security analysts say. Within hours of arriving in Tripoli two weeks ago, the government made controlling the nation’s oil a priority. It persuaded a powerful militia to hand over three oil terminals, and the national oil company gave its support. But the road to securing Africa’s largest reserves is riddled with even greater obstacles, and bringing the battered industry back to its full potential promises to be a colossal mission....
  • Saudi Arabia turns oil weapon on Iran: Kemp

    04/18/2016 7:27:28 AM PDT · by TigerLikesRooster · 13 replies
    Daily Mail ^ | April 18, 2016 | John Kemp
    Saudi Arabia turns oil weapon on Iran: Kemp By Reuters Published: 13:22 GMT, 18 April 2016 | Updated: 13:22 GMT, 18 April 2016 By John Kemp LONDON, April 18 (Reuters) - Saudi Arabia's decision to scupper negotiations on a coordinated oil output freeze in Doha on Sunday seems to confirm a significant shift in the kingdom's oil policy. For decades, the kingdom has insisted it does not wield oil as a diplomatic weapon, but at the weekend it did just that as part of an intensifying conflict with Iran. ("Saudi-Iran tensions scupper deal to freeze oil output", Reuters, April 17)...
  • Half Of Kuwaiti Oil Production Offline After Massive Strike

    04/18/2016 9:22:28 AM PDT · by bananaman22 · 5 replies
    Oilprice.com ^ | 18-04-2016 | Ali
    While everyone is talking about the failure of the Doha negotiations, Kuwait has more than made up for OPEC’s failure all on its own. Kuwait’s oil workers walked off the job this weekend, flexing their muscles over a pay dispute. The state-owned Kuwait Oil Company took to Twitter to report the damage done by the workers strike, announcing that oil production fell to 1.1 million barrels per day on Sunday, a catastrophic development considering it normally produces nearly 3 mb/d. Also, Kuwait Petroleum Corp., the state-owned refining company, said that its production of refined products dropped from 930,000 to 520,000...
  • Botched Doha deal undermines OPEC credibility, oil prices tumble

    04/18/2016 6:27:34 AM PDT · by Hojczyk · 18 replies
    Yahoo News ^ | April 18, 2016 | By Henning Gloystein
    Oil prices tumbled on Monday after a meeting by major exporters in Qatar collapsed without an agreement to freeze output, leaving the credibility of the OPEC producer cartel in tatters and the world awash with unwanted fuel. Tensions between Saudi Arabia and Iran were blamed for the failure, which revived industry fears that major government-controlled producers will increase their battle for market share by offering ever-steeper discounts. "OPEC's credibility to coordinate output is now very low," said Peter Lee of BMI Research, a unit of rating agency Fitch. "This isn't just about oil for the Saudis. It's as much about...
  • Are You Ready for $5 Gas? (Obama plays the knockout game with American consumers)

    04/17/2016 4:17:05 AM PDT · by doldrumsforgop · 9 replies
    am thinker ^ | 4/17/16 | j folks
    In a version of "hit 'em while they're down,' the Obama administration has unleashed a slew of new regulations targeting U.S. oil and gas production. These include costly methane emission rules on all new and existing wells, reversals of promised offshore acreage leasing, a de facto freeze of leasing on federal lands, and burdensome EPA restrictions of fracking. Then there is Obama's recent budget proposal of a $10-per-barrel surtax on top of the high taxes and royalties already paid by oil companies. Just as low oil prices are driving hundreds of oil companies out of business, Obama is piling on...
  • The case against Exxon and CEI will not stop with Exxon and CEI

    04/17/2016 12:52:52 PM PDT · by MtnClimber · 10 replies
    National Review ^ | 17 Apr, 2016 | KEVIN D. WILLIAMSON
    In the course of writing about the ongoing fraud in which a cabal of left-wing lawyers with connections to the administrations of Barack Obama and Andrew Cuomo has attempted to extort many billions of dollars from Chevron, I had a memorable conversation with an executive at the energy giant. “We are the least sympathetic defendant there is,” he said. “We’re an oil company. You can say almost anything about an oil company. There are no stories in which the oil company is the good guy.” ...... New York’s attorney general, Eric Schneiderman, is taking a similar approach. He isn’t sure...
  • THE JACKI DAILY Show! Listen live at 2PM Eastern!

    04/17/2016 6:30:40 AM PDT · by RaceBannon
    The Jacki Daily Show ^ | 4/17/16 | The Jacki Daily Show
    THE JACKI DAILY Show! Listen live at 2PM Eastern! The host of the Jacki Daily show has had an impressive career in energy, law, and politics.Most recently, Jacki served as General Counsel to an engineering firm specializing in energy, national security and environmental cleanup. Previously, she served many years as legal counsel on Capitol Hill to the Chairman of the Subcommittee on the Constitution and the former Ranking Member of the Commercial and Administrative Law Subcommittee, advising on the oversight of federal agencies. Prior to her career in Washington, she worked as a corporate litigator, and as an Assistant Vice...
  • Goodrich Petroleum Files For Chapter 11 Bankruptcy Protection

    04/16/2016 12:45:05 PM PDT · by Lorianne · 11 replies
    Wall Street Journal ^ | 15 April 2016 | Stephanie Gleason
    Goodrich Petroleum filed for chapter 11 bankruptcy Friday with investment firms slated to pick up the pieces, as yet another company sought court protection amid the shakeout in the oil and gas industry. Houston-based Goodrich, an oil and gas producer which struggled to cut its debt as crude prices tumbled, has a deal in place that would erase $400 million in debt from its books through a swap with a group of investors that own bonds the company issued last year. The Goodrich bondholders, who include Franklin Advisors, Penn Capital Management and Jefferies, have agreed to forgive $175 million in...
  • Sanders Admits His Climate Change Remedy Will Bring 'Economic Dislocation,' Job Losses

    04/15/2016 8:54:05 AM PDT · by Olog-hai · 36 replies
    Cybercast News Service ^ | April 15, 2016 | 10:19 AM EDT | Susan Jones
    Climate change is a “global crisis,” and addressing it will bring “economic dislocation,” including job losses, Sen. Bernie Sanders said at Thursday’s CNN-hosted Democrat debate in Brooklyn. “Pope Francis reminded us that we are on a suicide course,” Sanders said. “Our legislation understands, …that there will be economic dislocation. It is absolutely true. There will be some people who lose their job. And we build into our legislation an enormous amount of money to protect those workers. It is not their fault that fossil fuels are destroying our climate. But we have got to stand up and say right now,...
  • How Fracking Has Reduced Greenhouse Gases (Eliminate The EPA)

    04/16/2016 5:09:49 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | April 16, 2016 | Stephen Moore
    The U.S. Department of Energy published data last week with some amazing revelations -- so amazing that most Americans will find them hard to believe. As a nation, the United States reduced its carbon emissions by 2 percent from last year. Over the past 14 years, our carbon emissions are down more than 10 percent. On a per-unit-of-GDP basis, U.S. carbon emissions are down by closer to 20 percent. Even more stunning: We've reduced our carbon emissions more than virtually any other nation in the world, including most of Europe. How can this be? We never ratified the Kyoto Treaty....
  • Bernie Sanders' Energy Policy: Import A Lot More Oil

    04/16/2016 7:38:10 AM PDT · by JimSEA · 7 replies
    Forbes ^ | 4/15/2016 | Robert Rapier
    It’s easy to be against a policy when you don’t understand how that policy actually impacts your life. I believe that this is the case with one of Bernie Sanders’ proposals. Sanders has said multiple times that he would ban the process of hydraulic fracturing, but to my knowledge he has never addressed what the impact of such a ban might be. So let’s investigate. The technique of hydraulic fracturing, or “fracking” had been around since the late 1940s and has been used extensively to promote higher production rates from oil and gas wells. Fracking involves pumping water, chemicals and...
  • Peabody, largest US coal miner, seeks bankruptcy protection

    04/14/2016 4:24:31 PM PDT · by Lorianne · 13 replies
    Associate Press (AP) ^ | 13 April 2016
    Peabody Energy, the nation's largest coal miner, has filed for bankruptcy protection as a crosscurrent of environmental, technological and economic changes wreak havoc across the industry. Mines and offices at Peabody, a company founded in 1833 by 24-year-old Francis S. Peabody, will continue to operate as it moves through the bankruptcy process. However, Peabody's planned sale of its New Mexico and Colorado assets were terminated after the buyer was unable to complete the deal. The company's bankruptcy filing comes less than three months after another from Arch Coal, the country's second-largest miner, which followed bankruptcy filings from Alpha Natural Resources,...
  • Trump to Pittsburgh: 'We Are Going to Bring Back Your Coal Industry, Your Steel Industry'

    04/14/2016 1:31:35 PM PDT · by ifinnegan · 160 replies
    DJT/Grabien ^ | 4/13/16 | DJT
    Donald Trump states in Pittsburgh he will bring back Pittsburgh's coal industry, clean coal. And also he will bring back Pittsburgh's steel industry.