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Keyword: energy

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  • Obama to issue flurry of energy regulations this summer

    05/22/2015 10:09:46 AM PDT · by jazusamo · 19 replies
    The Hill ^ | May 22, 2015 | Timothy Cama
    This summer will be busy for the Obama administration’s energy and environmental regulators, with numerous high-profile rule releases planned. Between June and August, regulators hope to fill out the Obama administration’s agenda with major rules on greenhouse gases, the oil and natural gas sectors, coal production, and other policy priorities, according to a rule-making schedule released by the White House late Thursday. The administration’s main climate change rule from the Environmental Protection Agency, which would slash greenhouse gases in the power sector by 30 percent, is due out in August. That aligns with the timeline EPA officials, including Administrator Gina...
  • Cheaper oil isn't such a benefit for US economy anymore as pullbacks in drilling cause damage

    05/22/2015 10:10:17 AM PDT · by thackney · 31 replies
    AP via Calgary Herald ^ | 05.19.2015 | CHRISTOPHER S. RUGABER
    Full Title: Cheaper oil isn't such a benefit for US economy anymore as pullbacks in drilling cause damage If there was one thing most economists agreed on at the start of the year, it was this: Plunging oil prices would boost the U.S. economy. It hasn't worked out that way. The economy is thought to have shrunk in the January-March quarter and may barely grow for the first half of 2015 — thanks in part to sharp cuts in energy drilling. And despite their savings at the gas pump, consumers have slowed rather than increased their spending.... So what did...
  • Letter presses feds to keep mine open ( Colorado)

    05/22/2015 8:24:53 AM PDT · by george76 · 4 replies
    Grand Junction Media ^ | May 21, 2015 | Gary Harmon
    The U.S. Department of the Interior should do all it can to keep open the Colowyo coal mine in northwest Colorado, U.S. Rep. Scott Tipton and Sen. Cory Gardner, both Colorado Republicans, said in a letter to Interior Secretary Sally Jewell. ... Colowyo Mine employs 220 people in Moffat and Rio Blanco counties and has a payroll of about $20 million, Tipton wrote to Jewell, asking that Interior react quickly to a federal court ruling that could force closure of the mine. “The adverse effects of shutting down this mine go beyond the jobs at the mine that would be...
  • Skeptical Academics & Questionable Research

    05/22/2015 7:25:50 AM PDT · by Academiadotorg · 3 replies
    Accuracy in Academia ^ | May 21, 2015 | Malcolm A. Kline
    In the final decade of the Cold War, President Reagan urged Americans to “trust by verify” when engaged in arms control negotiations with the Soviet Union. When digesting academic research, it might be a good idea to reverse this formula and verify first, and then, if possible, trust, the information offered. Case in point: Harvard historian Naomi Oreskes. In a chapter in the book How Well Do Facts Travel? Oreskes attempts to unearth a connection between global warming skeptics and the energy industry, specifically a company called Western Fuels. Oreskes asserts that she has in her possession “leaked Western Fuels...
  • China coal use continues to fall precipitously in 2015

    05/22/2015 5:26:33 AM PDT · by thackney · 12 replies
    Renew Economy ^ | 18 May 2015 | Joshua Hill
    New figures show that China’s use of coal has continued to fall dramatically over the first four months of 2015, according to Greenpeace Energydesk. In fact, following news in October of 2014 that showed coal use had fallen for the first time this century, these most recent figures suggest that the decline in China’s coal use is actually accelerating. According to Energydesk, coal consumption in China fell by almost 8%, and CO2 emissions dropped by approximately 5% over the first four months of 2015, when compared to the first four months of 2014. Impressively, for China, their figures are roughly...
  • Net imports of natural gas fall to lowest level since 1987

    05/22/2015 5:10:54 AM PDT · by thackney
    Energy Information Administration ^ | MAY 21, 2015 | Energy Information Administration
    U.S. net imports of natural gas decreased 9% in 2014, continuing an eight-year decline. As U.S. dry natural gas production has reached record highs, lower domestic prices have helped to displace natural gas imports. Net natural gas imports (imports minus exports) totaled 1,171 billion cubic feet (Bcf) in 2014, the lowest level since 1987. Imports by pipeline from Canada account for nearly 98% of all U.S. natural gas imports, and were the main driver of the decrease in total imports. Net imports from Canada represented 7% of total U.S. natural gas consumption in 2014, down from 11% in 2009. U.S....
  • U.S. retail gasoline prices lowest since 2009 heading into Memorial Day weekend

    05/22/2015 5:07:46 AM PDT · by thackney · 10 replies
    Energy Information Administration ^ | MAY 22, 2015 | Energy Information Administration
    On May 18, the U.S. average retail price for gasoline was $2.74 per gallon ($/gal), or 92¢ per gallon (¢/gal) lower than at the same time last year. This is the lowest average price heading into the Memorial Day weekend—the traditional start of the summer driving season—since 2009. Lower gasoline prices reflect lower crude oil prices, with the spot price of North Sea Brent crude oil at more than $45 per barrel ($/b) lower than the same time last year, despite having increased more than $10/b since the beginning of February. Average retail prices for all regions of the country...
  • OPEC Struggling To Keep Up The Pace In Oil Price War

    05/21/2015 1:39:25 PM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | 21-05-2015 | Leonard Brecken
    Some market watchers, such as Cornerstone Analytics (CA), have consistently stated that the underestimation of demand, coupled with over-estimation of supply, will mask the growing call on OPEC oil in the second half of this year. CA recently noted that global demand outstripped supply by some 4 million barrels in April . This comes in addition to the mounting evidence that the oil market, via rig count declines, slowing production growth, higher demand and huge API crude inventory declines, is starting to readjust. Be that as it may, Goldman Sachs (GS) seems to believe oil must fall to $45 by...
  • Series of oil spill settlements include BP, Halliburton, Transocean, numerous plaintiffs

    05/20/2015 6:25:28 PM PDT · by Oliviaforever · 1 replies
    Fox News ^ | 5/20/15
    NEW ORLEANS – A committee of lawyers representing businesses and individuals claiming damages from the 2010 Gulf of Mexico oil spill announced a $211 million settlement Wednesday with Transocean Ltd., owner of the ill-fated Deepwater Horizon drilling rig.
  • Texas Legislature Preempts Denton Fracking Ban

    05/20/2015 1:39:35 PM PDT · by ThethoughtsofGreg · 6 replies
    American Legislator ^ | 5-20-15 | John Eick
    Last November, citizens of Denton, TX voted via referendum to ban the oil and gas well stimulation technique commonly known as hydraulic fracturing or “fracking.” The outcome was significant since the city sits on top of the Barnett shale play, the third largest onshore natural gas producing field in the U.S. Although a handful of municipalities and counties across the country have banned fracking or related activities, Denton is the first city with significant oil or natural gas deposits to do so. Last year, ALEC briefly wrote about the lawsuits filed in Texas challenging the legality of the ban and...
  • Shedding new light on 175-year-old principle: New class of swelling magnets ... energize the world

    05/20/2015 11:06:44 AM PDT · by Red Badger · 19 replies
    Phys.Org ^ | 05-20-2015 | Provided by Temple University
    A new class of magnets that expand their volume when placed in a magnetic field and generate negligible amounts of wasteful heat during energy harvesting, has been discovered by researchers at Temple University and the University of Maryland. The researchers, Harsh Deep Chopra, professor and chair of mechanical engineering at Temple, and Manfred Wuttig, professor of materials science and engineering at Maryland, published their findings, "Non-Joulian Magnetostriction," in the May 21st issue of the journal, Nature. This transformative breakthrough has the potential to not only displace existing technologies but create altogether new applications due to the unusual combination of magnetic...
  • UGI to build second LNG plant

    05/20/2015 6:32:26 AM PDT · by thackney · 33 replies
    LNG World News ^ | May 15, 2015 | LNG WN
    UGI Energy Services, a UGI Corporation unit, said it plans to build a liquefied natural gas production facility in northern Pennsylvania that will utilize Marcellus Shale gas. The proposed facility will be adjacent to UGI Energy Services’ Manning natural gas compression station located in Wyoming County, Pennsylvania. Natural gas will be supplied by its Auburn gathering system, which transports Marcellus Shale gas produced from local wells to major interstate pipelines serving markets in the Mid-Atlantic region, the company said in a statement. The LNG plant, which will include both liquefaction and local storage, is expected to be in full commercial...
  • Energy subsidies, A costly mistake

    05/20/2015 5:04:54 AM PDT · by thackney · 12 replies
    The Economist ^ | May 19th 2015 | Business and finance
    BIG mistakes in economic policymaking abound. But it would be hard to find a worse one than energy subsidies. Recent research has shown that they enrich middlemen, depress economic output and help the rich, who use lots of energy, more than they do the poor. But now a new working paper by the International Monetary Fund highlights another cost too: damage to the environment. Including this, the authors reckon that the total drag on the global economy caused by fuel subsidies now amounts to a stonking $5.3 trillion each year, or 6% of global GDP—more than world spends on health...
  • Wood Mackenzie: Bakken, Eagle Ford Not Past Prime

    05/20/2015 4:41:46 AM PDT · by thackney · 4 replies
    Rig Zone ^ | May 19, 2015 | Karen Boman
    Bakken production will keep growing, albeit at a slower pace, and the Eagle Ford still has running room within high-return portions of the play, according to a recent analysis by Wood Mackenzie. The Bakken and Eagle Ford together produce just over 2.5 million barrels per day of oil, or nearly two-thirds of U.S. tight oil production. Higher oil prices in the 2013 to 2014 timeframe spurred operators to drill not only in the core of the Williston Basin, but in the fringe and speculative areas. This included areas along the Montana-North Dakota border, the northern most part of the play...
  • Flood of New Cash Sustains US Oil Firms; Energy Dealmakers Gripe

    05/20/2015 4:39:29 AM PDT · by thackney · 10 replies
    Reuters via Rig Zone ^ | May 20, 2015 | Anna Driver & Terry Wade
    U.S. oil companies, still smarting from the crude price rout, are attracting a wave of new investment from unlikely sources - hedge funds and private equity firms flocking to the energy market for the first time to bet on a rebound. By pouring billions of dollars into energy shares and bonds in the past few months these newcomers, dubbed "energy tourists" by Houston's seasoned dealmakers, have thrown a lifeline to scores of companies that a few months ago looked like potential targets for bigger rivals or distressed debt and restructuring specialists. "You've got generalist funds that have never invested in...
  • Marathon workers say no to labor offer in Galveston

    05/20/2015 4:36:47 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | May 19, 2015 | LM Sixel
    Employees at Marathon’s Galveston Bay Refinery overwhelming rejected a contract offer late Monday night, said union spokeswoman Lynne Hancock. Details of the offer, which had been brokered through the help of a federal mediator, were not available. The 1,100 workers, who are represented by the United Steelworkers union, have been on strike since Feb. 1. They walked off the job as part of a nationwide work stoppage that eventually expanded to include 15 refineries, chemical plants and power generators. While nearly all the workers nationwide are back to work – with the exception of Marathon’s workers in Texas City and...
  • Taller turbines could unlock more wind power, new government report finds

    05/20/2015 4:34:27 AM PDT · by thackney · 35 replies
    Fuel Fix ^ | May 19, 2015 | Rhiannon Meyers
    A new government report finds that taller wind turbines could help the U.S. vastly expand its wind-generated electricity, throwing new weight behind a wind industry push to reach higher into the air. The wind power market is dominated by a dozen states, with Texas in the lead as the nation’s top producer, but all 50 states have the capability to mine their gusts and breezes for electricity, the U.S. Department of Energy argues in a new report. “This report is great news for consumers, job-seekers, rural communities and others in the states that have yet to fully benefit from American...
  • Oil pipeline spills off California coast

    05/20/2015 4:32:11 AM PDT · by thackney · 8 replies
    Fuel Fix ^ | May 19, 2015 | Associated Press
    An estimated 21,000 gallons of oil dumped into the ocean from a broken pipeline just off the central California coast before it was shut off on Tuesday, creating a spill stretching about 4 miles along the beach, the U.S. Coast Guard said. Santa Barbara County health officials have shut down Refugio State Beach, the central site of the spill, though many had abandoned the site already because of the foul smell. That smell brought county firefighters to the beach earlier in the day to discover the spill. “They found about a half-mile slick of dark, black crude oil in the...
  • Transocean idles three more rigs amid crude slump

    05/19/2015 9:10:37 AM PDT · by thackney · 27 replies
    Fuel Fix ^ | May 19, 2015 | Collin Eaton
    Offshore driller Transocean has idled three more deep water rigs, bringing its number of out-of-work units to 15, it said Monday, as the oil slump continued to hammer the drilling market. The Swiss rig contractor with corporate offices in Houston has idled 10 rigs and stacked five others, and it has said it plans to sell 19 units for scrap. Idle rigs are between contracts; stacked machines are shut down for longer periods, and scrapped rigs are torn apart for their steel hides. Transocean owns or has a stake in 65 offshore rigs around the world. The three Transocean rigs...
  • Wyoming governor pushes coal ports on Northwest trip

    05/19/2015 6:23:59 AM PDT · by thackney · 5 replies
    AP via Belleville News-Democrat ^ | MAY 18, 2015 | BEN NEARY
    Faced with sliding domestic demand for coal, the governor of Wyoming has kept pressing for access to deep-water ports in the Northwest that would allow exports to Asian markets. Wyoming Gov. Matt Mead met Monday with Washington Gov. Jay Inslee in Olympia and plans to meet Tuesday with Oregon Gov. Kate Brown. "I wanted to get out here and talk to these two governors," Mead said in a telephone interview with The Associated Press. "If there are practical issues as well that we could help work through — everything from train traffic to train congestion, to issues of coal dust...
  • Oil Prices Decline as Dollar Strengthens

    05/19/2015 5:56:00 AM PDT · by thackney · 19 replies
    Fox Business ^ | May 19, 2015 | Dow Jones Newswires
    Oil prices declined on Tuesday, losing value as the strength of the dollar dissuaded buyers. The dollar gained versus the euro after a senior official at the European Central Bank said the institution would " front-load" its bond-buying program, snapping up more eurozone sovereign debt in May and June to avoid having to buy large volumes during the summer lull in July and August. A stronger dollar makes oil more expensive for buyers holding other currencies. The Wall Street Journal Dollar Index, which tracks the dollar against a basket of other major currencies, rose 0.5%. Brent crude for July delivery...
  • The Hole in the Rooftop Solar-Panel Craze

    05/19/2015 4:42:18 AM PDT · by thackney · 40 replies
    Wall Street Journal ^ | May 17, 2015 | BRIAN H. POTTS
    Most people buy rooftop solar panels because they think it will save them money or make them green, or both. But the truth is that rooftop solar shouldn’t be saving them money (though it often does), and it almost certainly isn’t green. In fact, the rooftop-solar craze is wasting billions of dollars a year that could be spent on greener initiatives. It also is hindering the growth of much more cost-effective renewable sources of power. According to a recent Energy Department-backed study at North Carolina State University, installing a fully financed, average-size rooftop solar system will reduce energy costs for...
  • Township Votes Down Wind Energy Project

    05/18/2015 5:50:05 PM PDT · by MichCapCon · 9 replies
    Michigan Capitol Confidential ^ | 5/14/2015 | Jack Spencer
    Voters in Huron County’s Meade Township have given a big thumbs down to a prospective Detroit Edison wind energy project. On May 5, voters rejected a proposal to allow Detroit Edison to erect up to 48 wind turbines in the township. The vote was 222 to 147, which is slightly more than a 60 percent to 40 percent margin. Special significance might be attached to the election because it took place in Huron County, which has more wind turbines than all of Michigan’s other counties combined. Huron County has recently declared a temporary moratorium on further wind development while its...
  • Wood Pellet Power: A Climate Threat?

    05/18/2015 1:57:48 PM PDT · by Citizen Zed · 34 replies
    forbes ^ | 5-18-2015 | Tom Zeller Jr.
    From the report: [The modeling shows that it will take approximately 55 years for forest regrowth to recapture enough carbon from the atmosphere to reduce the plant’s cumulative emissions below those of coal. At levels greater than 40 percent, pellets emit more carbon than coal for most of this period. In addition, as the percentage of whole trees increases above 70 percent (not shown in the figures), the level of carbon emissions continues to increase. When whole trees make up 20 percent of the wood in pellets, emissions are slightly higher than natural gas and slightly lower than coal for...
  • The climate nightmare we aren’t taking seriously enough: President Scott Walker

    05/18/2015 1:27:33 PM PDT · by Cincinatus' Wife · 62 replies
    Salon ^ | May 18, 2015 | Jeff Stein, a recent Cornell graduate and the editor of the Ithaca Voice.
    Imagine, for just a moment, the following scenario: The year is 2019 — two years into the first term of President Scott Walker. The Royal Dutch Shell corporation proposes a massive expansion of its existing drilling operation in the Arctic Ocean. Shell officials note that there have been no major accidents since their first exploratory wells became operational, and that doing so will provide a big boost to an American economy sliding into recession. President Walker, whose base is furious that he has only eliminated half of all federal food stamp and welfare programs, jumps into action. He orders Interior...
  • 'Eternal flames' of ancient times could spark interest of modern geologists

    05/18/2015 11:51:28 AM PDT · by Red Badger · 15 replies
    Phys.Org ^ | 05-18-2015 | Provided by Springer
    Seeps from which gas and oil escape were formative to many ancient cultures and societies. They gave rise to legends surrounding the Delphi Oracle, Chimaera fires and "eternal flames" that were central to ancient religious practices - from Indonesia and Iran to Italy and Azerbaijan. Modern geologists and oil and gas explorers can learn much by delving into the geomythological stories about the religious and social practices of the Ancient World, writes Guiseppe Etiope of the National Institute of Geophysics and Volcanology in Italy. His research is published in the new Springer book Natural Gas Seepage. "Knowing present-day gas fluxes...
  • Fossil fuels subsidised by $10m every minute, says IMF

    05/18/2015 9:09:02 AM PDT · by kingu · 20 replies
    Guardian UK ^ | Monday 18 May 2015 09.30 EDT | Damian Carrington
    Fossil fuel companies are benefitting from global subsidies of $5.3tn (£3.4tn) a year, equivalent to $10m every minute of every day, according to a startling new estimate by the International Monetary Fund. The IMF calls the revelation “shocking” and says the figure is an “extremely robust” estimate of the true cost of fossil fuels. The $5.3tn subsidy estimated for 2015 is greater than the total health spending of all the world’s governments. The vast sum is largely due to polluters not paying the costs imposed on governments by the burning of coal, oil and gas. These include the harm caused...
  • BLM plan to close over 1,000 public routes riles western Colorado

    05/18/2015 10:51:26 AM PDT · by george76 · 67 replies
    Watchdog ^ | May 13, 2015 | Marjorie Haun
    A plan that will close nearly 2,000 miles of public roads that have previously been open for use by the people of Mesa County is creating a public backlash against the Grand Junction field office of the federal Bureau of Land Management. The BLM’s resource management plans (RMP) regulate the access and types of traffic allowed on roads on public lands. Road maintenance and seasonal closures are also detailed in such plans. But the most recent RMP in Mesa County indicates the BLM’s intent to limit access to public roads which have traditionally been open to motorized, horse, and foot...
  • The EPA Myth of “Clean Power”

    05/18/2015 8:36:56 AM PDT · by Sean_Anthony · 8 replies
    Canada Free Press ^ | 05/18/15 | Al Caruba
    What the EPA is attempting to impose on America is a drain on our production of electricity coupled with an increase in its price. It is an obscene attack on our economy There are many things I do not like about the Environmental Protection Agency, but what angers me most are the lies that stream forth from it to justify programs that have no basis in fact or science, and which threaten the economy. Currently, its “Clean Power” plan is generating its latest and most duplicitous Administer, Gina McCarthy, to go around saying that it will not be costly, nor...
  • The Death of the Green Energy Movement

    05/17/2015 8:56:44 PM PDT · by iowamark · 19 replies
    The Daily Signal ^ | May 08, 2015 | Stephen Moore
    The green energy movement in America is dead. May it rest in peace. No, a majority of American energy over the next 20 years is not going to come from windmills and solar panels. One important lesson to be learned from the green energy fad’s rapid and expensive demise is that central planning doesn’t work. What crushed green energy was the boom in shale oil and gas along with the steep decline in the price of fossil fuel that few saw coming just a few years ago. A new International Energy Agency report concedes that green energy is in fast...
  • Power generation from coal and natural gas expected to temporarily converge this spring

    05/16/2015 6:53:07 AM PDT · by thackney · 8 replies
    Energy Information Administration ^ | MAY 14, 2015 | Energy Information Administration
    EIA's most recent Short-Term Energy Outlook forecasts that the amount of electricity generation fueled by natural gas in April and May will total just 3.5% less than the projected amount of coal-fired generation. This convergence has occurred only once before, in April 2012, when natural gas fueled just 1.5% less generation than coal. Power generation from the two fuels is expected to rise at similar rates over the next couple months, and then diverge again later in the summer as demand rises and coal unit capacity utilization continues to rise. Natural gas-fired generation has been rising over the past few...
  • Promoters of renewable energy failed to account for the return of cheap oil

    05/15/2015 2:15:38 PM PDT · by Cry if I Wanna · 23 replies
    The Washington Times ^ | May 10, 2015 | Stephen Moore
    The green energy movement in America is dead. May it rest in peace. No, a majority of American energy over the next 20 years is not going to come from windmills and solar panels. One important lesson to be learned from the green energy fad’s rapid and expensive demise is that central planning doesn’t work. What crushed green energy was the boom in shale oil and gas along with the steep decline in the price of fossil fuel that few saw coming just a few years ago.
  • Stop the NGO Anti-Energy Menace

    05/15/2015 3:11:59 PM PDT · by Sean_Anthony · 2 replies
    Canada Free Press ^ | 05/15/15 | Dr. Klaus Kaiser
    Irresponsible NGOs like Greenpeace are running roughshod over societies. It's high time to stop that menace! The “new energy” comes out of the proclamations by non-government, non-accountable, and totally irresponsible organisations like Greenpeace, Sierra Club, D. Suzuki Foundation, 350-org, Avaaz, and their THOUSANDS of offshoots, affiliates, sympathizers, hangers-on, and totally blind, deaf, and entirely misled cohorts. Just look at Greenpeace’s latest demonstration at the hotel of the G7-Energy-Ministers in Germany, on May 12, 2015, at Hamburg, Germany, a prelude to this year’s COP-21 conference at Paris. Let me translate their message on the yellow signs (from their website): “STOP COAL...
  • Researchers demonstrate method that reduces friction between two surfaces to almost zero...

    05/15/2015 1:36:22 PM PDT · by Red Badger · 23 replies
    05-15-2015 | Bob Yirka
    A team of researchers working at Argonne National Laboratory, in Illinois, has found a way to dramatically reduce friction between two macroscopic scale surfaces—to near zero. In their paper published in the journal Science, the team describes how they accidently discovered the method and why they believe it might be useful for real world applications. As most people are aware, friction causes energy loss and wear and tear on mechanical parts—lubricants such as oil are used to help reduce friction and to dissipate heat, but scientists would really like to find a way to prevent it from happening in the...
  • Iran Accuses Oil Tanker Of Hit-And-Run In The Persian Gulf

    05/15/2015 11:00:13 AM PDT · by thackney · 4 replies
    Oil Pro ^ | 5/15/2015 | Jeff Reed
    On Thursday, Iranian boats fired shots across the bow of the Singapore-flagged oil tanker, Alpine Eternity, in the Persian Gulf in an attempt to stop the ship. Both US and Iranian sources say the reason for this action was an apparent attempt to disable the oil tanker over a financial row over damage to an Iranian oil platform. The US official told the AP that the Alpine Eternity is involved in a financial dispute with Iran. On March 22, the said tanker accidentally struck and damaged an Iranian oil platform. The tanker was also damaged in the incident and went...
  • Exclusive: Anti-Fracking Filmmaker Josh Fox Arrested In Finger Lakes Protest

    05/15/2015 10:22:31 AM PDT · by thackney · 33 replies
    The Daily Beast ^ | 05.13.15 | James Joiner
    The creator of the award-winning film ‘Gasland’ was just arrested at a protest in rural New York. Here’s the mini-documentary he made on the eve of his arrest. Award-winning documentary filmmaker Josh Fox, who wrote and directed the acclaimed fracking film Gasland, was arrested this afternoon while engaging in a human barricade at a natural-gas storage facility in the Finger Lakes. “People need to see what’s happening at Seneca Lake, and also understand that this isn’t isolated, it is happening everywhere,” Fox told The Daily Beast before the protest. “We need to educate people that our dependency on fossil fuels...
  • Shale tech could squeeze 141 billion barrels from oil fields outside the US

    05/15/2015 10:14:51 AM PDT · by thackney · 15 replies
    Fuel Fix ^ | May 14, 2015 | Collin Eaton
    Adapting the technology that powered the shale oil boom in Texas to the deserts of Saudi Arabia and elsewhere could produce 141 billion barrels of crude, research firm IHS said Thursday. Horizontal drilling and hydraulic fracturing, alongside other technological breakthroughs in recent years, could pump that much oil out of 170 older, largely unproductive fields around the world, from the Middle East to Latin America to Russia. In its initial assessment, IHS found 96 percent of the oil that could be recovered from those fields would have to be released using hydraulic fracturing, a process of blasting water, sand and...
  • Obama Throws Summit, Nobody Comes

    05/14/2015 8:00:59 PM PDT · by shove_it · 19 replies
    LibertyNewsNow ^ | 14 May 2015 | Adam Campbell
    What if you threw a summit and nobody came? Barack Obama learned that the hard way–when four of the six Persian Gulf heads of state he invited to Camp David stood him up. The point of Obama’s summit was to calm fears about his potential nuclear deal with Iran. The potential deal created some strange bedfellows worldwide: uniting often-contentious Middle Eastern nations, and creating a bipartisan push for changes in Congress, who all feel the deal, as-is, will have a disastrous effect on the Middle East. But, with so many no-shows from heads of state–who instead sent low-level dignitaries to...
  • Seattle, Like It or Not, Becomes Shell's Arctic Base

    05/14/2015 2:44:36 PM PDT · by Oldeconomybuyer · 23 replies
    ABC News ^ | May 14, 2015 | By PHUONG LE
    The arrival in Seattle Thursday of an oil rig Royal Dutch Shell is outfitting for oil exploration in the remote Arctic Ocean marks a pivotal moment for an environmental movement increasingly mobilized around climate change. Activists paddling out in kayaks to meet the rig off Seattle's picturesque waterfront said it's their moment to stand against opening a new frontier of fossil fuel exploration. "Unless people get out there and put themselves on the front lines and say enough is enough, than nothing will ever change," said Jordan Van Voast, 55, an acupuncturist who was going out on the water to...
  • U.S. Could Go All Out On Offshore Exploration

    05/14/2015 12:06:16 PM PDT · by bananaman22 · 3 replies
    Oilprice.com ^ | 14-05-2015 | Drillbit
    For project developers seeking the next big petro-play, some key news this week. With lawmakers in America moving to open one of the biggest swaths of new acreage in the history of the industry. On Tuesday, the U.S. senate introduced three bills to expand areas accessible for oil and gas drilling -- targeting the eastern Gulf of Mexico, Atlantic Ocean, and the Arctic. The Gulf of Mexico acreage would be the nearest play at hand. With this week's bill contemplating allowing drilling in this area as early as 2017.
  • Exxon Mobil is no longer the world's largest oil company

    05/14/2015 8:32:41 AM PDT · by SeekAndFind · 1 replies
    Business Insider ^ | 05/14/2015 | JOHN MANFREDA, OILPRICE.COM
    PetroChina just surpassed Exxon Mobil to become the largest energy company in the world, on a market cap basis. PetroChina was able to accomplish this despite Exxon’s growth of 1.5 billion barrels of oil equivalent (BOE) in reserves. These new reserves are located at the Permian Basin in West Texas and the Kearl Oil Sands project in Canada. PetroChina’s primary operations are located in China. This may not seem like a major oil hub to the average investor, but China is actually the 5th largest oil producing country in the world. Now the question becomes: can PetroChina retain its status...
  • Feds hand key LNG export license to Cheniere’s Corpus Christi project

    05/14/2015 7:04:28 AM PDT · by thackney · 3 replies
    Fuel Fix ^ | Jennifer A. Dlouhy | May 13, 2015
    The Obama administration has delivered a critical natural gas export license to Cheniere Energy’s proposed liquefaction terminal in Corpus Christi, marking the first such approval for a greenfield project that would not be built on the footprint of an older LNG facility. With the move late Tuesday, the Energy Department is allowing Cheniere to export as much as 2.1 billion cubic feet per day of liquefied natural gas over the next 20 years from the planned facility to countries with which the United States does not have free trade agreements. The company announced Wednesday that its board of directors had...
  • Documents show FBI illegally spied on Houston Keystone activists

    05/14/2015 5:29:18 AM PDT · by thackney · 11 replies
    Fuel Fix ^ | May 13, 2015 | Dylan Baddour
    FBI documents obtained by the Guardian and Earth Island Journal show the bureau colluded with an oil company and illegally spied on environmental activists in Houston. The Guardian reports the FBI’s Houston division closely monitored groups that oppose the Keystone-XL pipeline, cultivated informants in activist groups, and shared intelligence with TransCanada, the company building the pipeline. Furthermore, the investigations violated FBI policy because agents failed to get prior legal approval to begin monitoring the activists. In an interview with the Guardian, the bureau admitted the error. The documents, about 80 pages obtained through a Freedom of Information Act request, show...
  • Battered US Oil Firms Scramble to Delay Looming Retirement Wave

    05/14/2015 4:49:52 AM PDT · by thackney · 3 replies
    Rig Zone ^ | May 14, 2015 | Edward McAllister
    After 20 years in the oil business, Craig Reed, 62, is thinking about winding down his career just as a second downturn in six years rocks the industry. Reed is part of the baby boomer generation that forms the backbone of the U.S. oil workforce and now weighs retirement as energy firms cut spending and shelve projects. That is a worrying prospect for company executives keen to keep their most experienced workers while they ride out the oil market slump. "Between the politics and uncertainty and cost cutting, a lot of people of my age are saying that it isn't...
  • Attorney General Jack Conway files federal antitrust lawsuit against Marathon Petroleum

    05/13/2015 4:55:36 PM PDT · by Republican Wildcat · 7 replies
    cn|2 Pure Politics ^ | 5/12/2015 | Kevin Wheatley
    Kentucky Attorney General Jack Conway has sued Marathon Petroleum, accusing the fuel company on Tuesday of unfairly keeping competitors out of the state and keeping gas prices high. Conway filed the antitrust lawsuit in U.S. District Court in Louisville against the state’s largest supplier of gasoline and reformulated gasoline, which must be sold in Louisville and Covington during summer months to curb pollution from emissions. Louisville residents typically pay between 20 and 30 cents per gallon more than others throughout Kentucky, and a comparison of reformulated gasoline prices between Louisville and St. Louis revealed gasoline typically cost 25 cents more...
  • Shale-Oil Producers Ready to Raise Production

    05/13/2015 3:38:49 PM PDT · by abb · 7 replies
    The Wall Street Journal ^ | May 13, 2015 | Georgi Kantchev and Bill Spindle
    After slashing production for months, U.S. shale-oil companies say they are ready to bring rigs back into service, setting up the first big test of their ability to quickly react to rising crude prices. Last week, EOG Resources Inc. said it would ramp up output if U.S. prices hold at recent levels, while Occidental Petroleum Corp. boosted planned production for the year. Other drillers said they would open the taps if U.S. benchmark West Texas Intermediate reaches $70 a barrel. WTI settled at $60.50 Wednesday, while global benchmark Brent settled at $66.81. An increase in U.S. production, coupled with rising...
  • Saudi Arabia Continues To Turn Screws On U.S. Shale

    05/13/2015 11:50:03 AM PDT · by Opintel · 16 replies
    Oilprice.com ^ | 13-05-2015 | ShaleDefender
    Saudi Arabia continues to ratchet up production, taking market share away from U.S. shale producers. According to OPEC’s latest monthly oil report, Saudi Arabia boosted its oil output to 10.31 million barrels per day in April, a slight increase over the previous month’s total of 10.29 million barrels. That was enough for the de facto OPEC leader to claim its highest oil production level in more than three decades. Saudi Arabia has increased production by 700,000 barrels per day since the fourth quarter of 2014 in an effort maintain market share. The resulting crash in oil prices is forcing some...
  • Senate GOP launches attack on EPA climate rules

    05/13/2015 12:21:02 PM PDT · by Cincinatus' Wife · 9 replies
    The Hill ^ | May 13, 2015 | Timothy Cama
    Senate Republicans introduced a bill Wednesday that would overturn the Obama administration’s landmark climate rule for power plants and make it nearly impossible to rewrite them. The legislation represents the GOP’s first major legislative effort in the Senate to confront the Environmental Protection Agency’s (EPA) carbon dioxide limits it proposed last year. It reflects the Republican Party’s broad opposition to the regulations, which they say would cost billions of dollars, hundreds of thousands of jobs and have little to no environmental benefit. Republicans in both chambers have largely avoided legislation to stop the rules and instead focused their attention on...
  • Deepwater Drilling To Resume In Macondo Reservoir

    05/13/2015 10:17:00 AM PDT · by thackney · 8 replies
    Oil Pro ^ | 5/13/2015 | Luke Hale
    According to US federal records reviewed by the Associated Press, Louisiana-based LLOG Exploration Offshore plans to engage in deepwater drilling in the Macondo reservoir. The AP says Harper's Magazine first reported the drilling plans late Tuesday. The BSEE green-lighted LLOG's permit to drill a new well near the Macondo site on April 13. Last October, the company's exploration plan was approved after the conclusion of an environmental review conducted by the BOEM. Referring to the 2010 Macondo incident which occurred in the same reservoir, LLOG's vice president for deepwater projects, Rick Fowler, told the AP, "Our commitment is not to...
  • Germany’s Green-Power Program Crushes the Poor

    05/13/2015 6:34:00 AM PDT · by SeekAndFind · 15 replies
    National Review ^ | 05/12/2015 | Robert Zubrin
    On May 7, Tom Friedman published an op-ed in the New York Times filled with praise for Germany’s green-power program. “What the Germans have done in converting almost 30 percent of their electric grid to solar and wind energy from near zero in about 15 years has been a great contribution to the stability of our planet and its climate,” gushed Friedman. “ . . . This is a world-saving achievement.” Friedman is not alone in his admiration for the German energy program. President Obama has hailed it too, saying that the world should “look to Berlin” as the model...