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Keyword: energy

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  • New Technology Could End The Debate Over Pipeline Safety

    08/28/2014 2:21:07 PM PDT · by SeekAndFind · 8 replies
    OIL PRICE ^ | 08/28/2014 | James Stafford
    Who could have ever imagined that North America would surpass Saudi Arabia as the world’s largest producer of oil and natural gas liquids? A decade ago, that would have seemed laughable.Yet that’s exactly what has happened; and it’s not just Saudi Arabia that has been left in North America’s dust -- Russia has, too. The surge in North American oil and gas production is arguably the most important development in energy over the last decade. That’s the good news. The not so good news is that North America doesn’t have nearly enough oil and gas pipelines to accommodate its 11-million-barrel-a-day...
  • Kemp: Free Cash Flow Says Little About The Future Of Shale

    08/28/2014 12:48:01 PM PDT · by thackney · 2 replies
    Reuters via Rig Zone ^ | August 28, 2014 | John Kemp
    The independent companies at the forefront of the U.S. shale boom will finally earn enough from selling oil and gas to cover their capital expenditures next year, for the first time since 2008. Free cash flow, which measures operating cash flow minus capital spending, for the 25 leading independent oil and gas producers is expected to show a surplus of $2.4 billion in 2015, according to a consensus forecast in the Financial Times. That compares with a shortfall of around $9 billion in 2013 and $32 billion in 2012. ("Shale oil and gas producers' finances lift growth hopes" FT, Aug...
  • Rail deliveries of U.S. oil continue to increase in 2014

    08/28/2014 12:09:11 PM PDT · by thackney · 4 replies
    Energy Information Administration ^ | 8/28/2015 | Energy Information Administration
    The amount of crude oil and refined petroleum products moved by U.S. railroads increased 9% during the first seven months of this year compared with the same period in 2013. In July, monthly average carloadings of oil and petroleum products were near 16,000 carloads per week, according to the Association of American Railroads (AAR). The increase in oil volumes transported by rail reflects rising U.S. crude oil production, which reached an estimated 8.5 million barrels per day in June for the first time since July 1986. AAR estimates that more than half of the nearly 460,000 carloads tracked in its...
  • Americas coal heartland is in economic freefall but only the most desperate are fleeing

    08/28/2014 11:46:12 AM PDT · by Brad from Tennessee · 34 replies
    Washington Post ^ | August 28, 2014 | By Chico Harlan
    LOGAN, W.Va. For 51 years hed lived in the same hollow and for two decades hed performed the same job, mining coal from the underground seams of southern West Virginia. Then, on June 30, Michael Estep was jobless. His mine shut down, and its operator said market conditions made coal production unviable. What has come since, for Estep, stands as the new Central Appalachian economic experience: a job-hunt in a region whose sustaining industry is in an unprecedented freefall. I dont know what to do, Estep said as unpaid bills piled up, his cable cut to black, and his...
  • Germany's Energy Transition Dream at Risk of Becoming Nightmare

    08/28/2014 8:07:57 AM PDT · by thackney · 23 replies
    Rig Zone ^ | August 27, 2014 | Jon Mainwaring
    Wintershall's head of exploration and production warned Thursday that Germany's 'Energiewende' (or Energy Transition) dream of pursuing an economy powered by the wind and the sun is in danger of turning into a nightmare. Speaking to energy journalists at the ONS exhibition in Stavanger, Norway, Wintershall Executive Director Martin Bachmann said he was concerned about figures recently published by Statistics Norway that showed overall investment in Norway's petroleum sector will drop by EUR 6 billion ($7.9 billion) next year. "That is actually bad news for Europe's security of supply and I think Germany as the biggest market in Europe...
  • Fire out after BP Whiting refinery explosion

    08/28/2014 5:53:26 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | August 28, 2014 | Collin Eaton
    An explosion shook BPs biggest U.S. refinery late Wednesday in Whiting, Indiana, but appears to have left no serious injuries after a fire was extinguished. A spokesman for the Whiting Fire Department said Thursday a compressor at the refinery exploded, causing a blast that was felt at the station one-half mile away from the refinery. It caused a fire at the facility, but no injuries were reported, he said. One worker was taken to the hospital as a precaution, but was later released, BP spokesman Scott Dean said in an emailed statement. The London oil company said the fire was...
  • Shell sells some Nigerian onshore oil fields

    08/28/2014 5:26:30 AM PDT · by thackney · 6 replies
    Reuters ^ | August 27, 2014 | Ron Bousso and Tim Cocks
    Royal Dutch Shell said it had reached deals on some of the four Nigerian oil fields it has offered for sale as the oil major pushes ahead with divesting global assets to cut costs. Shell last year put up for sale its 30 percent shares in four oil blocks in the Niger Delta - Oil Mining Licences... - as well as a major pipeline, the Nembe Creek Trunk Line. "We have signed sales and purchase agreements for some of the oil mining leases, but not all that we are seeking to divest," a Shell spokesman said on Wednesday. In several...
  • Train delayed again? Blame the oil boom.

    08/28/2014 5:13:33 AM PDT · by thackney · 18 replies
    Christian Science Monitor ^ | AUGUST 27, 2014 | Jared Gilmour
    If youre stuck at a railroad crossing or trapped on a delayed Amtrak train, you might blame it on the US oil boom. US oil production is the highest in decades, and more and more crude is traveling by train. That is slowing shipments of grains, gravel, and even coal, as commodities and a resurgent oil industry compete for a finite amount of US rail. More oil pipelines could help ease the freight bottleneck, but those take time to build and have become controversial topics in the debate over the future of US energy. In the meantime, firms are taking...
  • U.S. liquid fuels production growth more than offsets unplanned supply disruptions

    08/27/2014 10:23:28 AM PDT · by thackney · 10 replies
    Energy Information Administration ^ | 8/27/2015 | Energy Information Administration
    Record-setting liquid fuels production growth in the United States has more than offset the rise in unplanned global supply disruptions over the past few years, although differences in quality and location suggest that the substitution may not be exactly 1-for-1. U.S. liquid fuels production, which includes crude oil, hydrocarbon gas liquids, biofuels, and refinery processing gain, grew by more than 4.0 million barrels per day (bbl/d) from January 2011 to July 2014, of which 3.0 million bbl/d was crude oil production growth. During that same period, global unplanned supply disruptions grew by 2.8 million bbl/d. U.S. production growth, the main...
  • Forecast: cheapest Labor Day gasoline since 2010

    08/27/2014 10:08:02 AM PDT · by thackney · 44 replies
    Fuel Fix ^ | August 27, 2014 | Ryan Holeywell
    Drivers hitting the roads during the upcoming holiday weekend will likely encounter good news: the cheapest Labor Day weekend gasoline prices since 2010. The forecast comes amid falling domestic and global crude prices, analysts at GasBuddy said. The benchmark price for U.S. crude is down nearly $9 per barrel since the Memorial Day weekend, and the the international price is down $7 in the same period. A downward trend in gasoline prices began in July and will likely continue through autumn, the gasoline price monitors said. Interestingly, the downward trend in crude comes despite several global conflicts in and around...
  • The reach of Qatar's clout

    08/27/2014 9:10:32 AM PDT · by thackney · 1 replies
    The Jerusalem Post ^ | 08/27/2014 | Michael Wilner
    No government has supported Hamas throughout its war with Israel more stridently than Qatar, hosting its leaders, funding its militarization, and, in recent weeks, blocking cease-fire efforts on Gaza brokered by Egypt and supported by the US. That might cause a modest rift between Washington and Doha, on opposite ends of the spectrum of the Israeli-Palestinian conflict. But neither country is so invested in challenging the policies of the other on Hamas to shake the foundations of the US-Qatar relationship, broadened well beyond what transpires in the Gaza Strip. The tiny state jutting into the Arabian Gulf, sitting on an...
  • US court scraps order to seize Kurdish crude from tanker near Texas

    08/27/2014 7:27:51 AM PDT · by DeaconBenjamin · 4 replies
    Hrriyet ^ | August/26/2014
    A U.S. court on Aug. 25 threw out an order to seize some 1 million barrels of disputed Iraqi Kurdish crude oil from a tanker near Texas, a move that could allow the cargo to be delivered and end a nearly month-long impasse. The United Kalavrvta tanker, carrying about $100 million worth of Kurdish crude, has been anchored in the Gulf of Mexico for weeks, as the Iraqi region of Kurdistan wages a legal battle over ownership with the central government of Iraq. At the request of Baghdad, the U.S. District Court for the Southern District of Texas in July...
  • Pickens: Pennsylvania natural gas production approaching that of Texas

    08/27/2014 5:55:28 AM PDT · by thackney · 13 replies
    Pittsburgh Business Times ^ | Aug 25, 2014 | Sam Kusic
    The oil and gas industry is the most dynamic industry in the U.S. and will remain so for a long time, according to T. Boone Pickens, chairman of BP Capital Management, who spoke Monday during Gov. Tom Corbett's Jobs 1st Summit in Pittsburgh. "What an opportunity for our country with 30 of our states being producing states," he said. Pickens said the country should take advantage of its energy resources and convert its fleet of commercial heavy-duty trucks over to natural gas. And it should form a strategic energy alliance with Canada and Mexico. Those two things he said could...
  • New $15bn coal mine in Australia to hire over 5,000 workers

    08/27/2014 5:14:08 AM PDT · by thackney · 1 replies
    Mining.com ^ | August 25, 2014 | Cecilia Jamasmie
    The developer of Australias US$15bn Carmichael coal mine, one of the worlds largest fossil fuel projects, said it will start hiring the over 5,000 people it needs for the construction phase beginning next year. With the announcement, Adani Group an Indian conglomerate with interests spanning mining, energy and logistics has doubled the estimates made when the coal mine and rail project got its final approval. Designed to eventually produce 60 million tonnes of thermal coal a year, the project consists of six open-cut pits and up to five underground mines, to supply coal-hungry Indian power plants with enough of the...
  • Texas lawmakers focus on oil boom

    08/27/2014 5:05:10 AM PDT · by thackney · 3 replies
    Houston Chronicle via Fuel Fix ^ | August 26, 2014 | Michael Brick
    In a preview of priorities for the next legislative session, state lawmakers at a hearing on Tuesday examined the ways the oil boom is changing life in Texas. Since the legislature last convened in 2013, budget officials have reported an unexpectedly large windfall from taxes on the petroleum industry, filling state coffers with a multi-billion dollar opportunity to address issues like the water shortage, transportation gridlock and troubled public schools. But industry practices have also wrecked roads, strained infrastructure, vexed police departments, drained water resources, polluted the air and set off knotty disputes among landowners, royalty claimants and oil companies....
  • Developer to Lease Ohio Site for Ethane Cracker

    08/26/2014 12:37:51 PM PDT · by thackney · 11 replies
    DownstreamToday via Rig Zone ^ | August 26, 2014 | Matthew V. Veazey
    Appalachian Resins, Inc. (AR) plans to lease approximately 50 acres of land in Salem Township, Ohio, to build an integrated 600 million pound per year ethylene/polyethylene production facility, the Houston-based firm announced in an emailed statement to DownstreamToday. "There is no difference in our development activities, we have essentially only moved across the Ohio River," James Cutler, AR's CEO, said Sunday after announcing his company's signing of a land lease letter of intent with the Monroe County (Ohio) Port Authority. "We will not be integrating with an existing operating (brownfield) facility but will be more of a 'greenfield' location. However,...
  • Domestic crude begins to cut into Saudi sales volumes

    08/26/2014 12:22:14 PM PDT · by thackney · 30 replies
    Fuel Fix ^ | Robert Grattan | Robert Grattan
    Since about 2009 and until just recently, Saudi Arabia shipped discounted crude to the U.S. in growing volumes even as total U.S. waterborne imports fell. But while Saudi Arabia isnt about to exit the U.S. market, cheaper domestic crude oils are beginning to displace Saudi imports. Daily U.S. crude imports fell from 11.8 million barrels in 2010 to 9.8 million barrels in 2013. Over roughly the same period, U.S. daily oil imports from Saudi Arabia rose from an annual average of just under 1.1 million barrels to about 1.5 million barrels, according to data from the U.S. Energy Information Administration....
  • ... world's first hydrogen reactor for reduction of unlimited hydrogen ...

    08/25/2014 10:16:16 PM PDT · by AZLiberty · 91 replies
    Kochari ^ | July 22, so14 | Solar Hydrogen Trends
    Solar Hydrogen Trends, Inc., developer of innovative breakthrough technology with the world’s first hydrogen reactor for production of unlimited hydrogen, conducts final series of control tests on technology PR NewswireMENLO PARK, Calif., July 22, 2014 MENLO PARK, Calif., July 22, 2014 /PRNewswire-iReach/ —  American company, Menlo Park based technology firm Solar Hydrogen Trends, Inc. (www.SolarHydrogenTrends.com) today announced that it has conducted a final series of control tests on hydrogen reactor Symphony 7A.Photo – http://photos.prnewswire.com/prnh/20140722/129200A follow-up series of tests was required due to the fact that the two previous series of tests had shown such incredible production of hydrogen in reactor...
  • The Worlds Most Dangerous Dams

    08/26/2014 10:15:39 AM PDT · by thackney · 36 replies
    Oil Price ^ | 25 August 2014 | Llewellyn King
    ...The first is the Mosul Dam, which stretches across the Tigris River in a valley north of Mosul, Iraq. As dams go, this one is a civil engineering horror. The dam was captured on Aug. 7 by the Islamic State, and retaken 10 days later by... Should the two-mile-wide dam fail, which is likely, Mosul would be wiped out and the damage would extend to Baghdad. Loss of life could reach 500,000, and millions could be deprived of water and power: an immense catastrophe piled on the daily pain of Iraq. The second dam, in southern Africa on the Zambezi...
  • Slow Going for Natural-Gas Powered Trucks

    08/26/2014 6:14:13 AM PDT · by thackney · 38 replies
    Wall Street Journal ^ | Aug. 25, 2014 | BOB TITA
    ...Higher purchase prices compared with diesel trucks, improved diesel fuel economy and continued scarcity of fueling stations are damping natural-gas-powered truck demand. About 10,480 of the heavy-duty trucks are expected to be sold this year, up 20% from the 8,730 sold last year, according to Power Systems Research. However, some forecasters had expected sales to about double to 16,000 vehicles this year amid the trucking industry's enthusiasm for natural gas a year ago. What happened? A big roadblock remains the premium for a heavy-duty gas truck$50,000 more than the about $150,000 for a new diesel-powered truck. In theory, the payback...
  • North Dakota: Legendary Among States. Residents happy with the economy, education, air quality

    08/26/2014 6:00:11 AM PDT · by SeekAndFind · 14 replies
    Gallup ^ | 08/27/2014 | by Art Swift
    WASHINGTON, D.C. -- "Oil boom" is probably the first phrase that comes to mind when one thinks about North Dakota. Yet North Dakotans see their state as much more than oil. They are highly satisfied with their schools, their air quality, their ability to find a quality job, and their overall standard of living. In Gallup's comprehensive survey of all 50 states, North Dakota ranks No. 1 on a variety of indicators spanning economics, public affairs, education, the environment, and well-being. In 2014, North Dakota is a complex, thriving state that is adapting rapidly to the economic and social factors...
  • Pioneer believes that through 2016 it can add more than 600 million BOE in proved reserves

    08/25/2014 4:15:19 PM PDT · by ckilmer · 15 replies
    fool.com ^ | August 25, 2014 | By Matt DiLallo
    3 Reasons Why Pioneer Natural Resources Stock Could Rise By Matt DiLallo | More Articles | Save For Later August 25, 2014 | Comments (0) Pioneer Natural Resources (NYSE: PXD) stock has gone up nearly 600% in just the past five years. That has crushed the market, which is up just over 92% over that same time period. Despite the market-crushing returns, there's still a lot of fuel left in Pioneer Natural Resources' tank. Here are three reasons why the stock could continue to rise.It's sitting on nearly 10 billion barrels of recoverable oil and gas Pioneer Natural Resources believes...
  • Inside North Dakota's latest fracking problem

    08/25/2014 3:41:20 PM PDT · by Lorianne · 26 replies
    CNBC/Reuters ^ | 22 August 2014 | Brad Quick | Morgan Brennan
    From his driveway, Tom Wheeler's view of North Dakota's sprawling grasslands seems endless. Fields of soy, wheat and canola stretch to the horizon in all directions. But as drillers flock to the state to cash in on North Dakota's booming shale play, that horizon has become increasingly marked by natural gas flares. Flaring is the burning of natural gas that can't be processed or sold. All those flares, meanwhile, are adding up. They burn so brightly that NASA astronauts have taken pictures of their glow from space. For some landowners like Wheeler, it's not the noise or light pollution that...
  • The War on Coal: Its Because Im Black, Isnt it?

    08/24/2014 8:44:25 AM PDT · by NOBO2012 · 11 replies
    Michelle Obama's Mirror ^ | 8-24-2014 | MOTUS
    I see that both the Farmers Almanac and Joe Bastardi (the other Joey B) are predicting another El Nino winter, which means a stormier and colder than normal winter, especially along the east coast. That could prove to be a bit of a problem since power companies apparently took Barry at his word that if somebody wants to build a coal plant, they can its just that it will bankrupt them. So they didnt. And theyre closing the coal plants they do have: In order to comply with the new Obama era EPA regs, American Electric Power, which supplies...
  • As oil boom continues, theres no end in sight for job growth

    08/25/2014 11:45:34 AM PDT · by thackney · 12 replies
    Dallas News ^ | 20 August 2014 | JAMES OSBORNE
    <p>Texas has surpassed 300,000 jobs in the oil and natural gas sector as the oil boom drives job growth for a fourth straight year.</p> <p>According to the data released this week by the U.S. Bureau of Labor Statistics, the state gained more than 20,000 oil and gas jobs since July 2013, its largest increase since April 2013.</p>
  • LyondellBasell plans new chemical plant for Texas Gulf Coast

    08/25/2014 10:13:40 AM PDT · by thackney · 8 replies
    Fuel Fix ^ | August 25, 2014 | Rhiannon Meyers
    Capitalizing on abundant supplies of cheap natural gas liquids unlocked in the U.S. shale boom, LyondellBasell plans to build a chemical plant on the Texas Gulf Coast, the company announced Monday. With the capacity to produce 900 million pounds of propylene oxide and 2 billion pounds of tertiary butyl alcohol each year, the plant will be the largest of its kind for the Houston-based plastics, chemicals and refining giant, spokesman George Smalley said. The company operates several such plants in the Houston area. LyondellBasell did not disclose how much the plant will cost, but projects of similar size cost more...
  • Vancouver Port Authority gives go ahead for construction of controversial coal shipping facility

    08/25/2014 5:11:12 AM PDT · by thackney · 11 replies
    Stockhouse ^ | 8/22/2014 | The Canadian Press
    Metro Vancouver' port authority has approved construction of a controversial coal-shipping facility in a major marine terminal. Fraser Surrey Docks has been given a permit by Port Metro Vancouver to build the facility along the Fraser River that will handle four million metric tonnes of coal each year. Environmentalists, many residents and the region's medical health officers have expressed concerns about the effect on air quality and potential harm to the surrounding environment. Peter Xotta, of Port Metro Vancouver, says the decision was not taken lightly but a comprehensive review found there were no unacceptable risks from the development. Fraser...
  • 'Widespread methane leakage' from ocean floor off US coast

    08/24/2014 6:59:06 PM PDT · by NormsRevenge · 62 replies
    BBC News ^ | 8/24/14 | Matt McGrath
    Researchers say they have found more than 500 bubbling methane vents on the seafloor off the US east coast. The unexpected discovery indicates there are large volumes of the gas contained in a type of sludgy ice called methane hydrate. There are concerns that these new seeps could be making a hitherto unnoticed contribution to global warming. The scientists say there could be about 30,000 of these hidden methane vents worldwide. Previous surveys along the Atlantic seaboard have shown only three seep areas beyond the edge of the US continental shelf.
  • Why Is It So Hard for Employers to Fill These Jobs?

    08/24/2014 6:54:55 AM PDT · by 2ndDivisionVet · 178 replies
    The Daily Signal ^ | August 23, 2014 | Stephen Moore
    America has a deficit of workers. Willing workers. Capable workers. Skilled, or at least semi-skilled workers, who can do a job and do it well. There are at least one million jobs that go begging day after day if only employers could find workers to fill them. This probably seems hard-to-believe. After all, how can America have a worker shortage when we have about 18 million Americans who are unemployed or underemployed? When the real unemployment rate is 12 percent? Well certainly the economy isnt creating nearly as many jobs as it should in large part because of regulatory...
  • Lungmen 1 passes pre-operational tests

    08/23/2014 11:44:10 PM PDT · by Rabin · 1 replies
    world-nuclear-news ^ | 01 August 2014 | Staff
    Pre-operational tests have been successfully completed at unit 1 of the Lungmen nuclear power plant in Taiwan. Start-up of the reactor has been delayed until a national referendum, not expected for up to another three years. Construction work began on the two 1350 MWe Advanced Boiling Water Reactors at Lungmen, in 1999, with the first scheduled to enter commercial operation in 2006 and the second in 2007. NT$300 billion ($10 billion) has already been spent building the plants both of which, will now mothball.
  • Ending ban on oil exports would mean cheaper gasoline, energy executive says

    08/22/2014 10:12:52 PM PDT · by ckilmer · 27 replies
    fuelfix.com ^ | August 22, 2014 at 7:51 pm | Vicki Vaughan
    Ending ban on oil exports would mean cheaper gasoline, energy executive says Posted on August 22, 2014 at 7:51 pm by Vicki Vaughan in Crude oil, Eagle Ford, Gasoline, LNG, Markets EmailPrint2 inShare (Jeff Pachoud/AFP/Getty) Should the government end its 40-year-old ban on exporting crude oil, the nation would enjoy benefits ranging from jobs to a decline in gasoline prices, an oil industry economist said in a talk this week in San Antonio.ConocoPhillips senior economist Helen Currie, citing a study by the energy consulting firm IHS Inc., said prices at the pump would fall by about 8 cents a gallon...
  • EU ban on powerful vacuum cleaners prompts anger and legal challenge

    08/22/2014 12:27:08 PM PDT · by Olog-hai · 47 replies
    Manchester Guardian ^ | Thursday 21 August 2014 14.58 EDT | Rebecca Smith, consumer affairs correspondent
    Consumers are being urged to buy powerful vacuum cleaners while they can after it emerged that some of the most powerful models on the market will disappear in September when a new EU rule comes into force. An EU energy label, to be introduced from 1 September, means manufacturers will not be able to make or import vacuum cleaners with a motor that exceeds 1,600 watts.The Which? consumer group said many of its Best Buy models had motor sizes that exceeded this, so if youre in the market for a powerful vacuum, you should act quickly, before all of the...
  • Scientists develop a water splitter that runs on an ordinary AAA battery

    08/22/2014 10:51:36 AM PDT · by Red Badger · 95 replies
    Phys.org ^ | 08-22-2014 | Provided by Stanford University
    In 2015, American consumers will finally be able to purchase fuel cell cars from Toyota and other manufacturers. Although touted as zero-emissions vehicles, most of the cars will run on hydrogen made from natural gas, a fossil fuel that contributes to global warming. Now scientists at Stanford University have developed a low-cost, emissions-free device that uses an ordinary AAA battery to produce hydrogen by water electrolysis. The battery sends an electric current through two electrodes that split liquid water into hydrogen and oxygen gas. Unlike other water splitters that use precious-metal catalysts, the electrodes in the Stanford device are made...
  • Plains All American to build pipeline from Cushing to Memphis

    08/22/2014 5:11:04 AM PDT · by thackney · 10 replies
    Fuel Fix ^ | August 21, 2014 | Vicki Vaughan
    Valero Energy Corp.s Memphis, Tenn., refinery will begin receiving more low-cost domestic crude oil in two years as part of a plan by another company to build a pipeline to the plant. Houston-based Plains All American Pipeline LP said Thursday it plans to build a pipeline that would deliver as much as 200,000 barrels a day of crude oil to Valeros Memphis plant when its completed in late 2016. The 440-mile, 20-inch pipeline will link Plains Cushing, Okla., terminal to Valeros plant and cost an estimated $900 million. Locally based refiner Valero holds an option until January 2016 to buy...
  • ISIS' thirst for oil could lead to 'global catastrophe' if unchecked, experts say

    08/21/2014 6:53:42 PM PDT · by 2ndDivisionVet · 21 replies
    Fox News ^ | August 21, 2014 | Joshua Rhett Miller
    Islamic State's thirst for blood has the world on edge, but its equally insatiable yearning for oil could prove a "catastrophe" for the global economy if the terror organization isn't stopped, experts say. The jihadist group, formerly known as ISIS, now controls seven oil fields and two small refineries in northern Iraq, bringing in as much as $2 million per day by selling up to 40,000 barrels via middlemen in illicit deals. The black market oil sells for roughly $25 to $60 per barrel, compared to the current market rate of $102, according to Luay al-Khatteeb, founder and executive director...
  • Must-know: Tighter-than-expected oil supply in the future

    08/21/2014 4:09:40 PM PDT · by ckilmer · 24 replies
    marketrealist ^ | Aug 21, 2014 10:08 am EDT | Russ Koesterich, CFA
    Must-know: Tighter-than-expected oil supply in the future By Russ Koesterich, CFA - Disclosure • BlackRock  • Aug 21, 2014 10:08 am EDT First, here’s a quick look at my expectations for oil supply and demand. Currently, oil prices remain elevated because global demand has continued to climb, despite slower growth in China (FXI), and supply overall has been unexpectedly constrained by both geology and geopolitical unrest. Looking forward, oil supply is likely to remain constrained and oil demand is likely to continue to grow.Oil supply: There’s a good chance that future oil supply may be tighter than expected. Currently, oil prices...
  • Repeal fails, tax reform upheld {Alaska Oil Tax}

    08/21/2014 2:00:33 PM PDT · by thackney · 13 replies
    Alaska Journal of Commerce ^ | 2014.08.21 | TIM BRADNER
    A referendum to roll back an oil production tax change made in 2013 was defeated by voters in the states primary election held Aug. 19. Ballot Measure 1, which would have reinstated the states previous tax known as ACES that was repealed in 2013, was voted down 52 percent to 48 percent, or a margin of about 6,800 votes, the Division of Elections reported in late results with 98.6 percent of the votes counted. Earlier in the evening of Aug. 19 the yes votes had a thin majority of a few hundred for repeal with about 25 percent of the...
  • Petroleum Engineers See Highest Increase in Median Average Salary

    08/21/2014 12:00:52 PM PDT · by thackney · 1 replies
    Rig Zone ^ | August 21, 2014 | Karen Boman
    Petroleum engineers experienced the highest increase in median annual salary since 2011, according to a recent report from the American Geosciences Institute (AGI). In 2013, the median average salary for petroleum engineers was $132,000, and had increased by more than $10,000 since 2011, according to the Aug. 12 report, which quoted data from the U.S. Bureau of Labor Statistics. Since 2011, all geoscience occupations with the exception of atmospheric and space scientists, geographers, environmental science and protection technicians, engineering postsecondary teachers, and atmospheric, earth, marine and space sciences post-secondary teachers recorded increases in their median annual salaries, while...
  • Refracking brings 'vintage' oil and gas wells to life

    08/21/2014 9:24:35 AM PDT · by ckilmer · 26 replies
    samachar ^ | Aug 20, 2014,
    Refracking brings 'vintage' oil and gas wells to life Aug 20, 2014, 10.43AM IST (The development highlights…) HOUSTON/WILLISTON, NORTH DAKOTA: A fracking boom isn't enough for U.S. oil and gas producers - they're now starting the re-fracking boom.Wells sunk as little as three years ago are being fracked again, the latest innovation in the technology-driven shale oil revolution. Hydraulic fracturing, which has upended global energy markets by lifting U.S. crude oil output to a 25-year high, has been troubled by quick declines in oil and gas output. The development highlights how producers must constantly invest and tinker, both to...
  • Turn natural gas into gasoline for $1 per gallon

    08/21/2014 8:50:09 AM PDT · by ckilmer · 73 replies
    peakoil.com ^ | August 21, 2014
    Turn natural gas into gasoline for $1 per gallon The clear liquid flowing from a collection of pipes and wires in a Hayward industrial park smells just like gasoline, and for all practical purposes, it is.But it wasn’t made from crude oil. Instead, it came from natural gas, the fuel whose sudden abundance in America is reshaping the country’s energy landscape.Siluria Technologies says it can produce large quantities of gasoline, diesel, jet fuel and chemicals at a lower cost than traditional refineries and chemical plants. At today’s natural gas prices, Siluria’s technology could make gasoline at roughly $1 per gallon, according to...
  • Eagle Ford wave lifts Blue Dolphin Energy refinery

    08/21/2014 5:30:24 AM PDT · by thackney · 1 replies
    Fuel Fix ^ | August 21, 2014 | Vicki Vaughan
    The Eagle Ford Shale is boosting the fortunes of Blue Dolphin Energy Co., which took a chance when it bought a rusty, mothballed refinery in the small town of Nixon about seven years ago. Blue Dolphin bought the plant out of bankruptcy before the promise of the Eagle Ford was apparent. The company spent tens of millions refurbishing the plant and restarted it in early 2012. Nixon, which is about 54 miles east of San Antonio, straddles Gonzales and Wilson counties in a booming part of the shale play. The plant buys every drop of its crude oil from drillers...
  • Gulf Coast to benefit from refinery retrofits

    08/21/2014 5:27:02 AM PDT · by thackney · 2 replies
    Fuel Fix ^ | August 21, 2014 | Rhiannon Meyers
    The Texas Gulf Coast will be ground zero for a push to equip refineries to handle a flood of light crude unlocked in the U.S. shale boom, but the investments will be relatively conservative, a petrochemical consultant said Wednesday. Refiners wont spend the big bucks they dropped when they retooled to handle heavy, high-sulfur crude several years ago, largely because its cheaper and simpler to modify a refinery to process lighter crude, said Jim Jones, senior vice president at Dallas-based petrochemical consulting firm Turner, Mason and Company. It wont be a $5 billion investment, it will be a couple million...
  • Report: EPA Exceeds Its Authority With Proposed Rules

    08/20/2014 8:15:56 PM PDT · by Tolerance Sucks Rocks · 11 replies
    The Daily Caller ^ | August 19, 2014 | Peter Fricke
    Congress should use the appropriations process to reassert its authority over the Environmental Protection Agency, according to a Heritage Foundation issue brief released Tuesday.The report, written by scholar Daren Bakst, identifies three issues on which the EPA has proposed rules and regulations that exceed its authority. In all three cases, Bakst recommends that Congress prohibit the agency from using its funding to implement the proposals. (RELATED: EPA Overrides Congress, Hands Over Town to Indian Tribes)According to the report, “the EPA is using the regulatory process to require greenhouse gas emission reductions even as Congress has been unwilling to take such...
  • Investigators release Quebec train disaster report

    08/20/2014 6:27:56 AM PDT · by thackney · 14 replies
    Fuel Fix ^ | August 19, 2014 | Associated Press
    The weak safety culture of a now-defunct railway company and poor government oversight were among the many factors that led to an oil train explosion that killed 47 people in Quebec last year, Canadas Transportation Safety Board said in a new report released Tuesday. TSB chair Wendy Tadros said 18 factors played a role, including a rail company that cut corners and a Canadian regulator that didnt do proper safety audits. The safety board issued its report 13 months after a runaway train carrying 72 carloads of volatile oil from North Dakota derailed, hurtled down an incline and slammed into...
  • Texas price gap widens as oil production rises

    08/19/2014 12:55:11 PM PDT · by thackney · 18 replies
    Fuel Fix ^ | August 19, 2014 | Robert Grattan
    The gap between crude oil prices in the major trading centers of Midland, Texas and Cushing, Okla. ballooned to $19 Tuesday morning, the widest point this year and second-highest on record. On Tuesday morning, the price for crude oil hit a low of $77.48 per barrel in Midland. In Cushing, the benchmark pricing point for U.S. crude contracts, the price was $96.48. Worldwide crude prices fell, Bloomberg reported, after Iraqi and Kurdish forces regained control of a key dam in Iraq and slowed the advance of Islamic State militants. Midland prices are further depressed because production growth in West Texas...
  • Pickens: Brent crude will be above $100 forever

    08/19/2014 12:54:27 PM PDT · by ckilmer · 5 replies
    cnbc ^ | 4 Hours Ago | Jackie DeAngelis
    Pickens: Brent crude will be above $100 forever Jackie DeAngelis | @JackieDeAngelis 4 Hours AgoCNBC.com 72 SHARES                         39COMMENTSJoin the Discussion Oil and gas entrepreneur T. Boone Pickens thinks international oil prices will stay high indefinitely—over $100 a barrel—despite recent declines in the futures market. Adam Jeffery | CNBC T. Boone Pickens At the Investools 4th Annual Investor Education Conference in Dallas, Pickens reminded investors that OPEC's largest producer, Saudi Arabia, needs oil prices to remain elevated in order to maintain its social spending programs; therefore, the Organization...
  • Hoping for its own shale gale, China seeks U.S. know-how

    08/19/2014 9:15:19 AM PDT · by thackney · 9 replies
    Fuel Fix ^ | August 17, 2014 | FuelFix.com
    Chinese oil companies are giving U.S. firms a bigger stake in exchange for the tools and technology of hydraulic fracturing, and many of those tools are made in Texas, or nearby. The Chinese hope hydraulic fracturing can launch a shale production gusher as it has in the United Statesalthough Chinas formations are deeper, and some are especially challenging because theyre in remote deserts or near densely populated cities. But the Chinese government is eager to reduce the countrys thick air pollution, and one step in that direction would be power plants that run on cleaner-burning natural gas instead of coal....
  • Birds Bursting Into Flames Above Solar Farm Stirs Calls To Slow Expansion

    08/19/2014 8:19:59 AM PDT · by Focault's Pendulum · 67 replies
    CBSAP ^ | August 18, 2014 11:25 AM | AP
    (CBS/AP) Workers at a state-of-the-art solar plant in the Mojave Desert have a name for birds that fly through the plants concentrated sun rays streamers, for the smoke plume that comes from birds that ignite in midair.
  • 5 Things Pioneer Natural Resources Management Wants You to Know

    08/18/2014 11:15:30 PM PDT · by ckilmer · 29 replies
    fool.com ^ | August 18, 2014 | By Matt DiLallo
    5 Things Pioneer Natural Resources’ Management Wants You to Know By Matt DiLallo | More Articles | Save For Later August 18, 2014 | Comments (0) Pioneer Natural Resources' (NYSE: PXD  ) management team earlier this month spent nearly 75 minutes discussing its second-quarter results with analysts and investors. The company believes it is sitting on more than 10 billion barrels of recoverable oil and gas in the Permian Basin. Here's what management wants investors to know about its plans to create value from that massive resource. No. 1: The water issue is slowly drying upOne reason for Pioneer Natural Resources' large...
  • BrightSource solar plant sets birds on fire as they fly overhead ($2.2B plant heats 100,000 homes)

    08/18/2014 9:08:45 PM PDT · by Innovative · 32 replies
    CBC Canada ^ | Aug 18, 2014 | AP
    Death estimates range from 1,000 to 28,000 per year The $2.2 billion plant, which launched in February, is at Ivanpah Dry Lake near the California-Nevada border. Unlike many other solar plants, the Ivanpah plant does not generate energy using photovoltaic solar panels. Instead, it has more than 300,000 mirrors, each the size of a garage door. Together, they cover 1,416 hectares. Each mirror collects and reflects solar rays, focusing and concentrating solar energy from their entire surfaces upward onto three boiler towers, each looming up to 40 stories high. The solar energy heats the water inside the towers to produce...