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Keyword: methane

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  • The Oil Glut is Not Real

    05/27/2015 11:37:06 AM PDT · by bananaman22 · 5 replies
    Oilprice.com ^ | 27-05-22015 | No Glut
    As it appears GDP will be seasonally adjusted again, I find myself wondering just one thing: why? Earlier GDP figures showed the US economy on the brink of recession for the first two quarters of this year. Now, with more fudging going on, who knows what it will show. The government appears to be following the Hollywood mantra: if you can bend perception enough, it will become reality. Look no further than the Federal Reserve, which continues to raise expectations of higher interest rates in the second half of this year, in hopes of inducing faster growth.
  • Mystery Methane on Mars: The Saga Continues

    05/26/2015 12:13:04 PM PDT · by EveningStar · 30 replies
    Astrobiology Magazine ^ | May 14, 2015 | Johnny Bontemps
    A scientist has raised questions about the latest detection of methane on Mars, suggesting that NASA’s rover could be responsible for the mysterious burp. Highly unlikely, but not impossible, says the Curiosity team.
  • Oil-patch women say energy industry is safe place with opportunities(Antfrac group says no)

    05/25/2015 3:05:38 PM PDT · by bestintxas · 8 replies
    foxnews ^ | 5/25/15 | r port
    <p>Judging by its critics, the energy industry – and specifically the oil and gas industry in North Dakota – isn’t female-friendly. Yet women who live and work in the oil patch say the energy industry isn’t just a safe place for women, but that there are plenty of opportunities for everybody.</p>
  • Kerry: Ben Franklin Could Not Be Confirmed to Office If He Lived Today

    05/25/2015 12:28:57 PM PDT · by Olog-hai · 46 replies
    Cybercast News Service ^ | May 25, 2015 | 11:03 AM EDT | (CNSNews.com Staff)
    At a reception at the State Department that marked the U.S. taking over the chairmanship of the Arctic Council, Secretary of State John Kerry said that if Benjamin Franklin lived today and was nominated for office he would never be confirmed. […] “(T)here is, of course, a second connection between Franklin and this reception,” Kerry said. “And that is that he liked to have a really good time, folks. And he didn’t spare the booze, and while he was in Paris he led a life that clearly meant that had he lived today and been nominated, he would never have...
  • Oil Markets Can’t Ignore The Fundamentals Forever

    05/25/2015 11:59:22 AM PDT · by bananaman22 · 18 replies
    Oilprice.com ^ | 25-5-2015 | Arthur
    Storage withdrawals and falling rig count have been the main sources of hope that U.S. tight oil production will fall and that oil prices will rebound. That hope is fading as it is now clear that recent withdrawals from U.S. crude oil storage are because of price, not falling supply, and that the drop in rig count has stalled. Figure 1 below shows the relationship between U.S. crude oil storage inventory and WTI price. The thinking around recent withdrawals from storage is that this reflects depleting supply. The data, however, reflects that traders were storing crude oil during the price...
  • Putin signs Russian law to shut ‘undesirable’ organizations

    05/23/2015 10:13:01 PM PDT · by Olog-hai · 20 replies
    Associated Press ^ | May 24, 2015 12:18 AM EDT
    President Vladimir Putin signed a bill into law Saturday giving prosecutors the power to declare foreign and international organizations “undesirable” in Russia and shut them down. […] The law is part of a Kremlin campaign to stifle dissent that intensified after Putin began his third term in 2012. His return to the presidency had been accompanied by mass street protests that Putin accused the United States of fomenting. Russian suspicions of Western intentions have been further heightened because of tensions over Russia’s role in the conflict in Ukraine. The new Russian law allows prosecutors to declare an organization undesirable if...
  • Secret Pentagon Report Reveals US "Created" ISIS As A "Tool" To Overthrow Syria's President Assad

    05/23/2015 7:00:26 PM PDT · by Rockitz · 147 replies
    ZeroHedge.com ^ | 23 May 2015 | Tyler Durden
    From the first sudden, and quite dramatic, appearance of the fanatical Islamic group known as ISIS which was largely unheard of until a year ago, on the world's stage and which promptly replaced the worn out and tired al Qaeda as the world's terrorist bogeyman, we suggested that the "straight to beheading YouTube clip" purpose behind the Saudi Arabia-funded Islamic State was a simple one: use the Jihadists as the vehicle of choice to achieve a political goal: depose of Syria's president Assad, who for years has stood in the way of a critical Qatari natural gas pipeline, one which...
  • U.S. retail gasoline prices lowest since 2009 heading into Memorial Day weekend

    05/22/2015 5:07:46 AM PDT · by thackney · 12 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...
  • '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 Fuel Investments Yield Big Returns for State Pension Funds

    05/19/2015 2:09:00 PM PDT · by MichCapCon · 3 replies
    Michigan Capitol Confidential ^ | 5/15/2015 | Tom Gantert
    The oil and gas industry has been one of the better investments made by Michigan’s two largest government employee pension funds, according to a recent report by Sonecon LLC, a Washington D.C. economic advisory firm. The report examined the combined investment returns of Michigan's separate pension funds for school and state employees. Together, their investments in oil and natural gas companies gave a rate of return that was 37 percentage points higher than the return on all of their investments. Oil and gas investments outpaced investments in other industries by 43 percentage points. Due to chronic underfunding, both pension funds...
  • 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...
  • Big Oil May Be Caught Off-Guard By Wave Of Retirement

    05/18/2015 11:12:48 AM PDT · by bananaman22 · 19 replies
    Oilprice.com ^ | 18-05-2015 | Oil Jobs
    While we constantly analyze short-term data, the industry has a longer-term problem. And it is not related to what lies below the ground. There is a retirement tidal wave that could wash over the oil and gas industry over the next few years. The seeds of this crisis were planted in the late 1980’s after the last major oil bust. Oil prices crashed after Saudi Arabia became fed up with losing market share, and beginning around 1986, it pumped flat out in order to force out other producers. The price of oil crashed and a lot of US drillers cut...
  • IMF Attempts to Hide True Cost of Renewables by Claiming Fossil Fuels Receive Large Subsidies

    05/18/2015 11:39:11 AM PDT · by bestintxas · 10 replies
    breitbart ^ | 5/18/15 | Donna Rachel Edmunds
    Fossil fuel companies are benefiting from a global subsidy of Ł3.4 trillion a year, the International Monetary Fund has declared. The figure dwarfs that of government handouts for renewable energies, which amount to Ł77 billion a year. But closer inspection reveals the fossil fuel related sum not to be a subsidy, as it amounts to nothing more than the alleged costs to governments of dealing with fossil fuel pollution. The IMF have insisted that their figure is “shocking,” but “extremely robust”, and are using it to lobby for an end to “subsidies” for fossil fuel companies on both health and...
  • 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 (Ł3.4tn) 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...
  • China Retakes Top Spot as the Biggest Foreign Owner of U.S. Debt

    05/16/2015 7:45:29 PM PDT · by Steelfish · 6 replies
    Wall St. J ^ | May 16, 2015 | IAN TALLEY
    China Retakes Top Spot as the Biggest Foreign Owner of U.S. Debt By IAN TALLEY It was a short-lived domination. After just a month of being the top holder of U.S. Treasury debt, Japan has once again been pushed into the No.2 slot as China bulked up on Uncle Sam’s bonds and notes. As we noted last month – and several times before that – Treasury’s data is a rough guesstimate. That makes it hard for analysts sifting through the obscure sheaves of digital data to glean anything but rough trends. It also makes it difficult to draw precise conclusions....
  • The arguments that convinced a libertarian to support aggressive action on climate

    05/13/2015 6:05:00 PM PDT · by Citizen Zed · 46 replies
    vox ^ | 5-12-2015 | David Roberts
    To the casual observer, the American right can appear an undifferentiated wall of denial and obstructionism on climate change, but behind the scenes there are signs of movement. A growing number of conservative leaders and intellectuals have come to terms with climate science and begun casting about for solutions. Led mainly by libertarians and libertarian-leaning economists, they've begun to coalesce behind a carbon tax, which they consider the most market-friendly of the available alternatives. Jerry Taylor, a longtime veteran of the libertarian think tank Cato Institute who recently founded his own libertarian organization, the Niskanen Center, is a vocal proponent...
  • A Narrow Opening for Arctic Oil

    05/13/2015 5:30:40 AM PDT · by thackney · 3 replies
    New York Times ^ | MAY 12, 2015 | NYT EDITORIAL BOARD
    ...Shell acquired the lease for just over $2 billion in 2008, and, absent a very good reason, the government felt obliged to approve it. Shell will be bound by safeguards that did not exist seven years ago. Several factors — including lawsuits and vigorous lobbying by environmental groups, widespread public dismay caused by the 2010 BP oil spill, and Shell’s ineptitude in earlier trial runs — have led the government to devise rules that are likely to make this project safer than it would have been. Shell is seeking to drill up to six exploratory wells in the Chukchi Sea...
  • Low crude prices may thin, but not kill, US production, speakers say

    05/13/2015 5:42:31 AM PDT · by thackney · 5 replies
    Oil Gas Journal ^ | 05/12/2015 | Nick Snow
    Overseas competitors who were caught off-guard initially by rising US unconventional crude oil production have increased their own outputs now and can be expected to try and keep prices low to protect their global market shares, speakers at a May 12 Atlantic Council discussion said. That could make marginal US unconventional properties uneconomic, but won’t threaten the new US position as a major producing nation, they agreed. “We’re entering a phase when all the excess capacity will be resized to the new US world market share,” said Subash Chandra, managing director and senior equity analyst at Guggenheim Partners. “I don’t...
  • 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...
  • Administration Gives Conditional Approval for Shell to Drill in Arctic

    05/11/2015 1:18:36 PM PDT · by Theoria · 36 replies
    The New York Times ^ | 11 May 2015 | Coral Davenport
    The Obama administration gave conditional approval on Monday for Shell Gulf of Mexico, Inc. to start drilling for oil and gas in the Arctic Ocean this summer. The approval is a major victory for Shell and the rest of the petroleum industry, which has sought for years to drill in the remote waters of the Chukchi seas, which are believed to hold vast reserves of oil and gas. “We have taken a thoughtful approach to carefully considering potential exploration in the Chukchi Sea, recognizing the significant environmental, social and ecological resources in the region and establishing high standards for the...
  • Ben Carson: Let’s slash Big Oil to pay for ethanol

    05/10/2015 2:58:11 PM PDT · by 2ndDivisionVet · 75 replies
    Hot Air ^ | May 10, 2015 | Jazz Shaw
    Well this is certainly disappointing. With all of the newly emerging candidates running around the early primary and caucus states talking to anyone who will listen it gets difficult to keep track of them all. But there’s one bit of news out of Iowa from earlier this week which is definitely worth a quick rewind and a better look. Newly announced presidential contender Ben Carson was out talking to the Cornhuskers and the inevitable subjects of ethanol, the Renewable Fuel Standard (RFS) and subsidies for King Corn came up. The answer from the esteemed neurosurgeon was dismaying even compared to...
  • (Ron) Paul: No such thing as an independent Israel (Iran's State TV- Press TV Interview)

    08/26/2011 10:10:01 PM PDT · by mnehring · 165 replies
    Iran's Press TV ^ | 12/2008 | Jihan Hafiz
    Ron Paul, House representative of the 14th district of Texas, believes that US foreign policy must be reformed to avoid conflicts around the world. The interview was conducted outside the Foreign Relations Committee. Press TV: What is your opinion on the idea of the US blocking Iran's oil exports and preventing its gasoline imports from reaching the country (based on H. Con. Res. 362 previously sought by US congressmen)? Paul: I think it is an outrage I think it is a blockade. It is the use of force to stop the inflow of petroleum products and people and goods,...
  • Why Obama Will Just Keep Making the Middle East Worse

    05/06/2015 4:03:41 AM PDT · by SJackson · 11 replies
    FrontPage Magazine ^ | May 6, 2015 | Daniel Greenfield
    1]A few years ago it was the Muslim Brotherhood. These days it’s Iran. Next week it may be ISIS or Al Qaeda. Obama stands with the worst elements in the Middle East. That’s always been his philosophy. If the left had a foreign policy, it would be, “The squeaky wheel gets the grease.” But the wheel is a sword and it’s lubricated with blood. The squeakiest wheels and the bloodiest swords get the most grease from the State Department because they hate us the most. And hating us the most means that somewhere along the way we must have hurt...
  • Obama weighs offering Saudi Arabia weapons provided only to Israel

    05/05/2015 10:49:58 PM PDT · by Nachum · 17 replies
    washington times ^ | 5/5/15 | Guy Taylor
    The Obama administration is quietly pushing Sunni Arab allies in the Persian Gulf to create an advanced missile defense system, and is preparing to ramp up sophisticated weapons sales to Saudi Arabia in an effort to ease regional fears over a potential nuclear deal with Iran. With Secretary of State John F. Kerry set to visit Saudi Arabia Wednesday and Thursday, officials privately say the administration is weighing whether to offer Riyadh — already a major buyer of American and European weaponry — GBU-28 bunker buster bombs Washington has so far only been willing to provide to Israel. The discussions...
  • (D'Rat) Berkowitz headed to victory over Demboski in runoff race for (Anchorage) mayor

    05/06/2015 12:39:59 AM PDT · by balch3 · 10 replies
    Anchorage Daily News ^ | May 6, 2015 | Devin Kelly
    Ethan Berkowitz headed to victory with a big lead over opponent Amy Demboski in the Anchorage mayoral runoff election Tuesday night. With 93 percent of the vote counted, Berkowitz had nearly 60 percent of the vote to Demboski’s 41 percent, a margin that was insurmountable. Berkowitz had held a commanding lead over Demboski throughout the counting Tuesday night. As his margin over Demboski held strong, Berkowitz stood on a chair at his campaign party in a downtown restaurant to wild applause and waving signs. He asked his supporters’s to continue to help after the night’s celebration to work on unifying...
  • US businessmen lining up to do business with Iran

    05/04/2015 7:54:22 AM PDT · by SeekAndFind · 35 replies
    American Thinker ^ | 05/04/2015 | Rick Moran
    Capitalism is a wonderful thing - except when it isn't. Several US businessmen - oil execs for instance - are eagerly waiting for the day when "normalizing" relations with Iran would lead to exploiting the business opportunities offered by the mullahs. The Hill: Leaders from the United States’ oil industry are traveling to Iran this week to discuss potential investment opportunities, Iran’s government said. The delegation of oil company leaders and investors are visiting Iran in anticipation of sanctions being loosened against Tehran, Iran’s state-owned Mehr News Agency reported Monday. “It is forecast that by the visit of [the] American delegation...
  • OTC Commentary: Baker Hughes taps the Lower Tertiary

    05/04/2015 5:11:33 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | May 4, 2015 | Richard Dunham
    The Gulf of Mexico’s Paleogene play, also known as the Lower Tertiary, has been described as the scene of a 21st century “gold rush” for the energy industry. It also has been characterized as an innovation rush. Both are true. The Lower Tertiary is estimated to contain between 14 and 40 billion barrels of oil—worth as much as $2.4 trillion at $50-$60 per barrel. Compared with total recent U.S. reserve estimates of 29 billion barrels, the scale of this ultradeepwater frontier is tremendous. The size of the Lower Tertiary prize is huge, but so are its challenges: water depths of...
  • Heartache: Swarthmore College board fails to divest from fossil fuels

    05/03/2015 8:52:14 AM PDT · by rktman · 18 replies
    hotair.com ^ | 5/3/2015 | Jazz Shaw
    Not too long ago, the students – and more than a few of the faculty – at Swarthmore College decided that the time had come to take a stand against Big Oil, carbon or… something. Along those lines, they demanded that their school divest their endowment fund from any investments in fossil fuels. In order to make their point, they organized a sit in which lasted for the better part of a month. In the end, they declared victory when the faculty voted to support the students in this decision.
  • Kemp: Forward Oil Prices Anchor Around $75

    05/02/2015 5:28:53 AM PDT · by thackney · 6 replies
    Reuters via Rig Zone ^ | May 01, 2015 | John Kemp
    Market participants expect the price of Brent to average around $75 per barrel through the rest of the decade, not much above the current level. Spot Brent prices have risen around $20 per barrel from their mid-January low, from $46 to $66, an increase of more than 40 percent. Over the same period, however, futures prices for oil delivered at the end of 2017 have increased just $4.50 per barrel and remain semi-fixed a little over $70. As spot prices have risen, the slope of the forward curve has become flatter, ensuring prices for 2017 and beyond are almost unchanged...
  • Danger in the Heartland: Man-Made Quakes Mark New Hazard Map

    05/02/2015 12:38:19 PM PDT · by Citizen Zed · 13 replies
    weather.com ^ | 5-1-2015 | Zain Haidar
    There's a new hazard in the Heartland.  The U.S. Geological Survey (USGS) recently released a map highlighting the future risk for man-made earthquakes, and up to eight states have an increased chance to see ground shaking.  Azle, Texas, which had no recorded quakes for 150 years, felt 27 tremors from November 2013 to January 2014. The Dallas-Fort Worth Metroplex continues to feel regular earthquakes. As Science Magazine reports, earthquakes hit areas of Kansas bordering Oklahoma 192 times in the last two years; the same counties were only hit twice in the preceding 35 years.  For the most part, the scientific...
  • Venezuela Rations Electricity, Blames Climate Change

    04/30/2015 12:31:36 PM PDT · by george76 · 17 replies
    Breitbart News Network ^ | 29 Apr 2015 | Frances Martel
    Public employees will only have to work six hours a day until further notice, and police units will be sent to inspect private businesses to ensure they only use their allotted amounts. Venezuelan Vice President Jorge Arreaza blamed the measures on climate change. ... The Venezuelan government is responsible for providing electricity in the socialist nation, and concerns that power is running out in the OPEC nation have triggered alarm that power may be next on a list of basic scarcities in Venezuela that include milk, laundry detergent, and vegetable oil. ... Vice President Arreaza also made a bizarre call...
  • As U.S. cuts, Saudi oil-rig counts hit record highs

    05/01/2015 5:45:02 AM PDT · by thackney · 10 replies
    Market Watch ^ | May 1, 2015 | Myra P. Saefong
    Saudi Arabia has been making some big moves lately, most notably in its leadership reshuffle, but the country also has raised the number of rigs it has actively drilling for oil and natural gas by 30% since March 2014. James Williams, an energy economist at WTRG Economics, suggests that the Saudis are working toward increasing their oil-production CLM5, -0.65% LCOM5, -0.99% capacity to gain even more leverage over the oil market than they already have as the Organization of the Petroleum Exporting Countries’ so-called swing producer. The concept isn’t totally new, as some media reports also mention Saudi efforts to...
  • New maps highlight geologic characteristics of U.S. tight oil, shale plays

    04/17/2015 5:25:39 AM PDT · by thackney · 15 replies
    Energy Information Administration ^ | APRIL 17, 2015 | Energy Information Administration
    EIA is currently in the process of updating maps of major tight oil and shale gas plays, including the Eagle Ford and Marcellus plays, which will help to better characterize the geology of key areas of production in the United States. EIA's most recent maps focus on shale and tight oil plays, and characterize plays based on geologic characteristics, including rock type and age. Understanding geologic history and processes helps exploration and production companies reduce the risk of drilling dry, nonproducing wells and better understand hydrocarbon resource potentials. Production of crude oil and natural gas occurs in two classes of...
  • Low Oil Prices Could Destabilize Financial System

    04/30/2015 12:06:48 PM PDT · by Opintel · 12 replies
    Oilprice.com ^ | 30-04-2015 | Mark Rutte
    Could the rising levels of debt in the oil industry contribute to destabilization in the financial system? The collapse in oil prices has forced drillers to turn to debt markets to keep their operations going. According to the Wall Street Journal, there has been $86.8 billion in new debt issued so far in 2015, a 10 percent increase over last year. But that trend is not necessarily new. The oil industry has relied on debt for quite some time, but the dramatic fall in oil prices has put a bright spotlight on the practice. The Bank for International Settlements concluded...
  • Easier to find oil ( Abiogenic ? )

    09/11/2009 11:46:37 AM PDT · by Halfmanhalfamazing · 54 replies · 1,623+ views
    KTH Royal Institute of Technology ^ | September 9th | Peter Larsson
    Researchers at KTH have been able to prove that the fossils of animals and plants are not necessary to generate raw oil and natural gas. This result is extremely radical as it means that it will be much easier to find these energy sources and that they may be located all over the world. “With the help of our research we even know where oil could be found in Sweden!” says Vladimir Kutcherov, Professor at the KTH Department of Energy Technology in Stockholm. Together with two research colleagues, Professor Kutcherov has simulated the process of pressure and heat that occurs...
  • Tesla Could Be Changing The Dynamics Of Global Energy

    04/28/2015 10:13:13 AM PDT · by bananaman22 · 43 replies
    Oilprice.com ^ | 28-04-2015 | Prince In White Tesla
    Tesla’s announcement last week about creating a new line of batteries for use by businesses, consumers, and the electrical grid at large is a game-changer for the industry. Currently, when individuals or companies need back-up power, they usually rely on generators. Effective battery storage for large amounts of energy would be a game changer in that it would enable a separation of generation and use of energy produced through clean fuels like solar and wind power. The big problem with solar and wind right now is that the energy is only useful when it is actually produced and, because a...
  • Europe is eyeing Iran's massive gas reserves

    04/27/2015 5:57:51 AM PDT · by McGruff · 4 replies
    BUSINESS INSIDER ^ | 4/27/2015 | TARA SHIRVANI
    The annexation of Crimea and the consequent threats of gas supply cuts by Russia have been a reminder of an inconvenient truth: when it comes to politics, Europe will always be influenced by its dependency on Russian gas. According to the European Parliament, in 2013 Russia provided 43.2% of the European Union’s gas imports, 31.38% of its oil imports, and 26.7% of its coal imports. But the dependency runs both ways.
  • UK Govt To Oppose Any Moves On BP

    04/27/2015 1:36:10 PM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | 27-04-2015 | Banana
    The U.K. government wants BP to still stand for “British Petroleum.” The Financial Times reported that Downing Street would do all it could to block a takeover of BP. Weakened and shrunken down due to the massive, and still rising, toll stemming from the Deepwater Horizon disaster, BP could become a takeover target from one of the larger oil majors out there. Rumors have been swirling in recent weeks that perhaps ExxonMobil or Chevron could be eyeing the British oil giant, so much so that BP’s CEO Bob Dudley had to publicly dispel any notion that his company is for...
  • Audi just created diesel fuel from air and water

    04/27/2015 11:16:12 AM PDT · by Hostage · 101 replies
    Gizmag ^ | April 26, 2015 | Eric Mack
    Audi is making a new fuel for internal combustion engines that has the potential to make a big dent when it comes to climate change – that's because the synthetic diesel is made from just water and carbon dioxide. The company's pilot plant, which is operated by German startup Sunfire in Dresden, produced its first batches of the "e-diesel" this month. German Federal Minister of Education and Research Johanna Wanka put a few liters of the fuel in her work car, an Audi A8, to commemorate the accomplishment. The base fuel is referred to as "blue crude," and begins by...
  • Kerry: Arctic climate change goals more important than containing Russia

    04/26/2015 10:02:55 PM PDT · by Cincinatus' Wife · 20 replies
    The American Thinker ^ | April 26, 2015 | Rick Moran
    US Secretary of State John Kerry assumed the chairmanship of the Arctic Council, and immediately made it clear that despite worrisome Russian military moves in the Arctic, the US would not challenge them. Washington Examiner: >>>>In assuming the leadership role, Kerry laid out a robust agenda to face the threat of climate change in the Arctic, which he says is being affected by global warming more than anywhere else in the world. But when faced with questions over whether the U.S. will use its new leadership position to address threats posed by Russia, Kerry said no. Kerry said the idea...
  • An Earth Day call to ban fracking across this land

    04/22/2015 10:54:03 PM PDT · by 2ndDivisionVet · 17 replies
    The New York Daily News ^ | April 22, 2015 | Mark Ruffalo, actor and director
    Just say no, Obama. Flaming water, poisoned air and destroyed lives — that’s what I found when I traveled to Dimock, Pa., in 2009 to see the impacts of fracking firsthand. Six years later, this tragic story is one shared by countless Americans, too many of them with no choice in the matter. Ten years after the Bush-Cheney administration exempted fracking from key parts of some of our nation’s most important environmental and public health laws, including the Safe Drinking Water Act, Clean Water Act and Clean Air Act, the science is finally catching up to the process — and...
  • Epic Fail: Seven Big Failed Environmentalist Predictions

    04/25/2015 12:52:22 PM PDT · by SeekAndFind · 39 replies
    The Federalist ^ | 04/24/2015 | Robert Tracinski
    I recently discussed what it would take to prove that global warming is actually occurring, that it is caused by humans, and that it will be catastrophic. But that’s not the full picture. To understand why so many of us are so skeptical about global warming, you have to understand the environmentalists’ larger track record: a long series of failed predictions and bogus prognostications of doom. It has been 45 years now since the first Earth Day. You would think that in this time frame, given the urgency with which we were told we had to confront the supposed...
  • 5 years after BP spill: What's changed in offshore drilling

    04/20/2015 12:53:05 PM PDT · by Citizen Zed · 3 replies
    eaglefordtexas.com ^ | 4-20-2015 | Cain Burdeau | The Associated Press
    NEW ORLEANS — As oil gushed from BP’s ruptured well five years ago and public outrage built by the day, the Obama administration issued a six-month moratorium on drilling in the Gulf of Mexico. When the well was finally capped after nearly three months, political and industry pressure mounted on the White House to lift the ban, which it did about a month earlier than planned. Since then, oil and gas drilling Gulf has bounced back strongly and the number of deep-water drilling rigs has actually increased from 35 to about 48. Drillers are pushing into even deeper water and...
  • Looking Back: The Doomsayers Were Wrong about the BP Oil Spill; Mother Nature Heals Itself

    04/23/2015 7:08:29 AM PDT · by SeekAndFind · 24 replies
    National Review ^ | 04/23/2015 | by STEPHEN MOORE & JOEL GRIFFITH Read more at: http://www.nationalreview.com/article/417345/doomsay
    Five years ago this week, a blowout of BPÂ’s Deepwater Horizon oil rig 40 miles from the Gulf Coast tragically claimed eleven lives and spilled 3 million barrels of oil from the damaged wellhead into the Gulf. ItÂ’s hard to forget the video images of thick oil gushing, day after day, into the regionÂ’s waters. It was a horrific accident that caused substantial damage to the ecology and commerce of the region. Gulf-area wildlife, portions of the shoreline, tourism, fishers and shrimpers, and energy-sector workers suffered large losses in the aftermath of the spill. BP has paid close to $27...
  • Ex-BP Chief Sees Oil Bull Market Sooner than Many Expect

    04/22/2015 8:17:45 AM PDT · by thackney · 2 replies
    Reuters via Rig Zone ^ | April 22, 2015 | Dmitry Zhdannikov and Silvia Antonioli
    Low crude prices will trigger consolidation in the oil industry but a new bull market might arrive much sooner than expected given the huge scale of capital and workforce withdrawal in the sector, a former boss of oil major BP said. "The actions the industry is taking to withdraw capital are laying the seeds for the next bull market," Tony Hayward told the FT Commodities Summit. "The peak of U.S. shale supply has arrived – earlier than anticipated ... The supply chain in the U.S. has been decimated ... It will take several years to take activity back," Hayward said....
  • Big Hit For U.S. Oil Production In January

    04/24/2015 5:51:32 AM PDT · by thackney · 11 replies
    Oil Price ^ | 23 April 2015 | Arthur Berman
    U.S. crude oil production fell at least 135,000 barrels of oil per day in January 2015 compared to December 2014 according to the EIA (Figure 1). Bakken Shale production fell the most of any play or jurisdiction losing 37,000 barrels per day in North Dakota and 4,000 barrels per day in Montana for a total of 41,000 barrels of oil per day (Figure 2). Production in California, the offshore Gulf of Mexico, Alaska and Wyoming also declined significantly. Figure 3 shows Bakken production based on DrillingInfo data. The 42,000 barrels of oil per day drop in January production is completely...
  • Oil Prices Won’t Recover Anytime Soon Says Exxon CEO

    04/22/2015 2:17:16 PM PDT · by Opintel · 18 replies
    Oilprice.com ^ | 22-04-2015 | Willem van Oranje
    There is mounting evidence that oil prices are poised to rebound from a historic bust. Rig counts hit new lows each week. For the week ending on April 17, Baker Hughes says the U.S. lost an additional 34 oil and gas rigs, bringing the total down to 954. Domestic crude oil production appears to have plateaued and the EIA expects a contraction in May. Nearly every driller is dramatically scaling back spending, which should increasingly cut into new output. And oil consumption is finally picking up, as drivers far and wide take advantage of cheap fuel. But what if the...
  • CERAWeek: Oil chiefs explain why U.S. shale boom hasn’t gone global

    04/22/2015 4:37:25 AM PDT · by thackney · 3 replies
    Fuel Fix ^ | April 22, 2015 | Collin Eaton
    Has billionaire oil man Harold Hamm ever been tempted to take the U.S. shale revolution abroad and expand his oil empire from North Dakota to the rest of the world? “I have not,” Hamm told a gathering of energy executives Tuesday. The question had come from Daniel Yergin, vice chairman of IHS. Hamm, CEO of Continental Resources, one of the biggest oil producers in the Bakken Shale, was one of three oil-company chief executives speaking from the stage during a panel at the IHS CERAWeek energy conference at the Hilton Americas-Houston. So why haven’t U.S. shale producers tried to tap...
  • Anti-local fracking control bill advances in Texas

    04/21/2015 5:05:57 AM PDT · by thackney · 44 replies
    Platts ^ | 20 Apr 2015 | Platts
    A bill being debated in the Texas Legislature that would severely limit local municipalities' power to regulate oil and natural gas drilling moved one step closer to becoming law Monday. In a 125-20 vote, the Republican-dominated Texas House of Representatives approved on third reading H.B. 40. The legislation would "expressly pre-empt local ordinances that ban or limit oil and gas operations," including hydraulic fracturing. The bill will now move to the state Senate, which, like the House, is Republican-controlled. If passed by both houses of the legislature it will move to the desk of Republican Governor Greg Abbott, who has...
  • Bill to Standardize Drillings Setbacks Passes Texas House

    04/20/2015 9:45:18 AM PDT · by thackney · 2 replies
    Rig Zone ^ | April 17, 2015 | Deon Daugherty|
    Legislation to set standards for cities that wish to regulate the oil and gas drilling within their city limits passed the Texas House Friday with more than two-thirds approval. House Bill 40 heads to the Texas Senate Monday, where, if it can sustain the momentum that’s carried it this far, could soon become law. And that’s got some special interests groups in a tizzy. “If some Austin lawmakers are successful, oil and gas drilling could be coming to a school, playground of daycare center near you,” wrote Luke Metzger, director of Environment Texas in an opinion piece published in the...