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Keyword: oilindustry

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  • Shale oil output at Bakken and Eagle Ford starts a descent

    05/12/2015 4:37:48 AM PDT · by thackney · 31 replies
    Market Watch ^ | May 11, 2015 | Myra P. Saefong
    Oil production from the Bakken and Eagle Ford shale plays look like they’ve peaked and other shale plays may not be far behind. Oil production from seven major U.S. shale plays is expected to fall by a total of 86,000 barrels a day in June, according to a monthly report from the Energy Information Administration released Monday. The previous report released a month ago also showed a forecast for a fall of 57,000 barrels a day in May. Oil output at the Eagle Ford shale play in South Texas is forecast to see the biggest decline, down 47,000 barrels a...
  • American Eagle Energy Becomes Fourth U.S. Bankruptcy Of The Oil Bust

    05/12/2015 4:46:11 AM PDT · by thackney · 16 replies
    Forbes ^ | 5/11/2015
    American Eagle Energy became the fourth U.S. energy producer to file for bankruptcy protection in the aftermath of the big drop in crude oil prices. The Colorado-based company that buys and develops oil wells in the Bakken oil fields of North Dakota and Montana filed for chapter 11 bankruptcy protection on Monday in Denver’s bankruptcy court. American Eagle Energy, which recently missed an interest payment on its debt, listed assets of $222 million and liabilities of $215 million. Shares of American Eagle Energy traded for as much as $7.05 less than a year ago, reflecting the stunningly fast collapse of...
  • 12 Signs That The Economy Is Really Starting To Bleed Oil Patch Jobs

    01/21/2015 7:17:17 PM PST · by Kartographer · 31 replies
    theeconomiccollapseblog. ^ | 1/20/15 | Michael Snyder
    #1 It is being projected that the U.S. oil rig count will decline by 15 percent in the first quarter of 2015 alone. And when there are less rigs operating, less workers are needed so people get fired. #2 Last week, 55 more oil rigs shut down. That was the largest single week decline in the United States in 24 years. #3 Oilfield services provider Baker Hughes has announced that it plans to lay off 7,000 workers. #4 Schlumberger, a big player in the energy industry, has announced plans to get rid of 9,000 workers. #5 Suncor Energy is eliminating...
  • Does 1979 newspaper column shed light on 2008 campaign story? (Obama funding)

    09/23/2012 3:07:39 PM PDT · by CutePuppy · 38 replies
    Daily Inter Lake ^ | Septwmber 22, 2012 | Frank Miele
    Searching old newspapers is one of my favorite pastimes, and I have tried to use them many times to shed light on current events - or to inform readers about how the past is prologue to our very interesting present-day quandaries. Recently, I came across a syndicated column from November 1979 that seemed to point 30 years into the future toward an obscure campaign issue that arose briefly in the 2008 presidential campaign. Though by no means definitive, it provides an interesting insight, at least, into how Chicago politics intersected with the black power movement and Middle Eastern money at...
  • US To Tap Strategic Petroleum Reserve

    03/13/2014 11:20:50 AM PDT · by Cletus.D.Yokel · 96 replies
    The Obama administration will release 5 million barrels of sour crude from the United States’ emergency stockpile in what officials described as a “test” of the nation’s ability to respond to oil supply disruptions around the globe.
  • U.S. Passes Saudis In Oil Output, No Thanks To White House

    04/08/2013 7:04:18 PM PDT · by 2ndDivisionVet · 17 replies
    Investor's Business Daily ^ | April 5, 2013 | Kathleen Harnett White
    In spite of the Obama Administration's hostility to carbon-rich energy, private actors with private capital deployed on private (and state) land have launched a game-changing revolution in domestic oil and natural gas production. A scarcely reported milestone conveys the magnitude of this turnaround in the global energy landscape. The U.S. passed Saudi Arabia as the world's largest petroleum producer in November 2012, according to recently released data of the federal Energy Information Administration. Over the last five years, domestic oil output has risen 40% and continually outpaces projections. Last year, domestic output increased by 800,000 barrels per day. This is...
  • What are the top five facts everyone should know about oil exploration? (from

    04/03/2013 12:30:25 AM PDT · by AZLiberty · 2 replies ^ | March 31, 2013 | Ryan Carlyle
    My top 5 oil industry facts: 1) Oil is important. Shockingly, sometimes horrifically important. The world economy has been developing with oil as its lifeblood for over a hundred years. Oil is directly responsible for about 2.5% of world GDP [1], but accounts for 1/3rd of humanity's primary energy supply (>5 terawatts out of 15 terawatts total) [2]. It's over half if you include natural gas. World Energy Consumption by Source, in Terawatts World energy consumption Oil/gas powers 100% of all transportation, within a few significant figures of rounding error. Transportation, in turn, directly accounted for 1/6th of world GDP...
  • Can Mexico's New President Achieve Energy Reform?

    08/18/2012 11:43:49 AM PDT · by JerseyanExile · 1 replies
    The Energy Collective ^ | August 16, 2012 | Isidro Morales
    Most probably, on December 1st, Mr. Enrique Peńa Nieto (EPN), the presidential candidate of PRI party, will become the new Mexican president for a six year term. The PRI was the dominant political party in Mexico from 1929 to 2000 although with different names. The resurgence of the PRI comes after a 12 year interregnum of the PAN, a center-right party whose merit was to evict the “hegemonic” PRI from Los Pinos, Mexico’s presidential house. The question on everyone’s minds is: Will the return of the PRI spell a reversal of energy policies pursued by PAN during the past 12...
  • Dems propose 'Reasonable Profits Board' to regulate oil company profits

    03/01/2012 3:39:35 PM PST · by ColdOne · 74 replies · 5+ views
    The Hill ^ | 3/1/12 | Pete Kasperowicz
    Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a "Reasonable Profits Board" to control gas profits. The Democrats, worried about higher gas prices, want to set up a board that would apply a "windfall profit tax" as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit. The Gas Price Spike Act, H.R. 3784, would apply a windfall tax on the sale of oil and gas that ranges from 50 percent to 100...
  • The left is at it again, demonizing business for fun and profit

    05/03/2011 7:04:48 AM PDT · by James H. Shott · 3 replies
    Liberty Ledger ^ | May 3, 2011 | James H. Shott
    With the current brouhaha over the national debt and projected trillion dollar budget deficits, one side wants to cut spending to solve the problem, the other wants to raise taxes on the wealthy and on businesses. The tax raisers talk about cutting spending, and make a token effort to cut a little bit, but mostly they’re just talking. They don’t do spending cuts; they only want to raise taxes. Like many liberal solutions this one sounds good in the abstract. After all, when you want money, where better to get it than from those that have it? The notorious bank...
  • Will oil industry become an endangered species in West Texas? (Meet the Dunes Sagebrush Lizard)

    04/27/2011 10:20:47 AM PDT · by SeekAndFind · 8 replies
    Hotair ^ | 04/27/2011 | Ed Morrissey
    It might, if the US Fish and Wildlife Service puts the Dunes Sagebrush Lizard on the endangered-species list. USFWS has an open period for public comment at the moment on the proposal, which if adopted could force oil companies in West Texas and New Mexico to close up shop. The industry argues that USFWS is relying on bad data and faulty methodology: A three-inch lizard that thrives in desert conditions could shut down oil and gas operations in portions of Southeast New Mexico and in West Texas, including the state’s top two oil producing counties.Called the Dunes Sagebrush Lizard, it...
  • Pretending to boost drilling

    03/26/2011 2:47:47 AM PDT · by Scanian · 2 replies
    NY Post ^ | March 25, 2011 | Michelle Malkin
    While President Obama promotes offshore drilling in Brazil, Interior Secretary Ken Salazar now promises to revitalize America's oil and gas industry. It's like Jack "Dr. Death" Kevorkian promoting himself as a lifesaving CPR specialist. This week, Salazar announced that the administration has just approved the first deepwater-oil- and gas-exploration plan since last spring's BP/Deepwater Horizon oil spill. Mind you: This is not a granting of permits, but a green light for Shell Offshore to seek drilling permits for three new exploratory wells off the Louisiana coast. Shell first submitted and received approval for its original exploration plan in 1985. Salazar's...
  • Automakers try to stop increase in ethanol limit to 15 percent of gasoline

    10/12/2010 10:35:43 AM PDT · by Kaslin · 47 replies ^ | October 11, 2010 | Neil Roland
    Today's gasolines include up to 10 percent ethanol. Automakers are opposing a move to boost the ethanol content to 15 percent. Automakers are seeking to head off an EPA ruling that would allow gasoline to contain 15 percent ethanol, up from 10 percent now, and they've won some bipartisan congressional support. The two main automaker industry lobbies have argued that the U.S. Department of Energy has done insufficient testing to assure that gasoline containing up to 15 percent ethanol won't harm vehicles. Increased ethanol composition could affect engine durability, emissions, driveability and on-board diagnostics systems, the Association of International Automobile...
  • Feds: Pipe bomb targeted wife of Houston oil executive

    07/13/2010 3:03:52 PM PDT · by a fool in paradise · 12 replies
    Houston Chronicle ^ | July 13, 2010, 4:12PM | MOISES MENDOZA
    Authorities confirmed today that a pipe bomb sent to the home of a local oil executive was meant for his wife and not the executive. Vennie Wolf, 58, was injured Friday evening when she opened a shoebox-sized package that shot out shrapnel and nails. As they continued to chase down leads, officials today said they believed the incident in northwest Houston was an isolated one. But they refused to discuss the investigation’s progress or why Wolf may have been targeted by the bomb. "It’s an ongoing investigation," said Rob Elder, assistant special agent in charge at the Houston office of...
  • Nearly 60% Disapprove of Obama's Handling of Gulf Oil Spill

    06/04/2010 7:23:02 AM PDT · by Welshman007 · 18 replies · 321+ views
    Conservative Examiner ^ | 6/4/2010 | Anthony G. Martin
    In a poll released yesterday and reported Thursday evening on the Fox News' Bill O'Reilly program, 59% of Americans now disapprove of Obama's handling of the Gulf oil spill. The results of the poll were reported in a segment with radio commentator Laura Ingraham. Video Here. As Obama and the Administration come under increasing fire for their lackadaisical approach to the mounting problems created by the spill, which is moving closer to large stretches of beaches along the Gulf shoreline, the mainstream media has generally failed to report the widespread public dissatisfaction with Obama. Instead, the media has chosen to...
  • Chris Matthews: Hey, maybe Obama should nationalize the oil industry (Venezuela here we come)

    05/18/2010 9:41:06 AM PDT · by SeekAndFind · 43 replies · 1,048+ views
    Hotair ^ | 05/18/2010 | Allahpundit
    Why he’d have to nationalize the entire industry to deal with the BP leak is unclear to me, but all men have their fantasies, my friends. Doubtless most of our male readers were thinking about Miss USA for much of the afternoon; Tingles, bless his heart, was thinking about this. We should get him and Woody Allen together, see where the discussion leads. That’d be a “Hardball” for the ages, wouldn’t it?I think The One’s more of a commission kind of guy than an “emergency seizure” kind of guy. Which is fortunate, because from what I can tell, Matthews’s idea...
  • Chortling At Chu

    03/12/2010 5:07:46 PM PST · by Kaslin · 18 replies · 957+ views ^ | March 12, 2010 | INVESTORS BUSINESS DAILY Staff
    Future Fuels: Our secretary of energy pushes bio-refineries and windmills to oil executives at an energy conference as the administration announces a three-year offshore drilling ban. This is a policy for economic suicide. They don't qualify as an official group of victims, but carbon-Americans, as they have been called, did not have much to cheer about last week, when Energy Secretary Steven Chu addressed CERAWeek 2010, a premier industry conference hosted by IHS Cambridge Energy Research Associates. With an economy struggling to regain sound footing, Chu advocated a starvation diet devoid of additional fossil fuels that are to remain under...
  • Drilling Ban To Cost Trillions

    02/16/2010 4:16:12 PM PST · by Kaslin · 21 replies · 1,321+ views ^ | February 16, 2010 | INVESTORS BUSINESS DAILY Staff
    Energy: A new study shows that our reluctance to develop domestic energy will cost the beleaguered U.S. economy trillions in opportunity costs, reduce our gross domestic product and increase our trade deficit. From trying to stimulate jobs in nonexistent ZIP codes at great expense to worshiping the false gods of climate change, our biggest deficit these days may be in the area of common sense. A new study shows that many of our wounds are self-inflicted as we forgo the wealth and jobs to be found in our waters and under our feet. The study by Science Applications International Corp....
  • Government workers in oil industry sex and drug scandal(to be used against drilling legislation)

    09/11/2008 8:16:19 AM PDT · by TigerLikesRooster · 17 replies · 146+ views
    Reuters ^ | 09/11/08 | Tom Doggett
    Government workers in oil industry sex and drug scandal Thu Sep 11, 2008 9:19am EDT By Tom Doggett WASHINGTON (Reuters) - U.S. Interior Department employees who oversaw oil drilling on federal lands had sex and used illegal drugs with workers at energy companies where they were conducting official business, an internal government report said on Wednesday. Employees at the department's Minerals Management Service "socialized with, and received a wide array of gifts and gratuities from, oil and gas companies," according to the department's inspector general, Earl Devaney. "When confronted by our investigators, none of the employees involved displayed remorse," Devaney...
  • Industry Gushed Money After Reversal on Drilling

    07/27/2008 8:04:53 AM PDT · by seanrobins · 7 replies · 559+ views
    Washington Post ^ | July 27, 2008 | Matthew Mosk
    Campaign contributions from oil industry executives to Sen. John McCain rose dramatically in the last half of June, after the senator from Arizona made a high-profile split with environmentalists and reversed his opposition to the federal ban on offshore drilling. Oil and gas industry executives and employees donated $1.1 million to McCain last month -- three-quarters of which came after his June 16 speech calling for an end to the ban -- compared with $116,000 in March, $283,000 in April and $208,000 in May.
  • Just 47% Oppose Nationalizing Oil Industry

    06/17/2008 5:48:32 AM PDT · by rightwingintelligentsia · 97 replies · 323+ views
    Rasmussen Reports ^ | June 17, 2008
    A Rasmussen Reports national telephone survey found that 29% of voters favor nationalizing the oil industry. Just 47% are opposed and 24% are not sure. The survey found that a plurality of Democrats (37%) believe the oil industry should be nationalized. Just 32% of voters in Barack Obama’s party disagree with that approach. Republicans oppose nationalizing the oil industry by a 66% to 16% margin. Unaffiliated voters are opposed by a 47% to 33% margin. Nationalization is the process by which the government assumes complete control of a private industry and its assets. It has been a common practice in...
  • Rising oil prices are on a slippery slope to disaster

    06/13/2008 7:11:09 AM PDT · by TigerLikesRooster · 92 replies · 2,410+ views
    Times of London ^ | 06/13/08 | Carl Mortished
    June 13, 2008 Rising oil prices are on a slippery slope to disaster Carl Mortished, World Business Editor When hauliers blocked the streets of London, Gordon Brown flew to Aberdeen to talk to Britain's oil bosses. Less than a month later, tanker drivers are threatening further chaos and the Prime Minister wants to fly to Saudi Arabia to talk to Opec. The pow-wow in Jedda on Sunday between oil-producing and consuming nations will not produce cheap diesel but Mr Brown knows he must be seen to do something - the oil price has almost tripled in two years and expensive...
  • Rebels Cut Indian Northeast Frontier Pipeline

    08/07/2005 7:18:40 AM PDT · by Our_Man_In_Gough_Island · 13 replies · 446+ views
    BBC ^ | 7 Aigust 2005 | Staff
    An explosion has badly damaged an oil pipeline in the north-east Indian state of Assam, police say. Police said they suspect the involvement of the separatist rebel group, the United Liberation Front of Assam (Ulfa). They said the blast, which took place on Saturday night, set off a huge fire in Assam's northern Shibsagar district. The damage to the pipeline forced the authorities to suspend oil supplies to two oil refineries in the state. It took several hours to control the fire. "There was a big fire immediately after the blast and several houses nearby caught fire," Reuters quotes a...
  • Earthquake: Coincidence or a Corporate Oil Tragedy? (Barf for the Unbelievable)

    12/29/2004 4:59:47 AM PST · by shrinkermd · 75 replies · 2,108+ views
    Independent Media TV ^ | 29 December 2004 | Andrew Limburg
    Now I don’t claim to be an expert on seismic activity, but there has been a series of events which led up to the 9.0 earthquake of the coast of Indonesia which can not be ignored. This all could be an enormous coincidence, but one must look at the information and choose for themselves whether there is anything to it. On November 28th, one month ago, Reuters reported that during a 3 day span 169 whales and dolphins beached themselves in Tasmania, an island of the southern coast of mainland Australia and in New Zealand. The cause for these beachings...

    07/17/2003 11:20:52 PM PDT · by FreedomInJesus · 165 replies · 899+ views
    MEDIA ADVISORY CHENEY ENERGY TASK FORCE DOCUMENTS FEATURE MAP OF IRAQI OILFIELDS Commerce & State Department Reports to Task Force Detail Oilfield & Gas Projects, Contracts & Exploration Saudi Arabian & UAE Oil Facilities Profiled As Well   (Washington, DC) Judicial Watch, the public interest group that investigates and prosecutes government corruption and abuse, said today that documents turned over by the Commerce Department, under court order as a result of Judicial Watch?s Freedom of Information Act (FOIA) lawsuit concerning the activities of the Cheney Energy Task Force, contain a map of Iraqi oilfields, pipelines, refineries and terminals, as well...
  • Kevin Costner's Texas firm touts oil spill cleaner

    05/06/2003 2:22:06 AM PDT · by weegee · 1,015+ views
    Houston Chronicle ^ | May 5, 2003, 11:10PM | By DAVID KAPLAN
    The Offshore Technology Conference at Reliant Center is an endless maze of booths with thousands of companies and subsidiaries represented. Each booth vies for the attention of passers-by with giveaways like pens and candy. But Booth No. 2269 offered Kevin Costner, and it was mobbed. Women froze in their tracks. "Oh, my God. That is Tin Cup," one said. Costner's appearance was not some company stunt. He is the company -- the driving force behind Costner Industries Texas, whose product, the liquid-liquid centrifugal separator, separates oil from water and was designed to clean up major oil spills. Costner, who said...