Keyword: opec
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Sudan war mirrors region's oil conflicts Khartoum, Sudan Apr 18, 2012 The brewing war between Sudan and the fledgling state of South Sudan is a battle for oil and there are other potential conflicts in the Middle East and Africa that could signal supply disruption whatever happens in the U.S.-Iran face-off in the Persian Gulf. Libya, one of North Africa's main producers, seems to heading for a new civil war only six months after Moammar Gadhafi's regime was overthrown with rival militias struggling for control of the country's oil riches. But, more importantly, there's a growing power struggle in Iraq,...
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The Obama administration was subpoenaed Tuesday for documents that congressional investigators hope would shed light on how a government report was edited to indicate experts endorsed a moratorium on oil drilling in the Gulf following the Deepwater Horizon tragedy. Interior Department officials have refused to comply with repeated requests from the House Resources Committee to provide documents that lawmakers say would show if political appointees at the agency or White House were involved in the editing decision and whether it was intentional.
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The most recent vote produced a veto-proof majority in the House in favor of approval for the Keystone XL pipeline, and Byron York writes that the opposition in the Senate might be weakening as well. That’s not the only wave of disapproval coming from his fellow Democrats these days, either. The Hill reports that recent remarks by Barney Frank on ObamaCare has opened the floodgates of criticism … just as constituents start paying attention to the upcoming election: An increasing number of Democrats are taking potshots at President Obama’s healthcare law ahead of a Supreme Court decision that could overturn...
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Barack Obama's latest scheme to make it appear that he's doing something -- anything -- about the spike in gasoline prices is actually more of a re-election crisis-control effort. He plans to spend $52 million to further regulate a tightly controlled market and punish "speculators" whom he blames for running up the price at the pump. Naturally, oil futures prices jumped at the news. Those new regulations on the oil market come while Obama is tightening the screws in other ways as well. Witness the Friday document dump of an Executive Order that creates a task force to coordinate federal...
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GARY SHILLING: Here's Why The US Is About To Plunge Into A New Recession Simone Foxman April 20, 2012, 3:48 PM Last week, Gary Shilling wrote a four-part series for Bloomberg View on why the U.S. economy is on the fast track to a brand new recession this year. While he pointed to various data points and recounted a number of anecdotes to prove his point, Shilling's argument was simple: the consumer strength we saw earlier this year was fleeting and highly accommodative policy from the Federal Reserve and the possibility of more quantitative easing are the only things propping...
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Republicans have held two important votes on the Keystone XL pipeline this year, forcing Barack Obama and Democrats to take positions opposed to its construction. As the elections approach and gas prices keep rising, though, fewer Democrats seem ready to go on record to back Obama. The most recent vote produced a veto-proof majority in the House in favor of approval for the Keystone XL pipeline, and Byron York writes that the opposition in the Senate might be weakening as well: When the House voted on the pipeline in July of last year, 47 Democrats broke with the president. Now...
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For the first time since President Obama issued a controversial order halting its progress, the proposed Keystone XL Pipeline is once again on track for bureaucratic review after TransCanada submitted a new route through Nebraska designed to avoid environmentally sensitive areas. The new plan, which TransCanada submitted to the Nebraska Department of Environmental Quality on Wednesday, takes the Keystone project out of the deep freeze that began in January when Obama agreed with the recommendation of the State Department to reject the initial pipeline application. This new development, first reported by Fox News, allows Nebraska officials to review the impact...
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President Obama's call to rein in oil market speculation comes just as those very market forces appear to be accomplishing his real goal of lowering gasoline prices in the middle of an election campaign. The president announced Tuesday that he wants Congress to crack down on oil market speculators whom he argues have helped drive up the price of crude oil and gasoline. ,,,,, House Speaker John Boehner, R-Ohio, denounced the plan as unnecessary, saying the White House already has the tools available to crack down on any possible oil price manipulation. "Where is his Federal Trade Commission? Where is...
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Because efforts to promote safe, responsible, and efficient development of unconventional domestic natural gas resources are underway at a number of executive departments and agencies (agencies), close interagency coordination is important for effective implementation of these programs and activities. To formalize and promote ongoing interagency coordination, this order establishes a high-level, interagency working group that will facilitate coordinated Administration policy efforts to support safe and responsible unconventional domestic natural gas development.
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Gas prices will be key issue in fall campaign so join us Friday 'live' from the Bakken formation in ND on energy policy in America.
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Full Size http://xkcd.com/1040/large/
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Steven Sterin thinks he has a better way. As president of the advanced fuels division at Dallas-based chemicals company Celanese, he’s supervising construction of two new plants—one in Texas, the other in China—to make ethanol. But you won’t see any vats fermenting corn here. Celanese makes its ethanol by tearing apart and recombining the hydrocarbons found in plentiful natural gas or coal. ..... The problem isn’t science. It’s Washington. Thanks to the 2007 Renewable Fuel Standard law, gasoline refiners are mandated to blend so much plant-based or renewable ethanol into the gas supply that it prevents Celanese or any other...
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A $9 billion Obama administration grant program for renewable energy projects has created tens of thousands of jobs, an Energy Department report out Friday concludes. The report comes just one week after Speaker John Boehner slammed Energy Secretary Steven Chu over the claim and challenged him to provide proof of the jobs creation. The report — conducted by DOE’s National Renewable Energy Laboratory — concludes that the program supported 52,000 to 75,000 construction and installation jobs on average over the three years it was in effect. Between 43,000 to 66,000 of those were indirect jobs in the supply chain (for...
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Iran is helping its ally Syria defy Western sanctions by providing a vessel to ship Syrian oil to a state-run company in China, potentially giving the government of President Bashar al-Assad a financial boost worth an estimated $80 million. Iran, itself a target of Western sanctions, is among Syria's closest allies and has promised to do all it can to support Assad, recently praising his handling of the year-long uprising against Assad in which thousands have been killed. China has also shielded Assad from foreign intervention, vetoing two Western-backed resolutions at the United Nations over the bloodshed, and is not...
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"I will closely monitor this situation to assure that the market can continue to accommodate a reduction in purchases of petroleum and petroleum products from Iran," he said in a statement.
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New rules to cut carbon dioxide emissions will make it nearly impossible to build new coal power plants The Obama administration effectively blocked the construction of any new coal-fired power plants on Tuesday, introducing rules to cut carbon dioxide emissions from the next generation of plants. The proposed new standards would cut carbon dioxide emissions on new power plants in half and will, over time, help move America away from the carbon-heavy plants that currently produce nearly half of the country's electricity, Lisa Jackson, the head of the environmental protection agency, told a conference call with reporters. "Right now there...
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Yesterday the Obama administration announced a delaying tactic which will put off the possibility of new offshore oil drilling on the Atlantic coast for at least five years: The announcement by the Interior Department sets into motion what will be at least a five year environmental survey to determine whether and where oil production might occur.
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1,306,375,000,000 gallons of oil used per year worldwide A partial list of products made from Petroleum (144 of 6000 items) One 42-gallon barrel of oil creates 19.4 gallons of gasoline. The rest (over half) is used to make things like: Solvents Diesel fuel Motor Oil Bearing Grease Ink Floor Wax Ballpoint Pens Football Cleats Upholstery Sweaters Boats Insecticides Bicycle Tires Sports Car Bodies Nail Polish Fishing lures Dresses Tires Golf Bags Perfumes Cassettes Dishwasher parts Tool Boxes Shoe Polish Motorcycle Helmet Caulking Petroleum Jelly Transparent Tape CD Player Faucet Washers Antiseptics Clothesline Curtains Food Preservatives Basketballs Soap Vitamin Capsules Antihistamines...
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He looked like a former linebacker, tall and solidly built. After stowing his wife's luggage in the overhead, he squeezed past me, sat down and looked straight at the astronomy textbook I was reading. "You're a scientist?" he asked. "Are you involved in that big controversy over climate?" I looked into his face and could see he wasn't angry or hostile or combative. He seemed like a good guy and, by the way his wife gently rolled her eyes, I could see he liked to talk. So I took a chance and replied. "What controversy?" What followed was a long...
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In Indonesia, members of Hizb ut-Tahrir, the Islamist organization that seeks the re-establishment of a global caliphate under Shariah law, recently held protests against higher fuel prices.
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