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Keyword: opec

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  • The End of OPEC Despotism

    06/30/2012 6:08:53 PM PDT · by neverdem · 18 replies
    Energy Tribune ^ | Jun. 29, 2012 | Peter C Glover
    The tectonic plates of Middle East politics are shifting fast. Egypt’s Arab spring may have run into the sand of anti-democratic Islamism, but the days when oil-rich Arab sheikhs colluded to hold Western economies to ransom will soon end. Massive shale oil and gas discoveries across the West, Israel’s rising status as a Middle East energy powerhouse and a deepening internal rift over strategic policy are all colluding to hasten OPEC’s demise. In June, Kuwaiti oil minister Hani Hussein’s commented, “Oil from the Middle East will always find a home. And we have to see more research to get a...
  • Desperately seeking workers in the oil patch (North Dakota has no workers)

    06/25/2012 1:03:38 PM PDT · by Titus-Maximus · 85 replies
    Fedgazette ^ | April 2012 | Phil Davies
    The Quick Take: Rapid oil and gas development in the “oil patch” of western North Dakota and northeastern Montana has created huge demand for workers—not just in the oilfields, but also in a range of non-oil industries. But so far, the supply of labor—from within and outside the region—has responded slowly to demand. In recent years, job openings have soared and unemployment has dropped to very low levels—below 3 percent in a number of counties. The Bakken oil play is drawing job seekers from other Ninth District states and the rest of the country, but they’re not coming in sufficient...
  • Saudi Arabia keeps oil tap on for world growth, Russia hurts

    06/25/2012 1:12:48 PM PDT · by Tailgunner Joe · 11 replies
    reuters.com ^ | June 25, 2012
    LONDON, June 25 (Reuters) - Saudi Arabia is showing no sign of changing its policy of high oil output to support global economic growth, despite a fall in crude prices below $90 a barrel for the first time in 18 months. Gulf and Western government sources in contact with Saudi officials said the OPEC power can tolerate oil at $90 or below for months, price levels that hurt Iran and Russia as they face off against Riyadh over the conflict in Syria. .... "If we keep producing at roughly the same rate, we're not flooding the market," said a senior...
  • U.S. oil production reaches historic high As price plummets

    06/11/2012 8:21:52 PM PDT · by jyro · 52 replies
    WASHINGTON, June 11 (UPI) -- Federal leases in the Gulf of Mexico, along with output from Texas and North Dakota, pushed U.S. oil production to its highest level in 14 years, the EIA said. The U.S. Energy Department's Energy Information Administration reports that U.S. oil production during the first quarter of 2012 topped 6 million barrels per day for the first time since 1998. "The roughly 6 percent growth in U.S. oil production from October 2011 through March 2012 is largely the result of increases in oil output in North Dakota, Texas and the Gulf of Mexico," the agency said...
  • Fossil Fuels. When are we going to stop using this false description of anaerobic oil?

    06/04/2012 10:05:51 AM PDT · by jongaltsr · 93 replies
    General Knowledge verses historical (mis-knowledge)
    How long are we going to continue referring to oil as Fossil fuel when we have known for many (Many) years that oil as we know it comes not from Dinosaurs etc but rather from "other" organic materials such as "trees" etc. Animals that die (including dinosaurs) do not leave a trace of "oil" when they die. They putrefy, dehydrate and turn to dust, leaving only their bones to be discovered later on. Yes there are fossils in the La Brea Tar Pits and many other such surface Tar Pits around the world but that is because animals fell in...
  • NRC Committee Finds That Humans Are Triggering Quakes

    06/16/2012 6:37:10 PM PDT · by neverdem · 32 replies
    ScienceInsider ^ | 15 June 2012 | Richard A. Kerr
    Enlarge Image Shake, rattle, and roll. Even gas wells, such as this experimental platform in Colorado in the 1980s, can trigger quakes, a new report finds. Credit: U.S. Department of Energy Pumping all manner of fluids into deep rock formations has triggered earthquakes strong enough to cause a bit of damage while seriously rattling the local populace, a committee of the National Research Council (NRC) concluded in a report released today. Fracking for natural gas and oil, formally known as hydraulic fracturing, has been responsible for only one or two triggering episodes, the committee found. But hundreds of felt...
  • Argentina to 'immediately launch' criminal proceedings against UK oil firms

    06/04/2012 7:02:26 PM PDT · by MinorityRepublican · 20 replies
    The Telegraph ^ | 04 Jun 2012 | Philip Aldrick
    The Argentine foreign ministry on Monday declared "illegal and clandestine" the activities of Desire Petroleum, Falkland Oil and Gas, Rockhopper Exploration, Borders and Southern Petroleum, and Argos Resources on the grounds that they are drilling in Argentine waters. President Cristina Fernandez de Kirchner said the companies were operating "in a sovereign area of the Argentine nation and as such fall within its specified laws and rules". The companies "are not authorised by the Argentine government under law 17.319 on hydrocarbons", she added. According to the Argentine foreign ministry, her declaration opened the way for the "immediate launch" of criminal proceedings....
  • Obama to fight judge’s ruling EPA overstepped bounds in revoking coal mine permit

    06/03/2012 7:48:45 PM PDT · by Texas Fossil · 17 replies
    Unified Patriots ^ | June 2, 2012 | Lady Impact Ohio
    The sorry saga continues, as the Obama administration is intent on getting their way in everything and by any means possible. In January of 2011 I reported that the EPA had revoked the permit for an already-in-use coal mine in West Virginia, the Spruce Mine to be specific operated by Arch Coal, citing “violations of the Clean Air Act.” This unprecedented action struck fear in the hearts of not only coal companies who have invested millions of dollars and time into securing the necessary permits, but other business owners as well. After all, why would they want to invest in...
  • Keystone readies SE Texas linkage

    05/30/2012 5:11:23 PM PDT · by thackney · 3 replies
    Beaumont Enterpris ^ | May 30, 2012 | Dan Wallach
    A crude oil pipeline that will run 485 miles from Cushing, Okla., to Southeast Texas should be under construction by late summer and operational in late 2013. TransCanada, the builder of the Keystone Pipeline, is looking for workers, vendors and suppliers to help support the $2.3 billion project. On Tuesday, TransCanada conducted a registration workshop in Beaumont, similar to others it has sponsored in other areas along the route. "We'll need supplies, goods and services," TransCanada spokesman Jim Prescott said, listing fuel, tires, oil and welding sticks. And, he said, "We anticipate it will create about 4,000 direct construction jobs...
  • What has caused the recent drop in oil price/bbl(about $20/bbl; $0.60/gal at the pump)? (Vanity)

    05/30/2012 7:51:58 PM PDT · by izzatzo · 49 replies
    self ^ | 05/30/2012 | izzatzo
    Actually, I know the answer to my own question. The answer is manyfold: Hussein has lifted the drilling moratorium; Hussein approved Keystone; Hussein has opened domestic exploration, drilling, and production; Hussein has opened the "strategic reserve"; Hussein didn't actually "invest" all those billions in Brazil's, etc. petroleum industries, he invested it our petroleum industry; Hussein Obama pees oil thereby increasing domestic supply driving the price down; isn't Obama wonderful? NOT I'm not an industry economist so what did I miss? Don't tell me it's all because of Memorial Day and summer's arrival, that doesn't make sense. This is not an...
  • June 2012 could be America's pivotal month

    05/31/2012 7:58:53 AM PDT · by billorites · 5 replies
    Washington Examiner ^ | May 30, 2012 | Philip Klein
    June is usually a sleepy month during any presidential election, but not this year. Two events this month will not only affect the outcome of the presidential election, but also have a dramatic impact on the direction of the country, no matter who wins in November. On June 5, Wisconsin voters will decide whether or not to recall Republican Gov. Scott Walker. The vote will be the culmination of an 18-month campaign by big labor to thwart Walker's public sector union reforms, which are already loosening the stranglehold that the unions had on state and local budgets. With just a...
  • Friday's US Jobs Report Is So Stunningly Bad It's A Danger To The Global Economy

    06/03/2012 10:37:55 AM PDT · by Son House · 43 replies
    Business Insider ^ | Jun. 3, 2012 | AP Writers
    Alan Krueger, head of the president's Council of Economic Advisers, pointed out that the country has added jobs for 27 months in a row, including 4.3 million jobs in the private sector. The economy still has a few bright spots. Americans bought cars and trucks a strong pace last month, giving automakers their best May since 2008. Underscoring the challenge for Obama with five months to go in the campaign, a May poll by The Associated Press and GfK, a research company, showed that 52 percent disapproved of Obama's handling of the economy while 46 percent approved. Some financial analysts...
  • Neocons vs. Islamophobes

    05/24/2012 5:37:04 PM PDT · by rmlew · 8 replies
    Salon ^ | May 16, 2012 | Jordan Michael Smith
    The Muslim Brotherhood, a group that was once thought virtually extinct in Syria, has surprised everyone by staging a comeback. The Islamist group is, according to Reuters, a “dominant force” in the Syrian opposition. Similarly, in Egypt, the MB has become perhaps the most powerful group in the wake of the Revolution.This doesn’t sit well with everyone in the American conservative movement, and two factions are vying to define the Republican response to the increased power of political Islam. Leading what might be called the ‘to-hell-with-democracy’ strain of thought is Andrew McCarthy, a national-security columnist for National Review and senior...
  • Israel Discovers New Giant Off-Shore Oil and Gas Field

    06/03/2012 7:39:21 AM PDT · by Eleutheria5 · 31 replies
    Arutz Sheva ^ | 3/6/12 | Tzvi ben Gedalyahu
    An Israel energy company announced Sunday it has discovered an off-shore energy field that may even surpass previous finds in terms of the possibilities of developing commercial grade oil. Israel Opportunity Energy Resources LP announced that its Pelagic licenses indicate 6.7 trillion cubic feet (TCF) of gas and 1.4 billion barrels of oil. By comparison, the previously announced Tamar and Leviathan off-shore fields contain an estimated 9 and 17 TCF of natural gas. The amount of commercial oil, if any, has not been finalized, but estimates of possible oil in the Leviathan field have been downsized to 600 million barrels....
  • Euro-zone Crisis Will Hit Russia Hard

    05/28/2012 10:15:59 AM PDT · by blam · 9 replies
    TMO ^ | 5-28-2012<b> | Pravda
    Euro-zone Crisis Will Hit Russia Hard Economics / Russia May 28, 2012 - 07:38 AM By: Pravda The political collapse in Greece and Moody's downgrade of the rankings of 16 Spanish banks at once have led to the decline in stock indexes all over the world. In Russia, the head of the Central Bank, Sergei Ignatiev, showed an optimistic reaction to such unpleasant news. Making a speech at the government last week, the official urged everyone not to panic. According to him, Russia is prepared to the crisis much better than it was four years ago. Economists say, though, that...
  • UPDATE 6-Brent crude oil rises above $107 on Greece, Iran

    05/28/2012 12:04:11 PM PDT · by SunkenCiv · 12 replies
    Reuters ^ | Monday, May 28, 2012 | Christopher Johnson
    Oil rose above $107 per barrel on Monday as fears of a euro zone break-up receded but Middle East oil supply worries resurfaced after minimal progress in talks over Iran's nuclear programme. Opinion polls suggested Greece's pro-bailout conservatives could win elections on June 17, keeping the country in the euro zone and making a swift collapse of the currency bloc less likely. Fears of a war in the Gulf that could threaten global oil supplies have returned after world powers failed to convince Iran last week to halt its most sensitive nuclear work. Tension between Iran and the West remains...
  • Eni makes big oil discovery in Egypt (150-250 million barrels )

    05/25/2012 8:24:30 AM PDT · by Red Badger · 1 replies
    Reuters ^ | 05-24-2012 | Svetlana Kovalyova
    Italy's oil and gas major Eni has made a big oil discovery in the Western Desert of Egypt, part of the group's strategy of refocusing exploration activities in the country by targeting deeper plays in the Western Desert region. The discovery, at the Emry Deep exploration prospect, located in the Meleiha Concession 290 kilometers south west of Alexandria, is estimated at 150-250 million barrels of oil in place and will require further appraisal drilling, Eni said in a statement on Thursday. The full field development foresees an early production phase from the current well to be followed by the drilling...
  • The Plan for 21st Century American Resurgence

    05/23/2012 5:08:02 AM PDT · by tselatysr · 5 replies
    Tea Party Tribune ^ | 2012-05-23 03:40:40 | TPTsubmissions
    The most crucial Presidential election, in a lifetime, nears.  Please read what I authored.  Is this the proper direction for America, now? It is Romney, his baggage and his ideology, vs. Obama, his baggage and his ideology. What else could the election represent? It represents the future for America and our families, now and forever.  -Lance"THE ECONOMIC FUTURE FOR AMERICA IS NOW, STARTING IN 2009", (2012).By: S. Lance SilverHow are we going to pay now and in the future for our American lifestyle? It's so simple.We create money for American expenditures currently in two methods:1. by Taxation;2. by Printing;There is...
  • Ahmadinejad, Farrakhan & The Black Panthers: Shocking New Details on Their Meeting & the ‘Beast’...

    05/22/2012 11:34:07 PM PDT · by Perseverando · 25 replies
    The Blaze ^ | May 22, 2012 | Benny Johnson
    Ahmadinejad, Farrakhan & The Black Panthers: Shocking New Details on Their Meeting & the ‘Beast’ Axis That Was Forged According to New Black Panther Chairman Malik Zulu Shabazz: Envisions the “glory” of “paroling on the Israeli embassy with a hundred New Black Panthers” fighting for Palestine. Fighting white people is an “international struggle against a common enemy.” Whites are trying to “divide the non-white” population against each other Because “half of Africa” was involved in slavery “we say Africa owes us reparations, too.” Black radicals should seek “alliances that are possible right now with people who got solid track records...
  • Top 10 reasons President Obama won't be reelected

    05/21/2012 9:44:54 AM PDT · by QT3.14 · 29 replies
    Human Events ^ | May 19, 2009 | Staff
    If you have any doubts that Obama will be sent packing from the White House in November, then cast your eyes at this list of reasons Barack Obama will be a one-term president.
  • Enbridge starts historic flow on Seaway oil pipeline { First flow to Texas refiners from Cushing}

    05/21/2012 5:42:57 AM PDT · by thackney · 3 replies
    Calgary Herald ^ | MAY 17, 2012 | DINA O'MEARA
    First oil will flow south to refiners in the U.S. Gulf Coast this weekend on the Seaway pipeline, providing slight relief to bloated storage in the Midwest and to discounted Canadian crude. Enbridge Inc. and partner Enterprise Products Partners said Thursday the 150,000 barrel-per-day line reversal was complete, and oil from Cushing, Oklahoma would be arriving in Houston, Texas within two weeks. Markets responded to the news by shrinking the discount of West Texas Intermediate to Europe’s Brent by $2 to approximately $14 US per barrel on visions of slowly debottlenecking record amounts of oil at Cushing. The difference had...
  • Mitt Romney vows immediate approval of Keystone XL on first day in White House

    05/21/2012 5:35:18 AM PDT · by thackney · 42 replies
    Calgary Herald ^ | MAY 18, 2012 | LEE-ANNE GOODMAN
    Mitt Romney is vowing to approve TransCanada's Keystone XL pipeline on his first day on the job if elected U.S. president in November. In a campaign ad unveiled on Friday, the presumptive Republican nominee asks voters to imagine Day 1 of his presidency, and lists Keystone as a top priority. "Day One, President Romney immediately approves the Keystone pipeline, creating thousands of jobs that Obama blocked," the ad's narrator says. Romney has been maligning U.S. President Barack Obama for months for failing to give the green light to Keystone. The president rejected the $7 billion pipeline earlier this year, but...
  • Joe Sixpack Get Lost!

    05/20/2012 9:42:07 PM PDT · by neverdem · 23 replies
    The Daily Caller ^ | 05/19/2012 | Mickey Kaus
    So it’s unanimous, then– Thomas Edsall was right: In the aftermath of Obama’s gay marriage flip, pundits seem to have concluded that Obama’s Democratic party has indeed given up on white working class voters. They’ve been dropped from the winning coalition, which is now composed of three main groups: “young people, college-educated whites (especially women), and minorities,” according to Ron Brownstein. Bill Galston agrees. Ruy Teixeira–who once wrote a book called America’s Forgotten Majority: Why the White Working Class Still Matters–agrees. Here’s Teixeira on how Obama can win Arizona: First, the share of Hispanic voters must grow and their support...
  • Gas Should Be More Expensive (Democrat Policy Barf Alert)

    05/20/2012 9:26:10 PM PDT · by tsowellfan · 27 replies
    If we want to reduce fossil fuel consumption, I say, we should raise the price of gasoline to $7 a gallon. Reason: Today this country burns through 21 million barrels of oil per day, 60 percent of which is imported. Only with some shared economic pain will we ever change our habits. High gas prices will force us to think before we drive. It will encourage mass transit use, car pooling, and the sale of more fuel-efficient cars. The auto industry will not suffer because it has learned that it can charge more for cars that are cheaper to build...
  • Role of American capitalism on trial

    05/20/2012 7:41:04 PM PDT · by Innovative · 14 replies
    Washington Post ^ | May 20, 2012 | Robert J. Samuelson
    This election is being fought along the traditional skirmish line of capital versus labor. President Obama projects himself as the protector of workers and families who are preyed upon by greedy and wealthy capitalists. Mitt Romney counters that the president doesn't understand business and that his antagonism discourages private investment and job creation. A couple of observations on the table. First, capital income doesn't flow just to "fat cats." It also goes to small businesses, retirement accounts, college endowments, ordinary shareholders, landlords and people who collect interest. Second, labor's shrinking share isn't necessarily a disaster for workers. What else is...
  • Fraking's a political hot potato for Cuomo

    05/20/2012 4:10:55 PM PDT · by Impala64ssa · 15 replies
    Times Herald-Record Middletown, NY ^ | 5/20/12 | Steve Israel
    ALBANY — While the protesters who packed the stone stairwell of the state Capitol chanted "Ban Fracking Now," the political types in suits down the hall spoke of a different reality. Those protesters at Tuesday's anti-fracking rally in Albany carried signs saying "Governor Cuomo In 2014 We'll Remember" — a warning to Andrew Cuomo they won't vote for him if he doesn't ban the natural-gas extraction technique of hydraulic fracturing, or fracking. The buzz among the men and women outside the state Senate chamber said Cuomo's presumed political aspirations are the exact reason why there's so much pressure on him...
  • Will U.S. Sovereignty Be LOST At Sea? Obama Signs U.N. Treaty That Redistributes Drilling Revenues

    05/20/2012 10:18:50 AM PDT · by Innovative · 207 replies
    Forbes ^ | may 20, 2012 | Forbes OpEd
    A proposed Law of the Sea Treaty (LOST), which has been signed by President Obama but not yet ratified by Congress, will subordinate U.S. naval and drilling operations beyond 200 miles of our coast to a newly established U.N. bureaucracy. If approved, it will grant a Kingston, Jamaica-based International Seabed Authority (ISA) the power to regulate deep-sea oil exploration, seabed mining, and fishing rights. As part of the deal, as much as 7% of U.S. government revenue that is collected from oil and gas companies operating off our coast will be forked over to ISA for redistribution to poorer, landlocked...
  • Pipeline Flip Turns U.S. Oil World 'Upside Down'

    05/19/2012 1:51:53 PM PDT · by Theoria · 41 replies
    NPR ^ | 18 May 2012 | Jeff Brady
    The U.S. oil boom has created a glut of crude in Cushing, Okla., a major oil storage hub. This sign dubs the city the "Pipeline Crossroads of the World." For years, Cushing, Okla., has been on the receiving end of a 500-mile pipeline funneling oil from the Gulf of Mexico to the American heartland.Starting this weekend, that pipeline will start moving crude in the other direction. That flow reversal could soon have implications at gas pumps around the country."For 40 years, crude oil flowed north," says Philip Verleger, a visiting fellow at the Peterson Institute for International Economics. "Today, oil...
  • Europe's Failed Natural Gas Strategy: Gazprom Hopes to Build Second Baltic Sea Pipeline

    05/19/2012 12:41:27 PM PDT · by Olog-hai · 1 replies
    Der Spiegel ^ | 05/18/2012 | Frank Dohmen and Alexander Jung
    With the planned Nabucco natural gas pipeline in southern Europe hitting snag after snag, Russian natural gas giant Gazprom is considering the construction of a second Baltic Sea pipeline to go with the just-finished Nord Stream. With unconventional natural gas from the US flooding the market, however, the strategy is not without risk. … Indeed, it is beginning to look as though the erstwhile competition between the two pipelines has been overwhelmingly won by Nord Stream. (Gerhardt) Schröder's team has just decided to expand the Baltic Sea pipeline's capacity. The owners, Gazprom, E.on-Ruhrgas, Wintershall, Gaz de France and the Dutch...
  • Romney makes 'day one' promises in TV advertisement (Obama agenda into the trash!)

    05/19/2012 2:07:23 PM PDT · by Cringing Negativism Network · 58 replies
    BBC ^ | 18 May 2012 | (not attributed)
    ...In a statement, the campaign says Mr Romney would support using an executive order to waive "Obamacare" for all 50 states, and the pipeline would be "approved" by Mr Romney...
  • Energy Debates Heat Up As High Electric Rates Continue

    05/18/2012 12:47:51 PM PDT · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 5/16/2012 | Jack Spencer
    Residents and businesses in Michigan are wrestling with the highest electric rates in the region — and with the best way to fix that situation. As is often the case in Michigan, a more competitive market versus a monopoly market is central to the debate, as is mandating an increase in the amount of renewable energy the state uses. According to the U.S. Energy Information Administration, Michigan's electric rates at the beginning of the year were 10 percent above the national average and had increased 8 percent over the previous year. With this reality as a backdrop, the state's energy...
  • Gingrich to Newsmax: Good Chance GOP Can Win Senate, Presidency (11-minute video interview)

    05/15/2012 5:45:59 PM PDT · by BCrago66 · 8 replies
    Newsmax ^ | 5/15/12 | Jim Meyers and Kathleen Walter
    Former House Speaker Newt Gingrich tells Newsmax in an exclusive interview that Republicans have a “two out of three” chance of winning not only the White House in November, but the Senate and House as well. The reason, he says: President Obama “doesn’t have a clue about what he’s doing” and Americans can’t afford four more years of this “disaster.” Gingrich suspended his presidential campaign on May 2 and has endorsed Mitt Romney. The veteran Georgia lawmaker was first elected to the House in 1978 and served as speaker from 1995 to 1999 before announcing his retirement.
  • GAO: Recoverable shale oil in US 'about equal to entire world's proven oil reserves'

    05/14/2012 3:35:29 PM PDT · by tobyhill · 16 replies
    American Thinker ^ | 5/14/2012 | Rick Moran
    The Green River Formation, a largely vacant area of mostly federal land that covers the territory where Colorado, Utah and Wyoming come together, contains about as much recoverable oil as all the rest the world's proven reserves combined, an auditor from the Government Accountability Office told Congress on Thursday. The GAO testimony said that the federal government was in "a unique position to influence the development of oil shale" because the Green River deposits were mostly beneath federal land. It also noted that developing the oil would have an environmental impact and pose "socioeconomic challenges," that included bringing "a sizable...
  • In the American west: An ocean of oil

    05/13/2012 7:36:35 PM PDT · by Ernest_at_the_Beach · 93 replies
    Hot Air ^ | 7:31 pm on May 13, 2012 | Jazz Shaw
    In case you missed it – and you very well might have, since the media was too busy talking about gay marriage to be bothered – a rather remarkable thing happened in Washington this week. An auditor from the GAO testified before the House Science Subcommittee on Energy and Environment on the subject of energy. But instead of hearing about how horrible things are, she calmly delivered something of a bombshell. “The Green River Formation–an assemblage of over 1,000 feet of sedimentary rocks that lie beneath parts of Colorado, Utah, and Wyoming–contains the world’s largest deposits of oil shale,”Anu K....
  • Obama campaign adds 'clean coal' to website after GOP complaints

    05/11/2012 10:32:25 AM PDT · by Free ThinkerNY · 8 replies
    The Hill ^ | May 11, 2012 | Andrew Restuccia
    The Obama campaign added a section on “clean coal” to its website this week after House Republicans alleged that the president’s “all-of-the-above” energy plan neglected the fossil fuel. “President Obama has set a 10-year goal to develop and deploy cost-effective clean coal technology,” the website now says. “The Recovery Act invested substantially in carbon capture and sequestration research, including 22 projects across four different areas of carbon capture-and-storage research and development.” As of Wednesday, the website did not include “clean coal” in a graphic outlining the president’s much-touted “all-of-the-above” energy plan. The graphic mentions oil, natural gas, biofuels, wind, solar...
  • Chairman Hastings: Documents Raise Serious Questions

    05/10/2012 2:04:02 PM PDT · by sheikdetailfeather · 10 replies
    Chairman Hastings: Documents Raise Serious Questions about Thoroughness and Independence of Inspector General’s Investigation into Drilling Moratorium Report Hastings sends letter to IG and releases documents received by Committee to date WASHINGTON, D.C., May 10, 2012 - House Natural Resources Committee Chairman Doc Hastings (WA-04) today sent a letter to Department of the Interior’s Acting Inspector General Mary Kendall expressing deep concern with the thoroughness of the Office of Inspector General’s (IG) investigation into whether an Obama Administration report that recommended a six-month drilling moratorium was intentionally edited to incorrectly state the views of peer reviewers, and with the IG’s...
  • [Hugo Chavez and] The EPA's 'Crucify' Politics On Energy Development

    05/11/2012 1:23:42 AM PDT · by Cincinatus' Wife · 3 replies
    Investor's Business Daily ^ | April 26, 2012 | Staff Editiorial
    Abuse Of Power: An EPA official who apparently made good on a threat to "crucify" an oil company to make the entire energy industry "easy to manage" should resign or be fired. So why is the White House protecting him? EPA regional administrator for Dallas Al Armendariz told a city council meeting in a taped speech two years ago that his "philosophy" of enforcement was to single out an oil company, punish it "as hard as you can," and make an example of it to scare others into submission. "The Romans used to conquer little villages in the Mediterranean," said...
  • China Warns Phillipines of War

    05/10/2012 2:38:16 PM PDT · by MrDaddyLongLegs · 56 replies
    Yahoo 7 News ^ | 11/5/2012 | AFP
    MANILA (AFP) - China told its citizens Thursday they were not safe in the Philippines and its state media warned of war, as a month-long row over rival claims in the South China Sea threatened to spill out of control. Chinese travel agencies announced they had suspended tours to the Philippines, under government orders, and the embassy in Manila advised its nationals already in the country to stay indoors ahead of planned protests. http://au.news.yahoo.com/world/a/-/world/13654401/china-warns-citizens-as-row-with-philippines-escalates/
  • Arab oil handouts waste billions (skimps on poor, distorts economy)

    05/07/2012 5:37:50 AM PDT · by Milagros · 3 replies
    System skimps on poor, but Arab rulers dare not roll back political hot potato Agence France-Presse April 20, 2012 Arab countries are wasting tens of billions of dollars on subsidies for fuel and energy but dare not roll them back for fear of a political backlash, a UN report said. The UN Development Program (UNDP) report said six of the world's 10 biggest subsidizers are in the Arab world, led by Kuwait, Saudi Arabia and Qatar. People in the three countries pay less than a third of world prices for car fuel and electricity. The annual cost for Saudi Arabia...
  • Ever notice how the Arab oil interests control our economy?

    05/07/2012 5:14:29 AM PDT · by Milagros · 14 replies
    Subject: Ever notice how the Arab oil interests control our economy? Author: Chris Kloss Date: 13 Jul 2009 IMHO, if the price of oil had remained low, the financial crisis would have been of short duration. Oil price affects just about everything in our economy, not just gasoline for cars. A rapid increase in the price of oil requires a reallocation of the money people and businesses spend. Businesses must raise prices and, one result of this might be a lower demand. Businesses need more money to replace inventory. Persons and businesses on the edge cannot meet their financial obligations....
  • Global warming deniers mount ad campaign calculated to outrage (and it's working!)

    05/06/2012 7:36:50 PM PDT · by Zakeet · 58 replies
    Los Angeles Times ^ | May 4, 2012 | Dan Turner
    It has finally happened: The Heartland Institute, an anti-science front group that used to focus on downplaying the dangers of smoking on behalf of Phillip Morris but now spends much of its time denying the scientific consensus on climate change, has decided to stop even trying to be credible in order to attract publicity. In the vernacular: It has gone all PETA on us. "I still believe in global warming. Do you?" reads a caption written in bright red on a billboard recently mounted in Chicago by the Heartland folks, next to a wild-eyed mugshot of Unabomber Ted Kaczynski....
  • President Obama's "All Of The Above" Energy Duplicity

    05/06/2012 7:24:38 PM PDT · by Innovative · 4 replies
    Forbes ^ | May 6, 2012 | Robert Bradley Jr.
    There's been a noticeable sea change in the way President Obama talks about energy. Don't buy the makeover. The new Obama is running from his record - and plans to revert to old ways after what he calls "my last election" with all the tools at his disposal. To simply stick with the pro-green, anti-oil strategy was political peril. So Obama went surreal with an "all-of-the-above" energy agenda. Obama's Environmental Protection Agency recently issued new rules that will force 32 mostly coal-powered plants to close and threaten another 36 facilities. The agency has also issued "blackout" regulations that effectively prohibit...
  • Ethanol Boom Helps Cut $31 Billion From Farm Subsidies

    01/24/2007 12:59:25 PM PST · by kellynla · 61 replies · 916+ views
    NewsMax.com ^ | Jan. 24, 2007 | staff
    WASHINGTON -- The fuel ethanol boom and high crop prices will cut U.S. farm subsidy spending by $31 billion through 2016, a dramatic drop in the cost of the farm program, the Congressional Budget Office said on Wednesday. In a semiannual report, CBO estimated farm subsidies would cost $10 billion this year and the annual cost "will range between $8 billion and $10 billion over the next decade." The forecasts are expected to constrain this year's overhaul of farm policy by Congress. The 2002 farm law, which allocates about $20 billion a year on farm supports, expires in the fall....
  • High Demand Causes Surge in Corn Prices (ethanol/energy-related)

    01/12/2007 6:47:18 AM PST · by xzins · 55 replies · 938+ views
    Las Vegas Sun ^ | 12 Jan 07 | Libby Quaid
    High Demand Causes Surge in Corn Prices By LIBBY QUAID ASSOCIATED PRESS WASHINGTON (AP) - Ethanol plants and foreign buyers are gobbling the nation's corn supplies, pushing prices as high as $3.40 a bushel, the Agriculture Department said Friday. Farmers haven't seen prices this high for more than a decade. The monthly crop report forecast even better prices than in December, raising the estimate 10 cents to $3 to $3.40 a bushel. Robust prices have made corn more expensive for livestock feed and as food for people. But a drop-off in those uses was more than offset by growing demand...
  • Looming Crisis: Officials Close Gulf Waters to Shrimping As Reports of Deformed Seafood Intensify

    04/26/2012 10:36:15 PM PDT · by Razzz42 · 58 replies
    stuarthsmith.com ^ | April 23, 2012 | Stuart H. Smith
    larmed by widespread reports of visibly sick, deformed seafood coming out of the Gulf of Mexico, state officials have closed area waters to shrimping this morning (April 23). The waters will be closed indefinitely as scientists run tests in an effort to get a handle on a situation that is fast becoming a full-blown crisis on the Gulf Coast. The closures – including all waters in the Mississippi Sound, Mobile Bay, areas of Bon Secour, Wolf Bay and Little Lagoon – mark the first official step in responding to increasingly urgent reports from fishermen and scientists of grotesquely disfigured seafood...
  • EPA clears way for more fracking profits

    04/24/2012 8:46:01 PM PDT · by Ernest_at_the_Beach · 12 replies
    Marketwatch ^ | April 24, 2012, 4:11 a.m. EDT | Kirk Spano
    Last week, tucked into the headlines was a story describing how the Environmental Protection Agency decided to give oil and gas companies until 2015 to fully comply with so-called "green completions" for their hydraulic fracturing operations. In the near term, this move removes the risk for companies engaged in "fracking" of having the EPA slow their high growth via the rapid implementation of new rules. For exploration and production companies, such as Bakken acreage leader Continental Resources /quotes/zigman/465953/quotes/nls/clr CLR -0.13%   and diversified independent oil and gas producer Apache Corporation /quotes/zigman/218137/quotes/nls/apa APA +0.33% , the slow phase-in of cleaner fracking...
  • Governor Palin: Dear America, Our Orwellian President Fails on Energy

    04/17/2012 8:20:42 PM PDT · by LJM · 15 replies
    Facebook ^ | April 17, 2012 | Sarah Palin
    Last Friday, former energy trader and now Fox News host Eric Bolling and I hosted a Fox special called “Paying at the Pump,” which offered President Obama solutions to reduce prices at the pump and get our country on the path to real energy security. A genuine “all of the above” approach to energy independence is, of course, a multifaceted plan. It includes conservation and sensible private sector investment in sound alternative energy, and it absolutely must involve unleashing our domestic energy production.
  • Obama tightens oil and gas drilling regulations

    04/18/2012 4:29:20 PM PDT · by tobyhill · 6 replies
    cnn ^ | 4/18/2012 | By Steve Hargreaves
    The Obama administration tightened regulations on the oil and gas industry Wednesday, requiring drillers to capture emissions of certain air pollutants from new wells. But in a nod to industry concerns that the rules were being enacted too quickly, the Environmental Protection Agency said companies can burn the pollutants at the well head until the start of 2015, when enough equipment is expected to be available to capture the pollution.
  • BrightSource and the Fracking Task Force

    04/18/2012 7:42:10 PM PDT · by neverdem · 3 replies
    American Thinker ^ | April 16, 2012 | Jeffrey Folks
    Bad stuff always happens on Friday the 13th. So it was on Friday that BrightSource Energy, the large solar energy company that has already received $868 million of a $1.6-billion loan guarantee, canceled its IPO application. And that same day, President Obama appointed Heather Zichal to head a new high-level task force to coordinate regulation of hydraulic fracking. The two events, both highly inauspicious, were not unrelated. The connection is simple and obvious: in order to prop up failing solar companies, Obama needs to force natural gas prices higher. Solar energy companies like BrightSource can't seem to compete without government...
  • Hope & Change to Blame & Shame….Obama Panders To The Left On Oil Speculators

    04/19/2012 12:34:14 PM PDT · by Starman417 · 2 replies
    Flopping Aces ^ | 04-19-12 | Curt
    More pandering from Obama: [VIDEO AT SITE] Of course government needs to step in to protect consumers because god knows us consumers can't think for ourselves and we need to be protected from those eeeevvviiiiiilllllll bankers...woops, I mean those eeeeevilllllll CEO's....woops, I mean those evvvvvillllll speculators. Now it's the speculators and their evil capitalist ways. I mean how dare they want to make a profit? To a Socialist, like this man, it's pure evil to want to make money. Everything should be done to help the State, all profits should be confiscated and the government should be allowed to...