Free Republic 2nd Quarter Fundraising Target: $85,000 Receipts & Pledges to-date: $24,008
28%  
Woo hoo!! And the first 28% is in!! Thank you all very much!!

Articles Posted by thackney

Brevity: Headers | « Text »
  • Enterprise to build ethane export facility near Texas coast

    04/23/2014 9:49:22 AM PDT · by thackney · 13 replies
    Fuel Fix ^ | April 23, 2014 | Collin Eaton
    Enterprise Products Partners is planning to build an ethane export facility along the Gulf Coast in Texas, capable of loading 240,000 barrels per day of liquefied gas onto tankers headed for international buyers. The new export complex could help relieve a massive glut in U.S. ethane supplies, which Enterprise estimates could shoot past demand by 700,000 barrels per day by 2020. Ethane, a ubiquitous byproduct of the surge in North American energy production, is used as a feedstock for chemical plants like Dow Chemical’s planned ethylene complex in Freeport, Texas. “By providing new markets access to ethane, we are assisting...
  • Navy develops fuel from seawater (video)

    04/23/2014 7:08:44 AM PDT · by thackney · 46 replies
    Fuel Fix ^ | April 22, 2014 | Simone Sebastian
    Navy researchers say they have turned seawater into fuel that could power military vehicles for less than $6 per gallon. The researchers announced this month that the seawater-based fuel successfully powered a remote-controlled model jet with a standard two-stroke internal combustion engine. Carbon dioxide and hydrogen gas extracted from Gulf of Mexico water were converted into liquid hydrocarbon fuel using gas-to-liquid technology. The renewable fuel mirrors its petroleum-based counterpart and could be used in standard military engines. “The potential payoff is the ability to produce JP-5 fuel stock at sea, reducing the logistics tail on fuel delivery with no environmental...
  • North Dakota tribes’ oil output rivals US states

    04/23/2014 6:39:04 AM PDT · by thackney · 24 replies
    AP via Fuel Fix ^ | April 23, 2014 | Josh Wood
    Oil production on the Fort Berthold Indian Reservation in North Dakota has become so large that it would rank among the top 10 oil producing states in the nation, a tribal leader said Tuesday. Tex Hall, chairman of the Three Affiliated Tribes — Mandan, Hidatsa and Arikara — said the more than 1,000 wells in the Fort Berthold Indian Reservation produce in excess of 180,000 barrels of oil a day. Compared directly with state production, that puts them among the top 10 oil producers in the nation. “It’s a modern day gold rush. It’s a modern day Deadwood, South Dakota,”...
  • EPA Acknowledges Ethanol Damages Engines

    04/23/2014 6:20:29 AM PDT · by thackney · 78 replies
    Motorcycle USA ^ | April 21, 2014 | American Motorcyclist Association
    The U.S. Environmental Protection Agency has publicly acknowledged that ethanol in gasoline can damage internal combustion engines by increasing exhaust temperatures and indirectly causing component failures, the American Motorcyclist Association reports. The EPA statements are found in a rule proposal issued by the Federal Trade Commission regarding a new label for pumps that supply fuel blends high in ethanol. According to the EPA, "[e]thanol impacts motor vehicles in two primary ways. First ... ethanol enleans the [air/fuel] ratio (increases the proportion of oxygen relative to hydrocarbons) which can lead to increased exhaust gas temperatures and potentially increase incremental deterioration of...
  • New natural gas plant near Houston gains approval

    04/23/2014 5:32:56 AM PDT · by thackney · 6 replies
    Houston Business Journal ^ | Apr 22, 2014 | Jordan Blum
    Construction for a new gas processing plant near Houston has gained federal approval. The U.S. Environmental Protection Agency signed off on Dallas-based Lone Star NGL LLC's new natural gas processing plant in Mont Belvieu outside of Houston. Lone Star is a subsidiary of Energy Transfer Partners LP (NYSE: ETP) that was founded to provide natural gas liquids storage, refining, processing and pipeline transportation services. The new plant would join two other existing ones with the goal of separating natural gas liquids into products like ethane, propane, butanes and natural gas. The plant would process 100,000 barrels a day, according to...
  • CNG as a fuel sets a record in Texas in 2013

    04/23/2014 5:30:49 AM PDT · by thackney · 7 replies
    Houston Business Journal ^ | Apr 21, 2014 | Nicholas Sakelaris
    Compressed natural gas vehicles consumed a record 2.5 billion cubic feet of natural gas in Texas in 2013, according to the Energy Information Administration. That makes sense with all the new CNG fueling stations popping up and more and more fleets converting to natural gas. Also, industrial consumption reached a 10-year high in Texas, a sign that the petrochemical industry is booming again, according to the EIA. More than 1.5 trillion cubic feet were consumed for industrial purposes in Texas, the most since 2004. The amount of natural gas consumed for electric power generation dropped 6.6 percent from 2012 to...
  • BP selling stakes in Alaska’s North Slope to Houston company

    04/23/2014 5:07:38 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | April 22, 2014 | Collin Eaton
    BP is selling off stakes in four Alaskan oil fields near the gigantic Prudhoe Bay, a move that would cut about 15 percent of its crude production in the state, the company said late Tuesday. The British oil company did not disclose the price it would get from Hilcorp, a private Houston-based oil producer that has been jockeying for Alaska’s natural gas basins. In the deal, which is expected to close by the end of the year, Hilcorp would receive all of BP’s interest in the offshore Endicott and Northstar fields and half of its stakes in the Milne Point...
  • New Keystone XL Delay: 'A Stunning Act Of Political Cowardice'

    04/22/2014 5:36:56 AM PDT · by thackney · 19 replies
    Forbes ^ | 4/21/2014 | Christopher Helman
    Whenever businesses and bureaucrats don’t have the guts to stand behind a decision they’ve made, they release the news late on a Friday. In the case of the Obama administration’s move to delay indefinitely a decision to approve or deny the Keystone XL pipeline, it speaks volumes that the announcement was made not just on any Friday, but on the convergence of Good Friday and Passover. Got to be just coincidence, right? The cover story is that another delay in the five-year Keystone saga couldn’t be avoided because of unresolved legal issues over land seizures in Nebraska. Mmm-hmmm. In what...
  • Moving in with parents becomes more common for the middle-aged

    04/21/2014 2:30:54 PM PDT · by thackney · 56 replies
    Los Angeles Times ^ | April 20, 2014 | Walter Hamilton
    The number of Californians 50 to 64 who live in their parents' homes has surged in recent years, reflecting the grim economic aftermath of the Great Recession. Debbie Rohr lives with her husband and twin teenage sons in a well-tended three-bedroom home in Salinas. The ranch-style house has a spacious kitchen that looks out on a yard filled with rosebushes. It's a modest but comfortable house, the type that Rohr, 52, pictured for herself at this stage of life. She just never imagined that it would be her childhood home, a return to a bedroom where she once hung posters...
  • New Frontiers: the race to get takeaway capacity out to the West Texas oil fields

    04/21/2014 11:36:27 AM PDT · by thackney · 2 replies
    Platts ^ | April 21, 2014 | Bridget Hunsucker
    US Permian Basin pipeline capacity is slated to soon expand by about 500,000 b/d, matching growing production with takeaway capacity. But the balancing act may be short-lived, as horizontal drilling is expected to unlock more oil in the legacy field. Producers are applying shale drilling techniques learned in the North Dakota Bakken and South Texas Eagle Ford to the Permian, and some longterm forecasts for the West Texas play have been revised northward in the past year. The Permian Basin lies under West Texas and southeast New Mexico and historically produces light sweet West Texas Intermediate crude and medium sour...
  • Snuffing flares, North Dakota willing to let oil production take a hit to curb flaring

    04/21/2014 10:59:28 AM PDT · by thackney · 10 replies
    Petroleum New ^ | April 20, 2014 | Maxine Herr
    Regulators are hopeful that excessive natural gas flaring will soon be a thing of the past in North Dakota. At a public hearing scheduled for April 22, the Mineral Resources director will listen to comments regarding production curtailment to reduce flaring in order to then draft an order to be voted on at the May Industrial Commission meeting. The order will have the force of law, according to Director Lynn Helms, and he hopes to have it take effect June 1 to coincide with the gas capture plans order. In March, the commission voted to require a gas capture plan...
  • Saudi’s SABIC Says Natural Gas Shortage Limiting Domestic Growth

    04/21/2014 10:46:13 AM PDT · by thackney · 5 replies
    Gulf Business ^ | 4/20/2014 | Reuters
    Petrochemicals giant Saudi Basic Industries Corp (SABIC) is finding it very hard to grow within Saudi Arabia because of a shortage of natural gas, its chief executive said on Sunday. Mohamed al-Mady was speaking to reporters after the company reported that net profit slipped 1.8 per cent from a year earlier in the first quarter of this year as lower product prices offset rises in production and sales volumes. “The shortage of gas and many sectors competing for it have made internal expansion very hard,” Mady said. However, he noted that SABIC had several domestic projects under construction, including a...
  • The fracking divide: Mexico’s oil frontier beckons U.S. drillers in wake of new law

    04/21/2014 6:07:43 AM PDT · by thackney · 27 replies
    Washington Post ^ | April 19, 2014 | Nick Miroff
    The geological marvel known to Texas oilmen as the Eagle Ford Shale Play is buried deep underground, but at night you can see its outline from space in a twinkling arc that sweeps south of San Antonio toward the Rio Grande. The light radiates from thousands of surface-level gas flares and drilling rigs. It is the glow of one of the most extravagant oil bonanzas in American history, the result of the drilling technique known as hydraulic fracturing, or fracking. Curving south and west, the lights suddenly go black at Mexico’s border, as if there were nothing on the other...
  • Fracking Foes Cringe as Unions Back Drilling Boom

    04/21/2014 6:01:56 AM PDT · by thackney · 3 replies
    AP via the Street ^ | 04/20/14 | Kevin Begos
    After early complaints that out-of-state firms got the most jobs, some local construction trade workers and union members in Pennsylvania, Ohio and West Virginia say they're now benefiting in a big way from the Marcellus and Utica shale oil and gas boom. That vocal support from blue-collar workers complicates efforts by environmentalists to limit the drilling process known as fracking. "The shale became a lifesaver and a lifeline for a lot of working families," said Dennis Martire, the mid-Atlantic regional manager for the Laborers' International Union, or LIUNA, which represents workers in numerous construction trades. Martire said that as huge...
  • Four years later: BP busier than ever in the Gulf of Mexico

    04/21/2014 5:58:46 AM PDT · by thackney · 2 replies
    Fuel Fix ^ | April 21, 2014 | Collin Eaton
    BP’s oil empire began to shrink many decades before a massive oil spill first fouled the Gulf of Mexico and then nearly toppled its industry reign four years ago Sunday. Forty years ago, Saudi Arabia and other oil-rich states began to siphon BP’s 1 billion barrels of Middle Eastern oil — four-fifths of its reserves in 1975 — into state-owned companies like Saudi Aramco. That tightening grip on global oil is one big reason BP, even after the worst offshore oil spill in American history, is doubling down on the Gulf of Mexico. The London oil company in 2012 sold...
  • Obama administration delays action on Keystone XL {again, still...}

    04/21/2014 5:56:01 AM PDT · by thackney · 30 replies
    Fuel Fix ^ | April 18, 2014 | Jennifer A. Dlouhy
    The Obama administration on Friday said it was giving eight federal agencies more time to weigh in on the Keystone XL pipeline, a move almost certain to delay a final decision on the controversial project until after the Nov. 4 midterm elections. That timeline spares President Barack Obama from making a politically difficult decision that would either anger environmentalists or jeopardize some Senate Democrats seeking reelection in red states. But Friday’s move alienated stakeholders on all sides of the issue, including oil industry allies who accused the White House of playing politics and environmentalists who want Obama to swiftly reject...
  • Bonanza on the Eagle Ford Shale, A new energy revolution is unfolding in South Texas

    04/17/2014 6:10:34 AM PDT · by thackney · 13 replies
    Washington Times ^ | April 15, 2014 | William C. Triplett II
    Truck drivers: All over the interior United States, trucking companies are begging for drivers. The reason? They’ve all gone to Texas. There are $5,000-signup-bonus billboards along the Texas interstates and haulers have “now hiring” posted permanently... Drillers: A tough, sometimes dirty job, mostly performed by young men who can handle physical labor, but they get well paid for it — up to $1,600 a week. Women on the job site: A woman driving a one-ton Ford hauling a trailer passed by coming out of the oil fields in Karnes City, Texas. Women are on the site, usually driving trucks, but...
  • Hydraulic Fracturing: Staying Afloat in Times of Tightening Water Supply

    04/16/2014 4:53:49 PM PDT · by thackney · 7 replies
    Rig Zone ^ | April 16, 2014 | Gene Lockard|
    One of the criticisms levied against hydraulic fracturing, particularly during recent periods of drought, is the amount of water used in the process. However, energy companies are seeking to reduce water use during hydraulic fracturing, even as research shows more water is used in other activities. The numbers put things into perspective. The amount of water used to frack a well varies, but most reporting entities put the figure in a range of about 3 to 6 million gallons of water. In Pennsylvania, the average amount of water per well is about 4.4 million gallons, according to State Impact Pennsylvania,...
  • Drivers aren’t picking up on natural gas-powered F-150

    04/16/2014 1:38:11 PM PDT · by thackney · 65 replies
    Fuel Fix ^ | April 16, 2014 | Ryan Holeywell
    When Ford announced last summer it would sell a version of its F-150 pickup specially made to run on natural gas, many saw it as a watershed moment. Few light-duty vehicles used by everyday consumers are available in a natural gas configuration. Suddenly, the most popular model in America’s best-selling line of vehicles would come in a version that could run on the relatively cheap, clean fuel. But early sales numbers show that the public isn’t exactly clamoring for an F-150 powered by compressed natural gas. Ford readies the trucks for CNG conversion on the assembly line, and contractors later...
  • How Fracking Could Break Colorado Democrats

    04/16/2014 7:36:57 AM PDT · by thackney · 9 replies
    Politico Magazine ^ | April 15, 2014 | ELI STOKOLS
    Jaared Polis really doesn’t care what anyone else thinks. If you saw the Colorado congressman speaking on the House floor last month wearing a clip-on bowtie with a polo shirt under his blazer, you know what I’m talking about. He’s been this way since he first emerged on the scene. About 10 years ago, when he was just 28, Polis was one of four wealthy Colorado Democrats who pooled their considerable personal resources to create a state-of-the-art political machine that was ruthlessly effective in turning this once-red heartland state a stunning shade of blue. But Polis wouldn’t run with that...
  • Eleven Democrats Push Obama to Approve Keystone

    04/16/2014 7:30:07 AM PDT · by thackney · 12 replies
    Wall Street Journal ^ | Apr 10, 2014 | AMY HARDER
    Nearly a dozen Senate Democrats, including five up for re-election this year, are pressing President Barack Obama to approve the Keystone XL pipeline, and they say they want a decision by the end of next month. Most Republicans support the pipeline, but the 11 Democrats who wrote a letter to Mr. Obama urging him to approve the project deliberately made it a one party-effort. While a set of bipartisan signatures can be a powerful thing in the art of Washington letter-writing, these lawmakers clearly want to accentuate the pressure Mr. Obama faces from his own party on this issue. “It’s...
  • How Many Jobs Does Fracking Really Create?

    04/15/2014 1:52:51 PM PDT · by thackney · 38 replies
    National Journal ^ | April 14, 2014 | Clare Foran
    Fracking creates jobs. That's the linchpin of the oil and gas industry argument for permitting the controversial drilling practice. And it's become the industry's trump card as the debate rages—among policymakers and scientists—over whether fracking is safe for the people and environment around it. Getting an exact count of how many people collect paychecks as a result of fracking, however, is more art than science, and in many cases—particularly when it comes time for industry backers and politicians to tout the practice—a close look at the numbers shows that some of the largest estimates are based on the most generous...
  • Engaged Oil, Gas Employees is the Key to Retaining Talent

    04/15/2014 1:35:15 PM PDT · by thackney · 5 replies
    Rig Zone ^ | April 15, 2014 | Robin Dupre|
    Employees in the industry need to be motivated, challenged and awarded to be highly engaged in an industry that is witnessing recruiting and retaining challenges, a panelist discusses. - - - - - As the war for talent rages on in the oil and gas sector, employee engagement is a serious concern on the corporate agenda of every major company, remarked a panelist discussing employee engagement at a Health, Safety and Environment conference hosted by SPE International in Long Beach, California. Employee engagement or an engaged employee is defined as one who is fully absorbed by and enthusiastic about their...
  • Musings: The Oil Industry's Era of Austerity - Part Two

    04/15/2014 1:21:10 PM PDT · by thackney · 4 replies
    PPHB via Rig Zone ^ | April 15, 2014 | G. Allen Brooks
    This opinion piece presents the opinions of the author. It does not necessarily reflect the views of Rigzone. As the major oil companies struggle with how best to boost their profitability in an era of rising oilfield costs, business models are being adjusted. The changes are a reflection of managements’ attempts to change the culture of their organizations. The most popular theme is to split a company’s business into separate units with different investment and operational characterizations. For example, a popular way to split an integrated oil company is to put the most capital-intensive businesses – refining, petrochemicals, transportation and...
  • MARKET WATCH: NYMEX oil price jumps on EIA’s reduced oil production forecast

    04/14/2014 11:00:48 AM PDT · by thackney · 9 replies
    Oil & Gas Journal ^ | 04/09/2014 | Paula Dittrick
    The benchmark US crude oil futures price jumped more than $2/bbl on Apr. 8 after the US Energy Information Administration released a report saying government analysts reduced their earlier oil production forecast for this year and next. EIA estimates the US will produce 8.37 million b/d during 2014, down from an earlier forecast of 8.39 million b/d. During 2013, US oil production was 7.44 million b/d. For 2015, EIA revised its production forecast to 9.13 million b/d, down from an earlier forecast of 9.16 million b/d. US total oil consumption for 2014 was forecast at an average 18.9 million b/d,...
  • Oil and gas salaries average $130,000: Survey

    04/14/2014 9:41:30 AM PDT · by thackney · 9 replies
    Calgary Herald ^ | APRIL 9, 2014 | DAN HEALING
    Hays finds most employers expect to pay more, hire more in 2014 Canadian oil and gas worker salaries jumped six per cent to an average of $130,000 US in 2013 and the trend is expected to continue, according to a survey released Wednesday. Furthermore, despite ongoing worries about oil transportation bottlenecks, nearly three-quarters of employers who took part in the survey by global recruiting firm Hays Oil & Gas say they expect their companies will hire more people in 2014. “This past year, the industry has taken a pause,” said John Faraguna, global managing director of oil and gas for...
  • California to see surge in oil brought in by rail

    04/14/2014 7:56:20 AM PDT · by thackney · 13 replies
    Fuel Fix ^ | April 14, 2014 | Associated Press
    California is preparing for an oil boom — brought in on rail cars. There are no pipelines that bring crude oil into California. For decades, the fuel that powers the state’s 32 million vehicles has come from tanker ships or in-state production. But government regulators predict a surge in U.S. oil production will means a steep increase in the number of trains carrying it to California refineries. The Ventura County Star reported Sunday that the increase in rail traffic will happen quickly, jumping from 9,000 carloads in 2011 to more than 200,000 carloads by 2016, according to California Energy Commission...
  • Liquefied natural gas shows potential as a freight locomotive fuel

    04/14/2014 5:40:43 AM PDT · by thackney · 15 replies
    Energy Information Administration ^ | APRIL 14, 2014 | Energy Information Administration
    EIA projects that liquefied natural gas (LNG) will play an increasing role in powering freight locomotives in coming years. Continued growth in domestic natural gas production and substantially lower natural gas prices compared to crude oil prices could result in significant cost savings for locomotives that use LNG as a fuel source, according to EIA's Annual Energy Outlook 2014 (AEO2014). Taken together, the 7 major U.S. freight railroads consumed more than 3.6 billion gallons of diesel fuel in 2012, or 7% of all diesel fuel consumed in the United States. The fuel cost more than $11 billion in 2012 and...
  • NuStar opens new Corpus Christi dock for Eagle Ford crude (photos)

    04/14/2014 5:14:18 AM PDT · by thackney · 3 replies
    Fuel Fix ^ | April 11, 2014 | Jennifer Hiller
    San Antonio-based NuStar Energy LP this week celebrated the opening of its new dock at the Port of Corpus Christi, built to move crude oil from the Eagle Ford Shale. NuStar now has three loading docks in the Port of Corpus Christi and has upgraded and added to the terminal’s pump systems. Its North Beach Terminal has a capacity of 400,000 barrels per day. The new dock was scheduled to be complete in the second quarter but finished early. NuStar moved its first load of crude from the new dock in mid-February. It held a ceremony Thursday with executives, employees...
  • Lower prices pull down natural gas reserves in 2012

    04/11/2014 8:07:46 AM PDT · by thackney · 3 replies
    Energy Information Administration ^ | April 11, 2014 | Energy Information Administration
    Lower natural gas prices drove down U.S. proved reserves in 2012, despite notable gains in the Marcellus and Eagle Ford shale gas plays. The decline stopped a 14-year trend of consecutive increases in natural gas reserves, according to newly published estimates in EIA's U.S. Crude Oil and Natural Gas Proved Reserves 2012. Proved reserves are volumes of natural gas that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Natural gas proved reserves, estimated as wet natural gas that includes natural gas plant liquids, decreased 7%...
  • Natural gas has largest storage withdrawal on record

    04/11/2014 8:02:26 AM PDT · by thackney · 5 replies
    DROVERS CATTLENETWORK ^ | 04/10/2014 | Energy Information Administration
    (For the Week Ending Wednesday, April 9, 2014) Spot prices rose slightly at most hubs for the report week (Wednesday, April 2, to Wednesday, April 9) and went up significantly at the benchmark Henry Hub, following declines the previous week. The Henry Hub spot price rose from $4.35/MMBtu last Wednesday to $4.66/MMBtu yesterday. At the New York Mercantile Exchange (Nymex), the May 2014 contract increased from $4.364/MMBtu on Wednesday to $4.586/MMBtu yesterday. Working natural gas in storage rose to 826 billion cubic feet (Bcf) as of Friday, April 4, according to the U.S. Energy Information Administration (EIA) Weekly Natural Gas...
  • James River Coal pushed into bankruptcy

    04/10/2014 12:13:12 PM PDT · by thackney · 10 replies
    Richmond Times-Dispatch ^ | JOHN REID BLACKWELL | JOHN REID BLACKWELL
    A combination of a heavy debt load and a dramatic decline in demand and prices for coal pushed Richmond-based James River Coal Co. into Chapter 11 bankruptcy court protection. The company, which filed for Chapter 11 protection on Monday along with more than 30 of its subsidiary businesses, said in court filings Tuesday that it lost an estimated $16 million in 2013, as coal volumes and revenue dropped dramatically from 2012 to 2013. “The debtors’ businesses have reached the point of unsustainability absent utilization of the tools presented by Chapter 11,” James River Coal Chairman, President and CEO Peter Socha...
  • Crude oil reserves at start of 2013 reach highest level since 1976

    04/10/2014 8:03:19 AM PDT · by thackney · 7 replies
    Energy Information Administration ^ | APRIL 10, 2014 Crude o | Energy Information Administration
    U.S. crude oil proved reserves rose for the fourth consecutive year in 2012, increasing by 15% to 33 billion barrels, according to the U.S. Crude Oil and Natural Gas Proved Reserves (2012) report released April 10 by the U.S. Energy Information Administration. U.S. crude oil and lease condensate proved reserves were the highest since 1976, and the 2012 increase of 4.5 billion barrels was the largest annual increase since 1970, when 10 billion barrels of Alaskan crude oil were added to U.S. proved reserves. Contributing factors to higher crude oil reserves include increased exploration for liquid hydrocarbons, improved technology for...
  • Houston fills with crude oil that can’t be shipped out

    04/10/2014 5:59:57 AM PDT · by thackney · 43 replies
    Bloomberg News via Fuel Fix ^ | April 10, 2014 | Naomi Christie and Dan Murtaugh
    Bloomberg article so link only My notes and highlights below
  • Summer average gasoline price expected to be close to last year's level

    04/09/2014 1:21:20 PM PDT · by thackney · 20 replies
    Energy Information Administration ^ | APRIL 9, 2014 | Energy Information Administration
    Drivers are expected to pay an average $3.57 per gallon for regular gasoline this summer, close to last year's level, according to the U.S. Energy Information Administration's April Short-Term Energy and Summer Fuels Outlook. The price for Brent crude oil—which typically accounts for about two-thirds of the retail price of gasoline—is expected to average $105 per barrel this summer driving season (April through September), which is about $2 below its level last summer. However, the benefit of lower crude oil prices is expected to be almost fully offset by higher wholesale margins compared to last summer, although expected wholesale margins...
  • IRS Puts Damper On Newer Types Of Energy Partnerships

    04/09/2014 10:31:03 AM PDT · by thackney · 4 replies
    Reuters via Rig Zone ^ | April 09, 2014 | Patrick Temple West; Editing by Terry Wade, Meredith Mazzilli and Ken Wills
    The Internal Revenue Service has temporarily stopped issuing private letter rulings (PLRs) that energy companies sometimes request when setting up master limited partnerships for their tax benefits. Lawyers specializing in the oil and gas sector have said the IRS wants to review the scope of assets that can qualify as tax-free for master limited partnerships (MLPs), which have lured hundreds of billions of dollars from investors seeking high yields. "There has been a pause," IRS Commissioner John Koskinen told reporters on Tuesday at a congressional hearing. He did not say how long the delay would last. "(The pause) is to...
  • Feds fine oil company for failing to report production

    04/09/2014 8:38:06 AM PDT · by thackney · 5 replies
    Fuel Fix ^ | April 9, 2014 | Associated Press
    The federal government is fining an Artesia oil man more than $700,000 for failing to submit reports on production on its federal leases in New Mexico. The Department of the Interior’s Office of Natural Resources Revenue said Tuesday it has assessed Louis Fulton, doing business as C.F.M. Oil Company, a $717,136 civil penalty.
  • General Electric funneling billions into new energy infrastructure

    04/09/2014 8:28:32 AM PDT · by thackney · 9 replies
    Fuel Fix ^ | April 9, 2014 | Collin Eaton
    A natural gas pipeline stretching 435 miles across Mexico’s Yucatan Peninsula is just one piece of General Electric’s multibillion-dollar bid to shore up energy infrastructure in North America, where an oil and gas boom has drawn a wave of investments to new pipelines. GE’s energy investing arm has more than $3 billion tied up in 43,500 miles of pipeline, the largest U.S. liquefied natural gas export facility and other energy transportation and storage ventures. But it has started to shift its attention to early-stage ventures as U.S. and Canadian pipeline operators collect billions for new projects that link remote shale...
  • Oil companies pay $630M in Pennsylvania drilling fees

    04/09/2014 5:35:05 AM PDT · by thackney · 11 replies
    Fuel Fix ^ | April 8, 2014 | Collin Eaton
    Anadarko Petroleum, Chesapeake Energy and others will pay the state of Pennsylvania about $225 million in fees this year for drilling in the gas-rich Marcellus Shale — too little, according to critics of the state law setting the fee say. The fees, enacted in 2012, flow to local governments to fund basic needs like bridges, roads, firefighting equipment and environmental programs. By the end of the year, the recurring charges on nearly 6,500 natural gas wells will have brought more than $630 million to state coffers. “We are building a stronger Pennsylvania by harnessing our abundant resources to create jobs...
  • Half of power plant capacity additions in 2013 came from natural gas

    04/08/2014 6:52:57 AM PDT · by thackney · 7 replies
    Energy Information Administration ^ | APRIL 8, 2014 | Energy Information Administration
    Natural gas-fired power plants accounted for just over 50% of new utility-scale generating capacity added in 2013. Solar provided nearly 22%, a jump up from less than 6% in 2012. Coal provided 11% and wind nearly 8%. Almost half of all capacity added in 2013 was located in California. In total, a little over 13,500 megawatts (MW) of new capacity was added in 2013, less than half the capacity added in 2012. Natural gas. Natural gas capacity additions were less than in 2012, as 6,861 MW were added in 2013, compared to 9,210 MW in 2012. The capacity additions came...
  • Here's Why Warren Buffett and General Electric Are Betting Big on Natural Gas

    04/07/2014 5:33:14 AM PDT · by thackney · 7 replies
    Motley Fool ^ | March 30, 2014 | Jason Hall
    "Our confidence is justified both by our past experience and by the knowledge that society will forever need massive investments in both transportation and energy." -- Warren Buffett, 2013 letter to Berkshire Hathaway shareholders According to the company's most recent fact sheet, Berkshire Hathaway subsidiary BNSF Railways ships enough coal every year to power 10% of America's houses, and enough crude oil to fill the gas tanks of nearly 650,000 cars every day. Transporting energy is pretty important to BNSF, and BNSF is pretty important to Berkshire, having generated some $3.8 billion in net income in 2013. At the same...
  • Gas boom creates chemical bond between Gulf Coast, foreign firms

    04/07/2014 5:26:04 AM PDT · by thackney · 4 replies
    Fuel Fix ^ | April 6, 2014 | Emily Pickrell
    Foreign companies are making big bets on the Gulf Coast petrochemical corridor, where capital investment is surging because of cheap U.S. natural gas, other lower costs and the existing industry infrastructure. Domestic natural gas and its byproducts including ethane — a building block petrochemical companies use to make plastics and other materials — are low-priced relative to most of the world because of the surge in oil and gas production from U.S. shale plays. The bargain-rate raw material has caused a stampede of recent international investment along the Gulf Coast in Louisiana and Texas, the center of the U.S. petrochemical...
  • Why you shouldn’t bet on higher natural gas prices

    04/06/2014 5:53:39 PM PDT · by thackney · 30 replies
    Stockhouse ^ | April 2, 2014 | Matt Badiali
    In January, 40% of natural gas production in North Dakota went to waste. You read that right. 400 million cubic feet of natural gas was lit on fire and burnt. But that's peanuts compared to how much total natural gas goes to waste every year in the U.S. And it's why I see natural gas prices being low this year... Longtime Growth Stock Wire readers know about the U.S.'s booming oil production in shales like North Dakota's Bakken and Texas' Eagle Ford and Permian Basin. Natural gas is a byproduct of oil production... And the shale plays are producing more...
  • Opponents of natural-gas exports have it all wrong

    04/05/2014 6:20:53 PM PDT · by thackney · 35 replies
    MarketWatch ^ | April 4, 2014 | Diana Furchtgott-Roth
    Opinion: 4 reasons why exporting natural gas is the right thing for America Americans opposed to the export of U.S. natural gas give many reasons for their position. But almost all of them are wrong. The problem is that people underestimate the amount of this country’s natural gas and the potential effect exports could have on the world market. Russia has swallowed parts of Georgia and Ukraine. No one is proposing that America send soldiers to defend those countries, even though we guaranteed Ukraine’s sovereignty in 1994 under the Budapest Memorandum. Instead, we can help our allies by diminishing Russia’s...
  • Net energy imports in 2013 lowest in more than 20 years

    04/02/2014 1:09:41 PM PDT · by thackney · 9 replies
    Energy Information Administration ^ | APRIL 2, 2014 | Energy Information Administration
    Total U.S. net imports of energy, measured in terms of energy content, declined in 2013 to their lowest level in more than two decades. Growth in the production of oil and natural gas displaced imports and supported increased petroleum product exports, driving most of the decline. A large drop in energy imports together with a smaller increase in energy exports led to a 19% decrease in net energy imports from 2012 to 2013. Total energy imports declined faster—down 9% from 2012 to 2013—than in the previous year, while export growth slowed. Crude oil production grew 15%, about the same pace...
  • Report: Condensate could be first crack in oil export ban

    04/02/2014 11:31:58 AM PDT · by thackney · 31 replies
    Fuel Fix ^ | April 2, 2014 | Jennifer A. Dlouhy
    A simple tweak by the Commerce Department would allow the U.S. to begin selling ultralight fossil fuels overseas, a significant first step in easing the 39-year-old ban on crude exports, a new report says. The analysis released by Sen. Lisa Murkowski, R-Alaska, focuses on condensate, a natural gas liquid made up of light fuels such as propane and butane. The fuels generally flow as liquids at normal temperatures even if they’re gas underground. Though it is chemically different than crude, condensate is swept under the oil export ban — at least as long as the light hydrocarbon is coming out...
  • US gasoline prices reach six-month high as ethanol climbs

    04/02/2014 6:58:35 AM PDT · by thackney · 33 replies
    Bloomberg News via Fuel Fix ^ | April 2, 2014 | Barbara Powell
    Link only due to Bloomberg content
  • Texas producing 36 percent of US crude

    04/02/2014 6:55:02 AM PDT · by thackney · 23 replies
    Fuel Fix ^ | April 1, 2014 | Ryan Holeywell
    Texas is producing about 36 percent of the country’s crude oil — three times more than any other state, according to the latest monthly figures from the U.S. Energy Information Administration. Texas pumped nearly 2.9 million barrels of crude daily of the 7.9 million barrels produced nationwide in January, the latest month for which figures are available. The Gulf of Mexico produced about 17 percent, the second-largest portion, followed by North Dakota with about 12 percent of the U.S. crude. California and Alaska rounded out the top five crude-producing areas, each home to about 7 percent of the nation’s oil....
  • ZUBRIN: The folly of blocking natural-gas exports

    04/01/2014 10:39:49 AM PDT · by thackney · 9 replies
    The Washington Times ^ | 3/31/2014 | Robert Zubrin
    The boom in American natural-gas production during the past several years, and the consequent crash of domestic natural-gas prices, has caused many to call for the liberation of U.S. natural-gas exports. The ongoing Russian invasion of the Crimea and threat to the rest of Ukraine has added still greater urgency to these calls, as the need take action to weaken Russian President Vladimir Putin’s natural-gas stranglehold over Europe has become vital. Despite these economic and national security imperatives, there are still those who maintain that allowing American natural-gas producers to export their product would damage the national interest. According to...
  • Study: Gasoline prices will fall if US exports crude

    04/01/2014 5:08:21 AM PDT · by thackney · 44 replies
    Fuel Fix ^ | March 31, 2014 | Jennifer A. Dlouhy
    The oil industry’s leading trade group on Monday cast exports of U.S. crude as an economic win for consumers, fighting against criticism that selling the fossil fuel overseas would mean higher prices at home. The American Petroleum Institute commissioned a study by ICF International and EnSys Energy predicting lower gasoline prices, domestic job growth and other economic benefits if the United States lifts its 39-year-old ban on exporting U.S. crude. “Consumers are among the first to benefit from free trade, and crude oil is no exception,” said API Vice President Kyle Isakower told reporters in a conference call Monday. “Gasoline...