Free Republic

Bloomberg - link only http://gcaptain.com/trump-said-order-oil-drilling-study-off-california-coast/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Gcaptain+%28gCaptain.com%29

The U.S. Department of Energy has signed an order authorizing Golden Pass Products to export domestically produced LNG to countries that do not have a free trade agreement with the U.S. Golden Pass is jointly owned by Qatar Petroleum (70 percent) and ExxonMobil (30 percent). The authorization allows for the export of up to the equivalent of 2.21 billion cubic feet of LNG per day (Bcf/d) from the Golden Pass Terminal near Sabine Pass, in Jefferson County, Texas. Golden Pass estimates the construction of its facility will provide 45,000 direct and indirect jobs over five years, and the project will...

A top adviser to President Donald Trump on Thursday appeared to throw the administration’s support behind a proposed controversial liquefied national gas terminal in Oregon that had been rejected by regulators during the Obama administration. “The first thing we’re going to do is we’re going to permit an LNG export facility in the Northwest,” said Gary Cohn, chair of the White House National Economic Council. “Just think of the transport time from the Northwest to Japan versus anywhere else. Then we’ve got to put facilities on the East Coast to get from the East Coast to Germany.” “The one place...

Saudi Arabia will start reviewing a number of multi-billion-dollar infrastructure and development project—remnants from a better past when crude oil prices were in three-digit territory. Some of these, according to government sources, will be shelved and others will be restructured. The review is part of urgent reforms prompted by the oil price rout from 2014, which saw Saudi Arabia plunge into a budget deficit for the first time in its history. As part of efforts to reform the oil-reliant economy, last year Deputy Crown Prince Mohammed bin Salman removed from their positions the Kingdom’s long-serving oil and finance ministers, Ali...

Over the past year oil companies have discovered five billion barrels or more of recoverable oil on Alaska’s North Slope*******************************INteractive chart****************************Varios prices by trading time. of day***************************************************Fracking has been utilized in Alaska since the 1980s, but on a small scale. An earlier version said this would be the first time fracking is used in Alaska.************************ Arctic lands and waters hold irresistible allure for global oil companies. Despite opposition from environmental groups and President Obama’s 2016 ban on drilling in federal Arctic waters, exploration in Alaska has revealed massive new volumes of oil.This comes at a time of low oil prices...

The White House is readying an executive order that aims to open up new areas of the Atlantic and Arctic oceans to offshore oil and gas drilling, according to multiple individuals briefed on the proposal. The White House is considering issuing instructions to the Interior Department to reverse President Barack Obama’s withdrawal of hundreds of millions of offshore acres from future drilling in December 2016. The executive order -- which could come out in the next few weeks -- represents President Donald Trump’s latest attempt to promote domestic energy exploration by rolling back restrictions put in place by previous administrations,...

The Trump administration is developing an order to open new areas to offshore oil and gas drilling, reversing former President Barack Obama’s unilateral decision to lock up most of the Arctic and Atlantic oceans, according to industry sources. Secretary of the Interior Ryan Zinke told industry representatives the new drilling plan would be signed soon, according to Bloomberg. However, he gave few details on what the order could include. The Department of the Interior’s (DOI) new five-year offshore drilling plan could take years to develop and would replace the Obama administration’s five-year plan finalized in November. President Donald Trump promised...

OSLO, Norway – Recent research from Rystad Energy shows that oilfield service companies should begin recruiting later this year following the significant workforce reduction in the industry throughout 2014 to 2016. Service companies working within the shale sector are already starting to recruit again, the analyst firm said, after the top four service companies, all of which were exposed to the US land market, were forced to lay off between 30-40% of their workforce. Rystad found that companies exposed to more of the international market have cut more modestly, in the range of 20-30%. “Among the top 50 service companies,...

On Tuesday, President Trump will announce new executive orders that target EPA regulations that hindered electricity production in the United States. The regulations were created by the Obama administration as part of an anti-fossil fuel strategy to combat global warming. With the installation of a new EPA chief, Scott Priutt - a confirmed global warming skeptic - the electricity production sector of the economy is about to receive a much needed shot in the arm. Pruitt says that the White House plan is both "pro-jobs and pro-environment" and, unlike the Obama plan, will not be "tethered" to the Paris Climate...

Oil fell as a U.S. drilling revival undermines the potential for OPEC output curbs to rebalance the market. Futures dropped as much as 1.9 percent in New York. Saudi Arabian Energy Minister Khalid Al-Falih said on March 16 that the kingdom may extend its cuts if supplies stay above the five-year average. A day later, though, data showed the U.S. rig count growing for a ninth week, and a Libya official said Sunday that the Es Sider and Ras Lanuf ports are preparing to restart oil exports.

President Donald Trump as a candidate promised to unshackle the American energy industry by undoing most of the job killing regulations created by the Obama administration. In a court filing, Justice Department lawyers revealed that the new administration is planning to repeal the Obama hydraulic fracturing rule, that placed severe restrictions on the process of getting oil and natural gas from shale. Earlier yesterday, the administration said they would roll back some of the automobile emissions standards and curtail other Obama administration environmental rules on water and coal leasing.

The Trump administration is rolling back an Obama administration rule requiring companies that drill for oil and natural gas on federal lands to disclose chemicals used in hydraulic fracturing, better known as fracking. The administration said in court papers Wednesday that it is withdrawing from a lawsuit challenging the Obama-era rule and will begin a new rule-making process later this year. The Interior Department issued the rule in March 2015, the first major federal regulation of fracking, the controversial drilling technique that has sparked an ongoing boom in natural gas production but raised widespread concerns about possible groundwater contamination and...

Still, some of the degradation in the process left behind by Barack Obama could be cleaned up fairly quickly. One aspect of that is found in the scheduling of new leases for drilling. (Bloomberg) Senator Lisa Murkowski said President Donald Trump is interested in opening up new coastal waters for oil and gas drilling and reversing Obama-era policies that restrict energy development in Alaska. Both Trump and Interior Secretary Ryan Zinke are weighing ways to expand opportunities to drill in Arctic waters though the changes could take years to accomplish administratively, Murkowski said in an interview on the sidelines of...

Some 1.2 billion barrels of oil have been discovered in Alaska, marking the biggest onshore discovery in the U.S. in three decades. The massive find of conventional oil on state land could bring relief to budget pains in Alaska brought on by slumping production in the state and the crash in oil prices. The new discovery was made in just the past few days in Alaska’s North Slope, which was previously viewed as an aging oil basin. Spanish oil giant Repsol and its privately-held U.S. partner Armstrong Energy announced the find on Thursday, predicting production could begin as soon as...

The of oil is down, from $53 on 7 March, to a bit above $48 today. This, going into the summer driving season.

In a rather unconventional warning, Continental Resources chief executive Harold Hamm said on Wednesday that should the U.S. oil industry embark on another spending spree, it could “kill” the market. Speaking at the CERAWeek conference in Houston – one of the largest gatherings of oil executives and ministers, including this year Saudi Arabia’s oil minister Khalid Al-Falih – Hamm said that U.S. crude oil output “could go pretty high”. But Hamm was quick to add, as quoted by Bloomberg: “But it’s going to have to be done in a measured way, or else we kill the market.”

The Department of the Interior will include “all available” federal waters in the Gulf of Mexico that have not already been leased out for offshore oil drilling. Interior Secretary Ryan Zinke announced Monday 73 million acres off the coast of Texas, Louisiana, Mississippi, Alabama, and Florida would be offered at a lease sale in August as part of the Interior Department’s five-year leasing plan. “Opening more federal lands and waters to oil and gas drilling is a pillar of President Trump’s plan to make the United States energy independent,” Zinke said in a statement. Interior finalized its current five-year offshore...

President Trump on Monday hailed oil giant Exxon Mobil Corp.’s announcement of a major jobs and manufacturing plan for Texas and Louisiana. Exxon said it has embarked on a $20 billion plan to build or update manufacturing and refining facilities on the Gulf Coast, something the company predicts will create 45,000 news jobs. In a statement, Trump said that is “is exactly the kind of investment, economic development and job creation that will help put Americans back to work.” “Many of the products that will be manufactured here in the United States by American workers will be exported to other...

Oil is more plentiful than you can imagine. And we keep figuring out easier and more economical ways to get it out of the ground. In 1938, the famous geologist M. King Hubbert came up with the concept of peak oil, which is defined as having extracted half of the recoverable, conventional oil reserves. After that, oil production declines and cannot keep up with growing demand as the population continues to rise. In Hubbert’s time, most of the conventional oil reserves had already been discovered. Hubbert went on to predict that U.S. production would peak in 1969, and it did...

Headline you don't see too many places: U.S. oil exports are blowing past expectations That's from Mike Allen's pretty good new news site, Axios, which is fast becoming one of my favorites. The U.S. is blowing away OPEC and other petrotyrant states with a stunning upsurge in oil sales abroad. Up until December 2015, oil exports weren't even legal from the states. Thirteen months later, we are conquering the market and becoming the Big Dog through our energy companies' rising production, eclipsing every petrotyrant this side of Hugo Chavez. Get a load of the chart from Forbes. Which reminds...