Keyword: energy

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  • Earthquakes Cause Giant Natural Gas Field To Cut Production By 44%

    06/29/2016 7:20:22 PM PDT · by Lorianne · 11 replies
    Oil Price ^ | 27 June 2016 | Dave Forest
    Europe just lost a big chunk of production from one of its most critical natural gas fields, and not for any of the usual reasons — technical problems, pipeline constraints, or terrorist disruptions. These cuts are due to earthquakes. The development came at the Groningen natgas field in the Netherlands. The largest producing field in Western Europe — and one of the world’s top 10 gas fields by size. Groningen’s massive size has been an issue lately though, with drawdown from the field having caused seismic events in the areas above and surrounding the field. Such concerns prompted the Dutch...
  • Texas drillers may start hiring soon, as long as prices hold up

    06/28/2016 2:26:01 PM PDT · by 2ndDivisionVet · 4 replies
    Fuel Fix ^ | June 28, 2016 | Collin Eaton
    HOUSTON – Rising crude prices could spur hiring across the Texas oil patch by August, a regional economist says, beginning a slow but steady reversal in the state’s energy employment after struggling drillers shed 1 in 3 jobs. Over the past two months, a dozen U.S. oil companies — including Devon Energy and Pioneer Natural Resources — have announced plans to plow an extra $600 million into their shale fields in Texas and elsewhere as crude prices hover near $50 a barrel. Several have dispatched new rigs and received drilling permits. Next, they’ll start hiring new people – unless, of...
  • Diablo Canyon Closure Has a Crony Problem

    06/28/2016 11:53:53 AM PDT · by Sean_Anthony · 9 replies
    Canada Free Press ^ | 06/28/16 | Katy Grimes & Tom Tanton
    Cronyism in Energy Production “Diablo Canyon produces twice as much power as all of California’s solar panels, 24 percent more than all of its wind, and 40 times more than its largest solar farm. Also, Diablo Canyon provides power to 3 million Californians on a patch of land the size of three football fields. Achieving the equivalent from a solar farm would require 145 times more land; from wind, 500 times more.”—Michael Shellenberger, Breakthrough Institute co-founder, and Peter Raven, former Missouri Botanical Gardens head The announcement last week from PG&E that it was closing Diablo Canyon Nuclear Power Plant, rudely...
  • U.S. Shale Producers Just Won Their Biggest Legal Case In Years

    06/27/2016 5:57:33 PM PDT · by 2ndDivisionVet · 5 replies
    Oil Price ^ | June 23, 2016 | Dave Forest
    Fracking is once again becoming a hot topic in the oil and gas world., with Germany moving Tuesday to impose an indefinite ban on the unconventional drilling technique. But in the U.S. this week the story was the opposite. Oil and gas drillers won a critical legal victory over the future of fracking in America’s shale plays. That came in Wyoming, where a District Judge struck down a set of tougher rules on fracking that had been implemented by the U.S. Bureau of Land Management (BLM) early last year. Last March, the BLM came down hard on the U.S. shale...
  • Cuba Struggles as Venezuela Oil Subsidies Dwindle

    06/26/2016 9:07:07 PM PDT · by fella · 19 replies
    panampost.com ^ | 21 June 2016 | Sabrina Martin
    Blackouts on the Island Have Lasted Between Four and Eight Hours Raúl Castro has decided to implement austerity measures in Cuba as the oil the Venezuelan government has been sending over the past years has decreased and is no longer sufficient to cover for public sector expenses. According to news outlet Cubanet, island officials are trying to fight the fuel deficit by reducing consumption of oil and electricity by 20 percent, which means a partial paralyzing of production. “ The measure has starting to circulate this week in the ministeries and companies linked to production. The measures have included …...
  • The PBOC just fixed the yuan at its weakest level since December 2010

    06/26/2016 6:28:37 PM PDT · by ameribbean expat · 9 replies
    The People’s Bank of China have set the USD/CNY fixing for Monday at 6.6375, some 0.9% weaker than Friday’s fixing level of 6.5776. The figure, well above Friday’s close of 6.6150, was the weakest fixing level seen since December 2010.
  • Ankara's "Economic Miracle" Collapses Changes in Turkey

    12/22/2011 9:50:34 AM PST · by bayouranger · 10 replies
    meforum.org ^ | 12-21-11 | David P. Goldman
    Turkey's high-flying economy, which expanded at a 10 percent annual rate of gross domestic product growth during the first half of 2011,[1] will crash-land in 2012. Prime Minister Recep Tayyip ErdoÄŸan's "economic miracle," to use the Daily Telegraph's admiring words,[2] depended on a 40 percent annual rate of bank credit expansion, which in turn produced a balance of payments deficit as wide as that of southern Europe's crisis countries. Markets have already anticipated a sudden turnaround in the Turkish economy. The Turkish lira (TRY) fell by a quarter between November 2010 and September 2011, making it the world's worst performing...
  • Turkey signs deal with Turkish Cyprus on gas exploration, expands sea borders

    09/27/2011 8:08:19 PM PDT · by SunkenCiv · 8 replies
    National Turk ^ | Thursday, September 22, 2011 | unattributed
    Turkey and Turkish Cyprus signed a deal on Wednesday in New York to establish a ground for offshore gas exploration in a move set to escalate the already high regional tensions over Mediterranean energy reserves and border issues. On Tuesday, the Greek Cypriot administration confirmed that drilling had begun in a southeastern offshore block, adjoining a gas field in Israeli waters reputed to be the world's largest gas reserves find of the past decade. With the latest agreement the ethnic Turkish northern half of Cyprus, Turkish Republic of Northern Cyprus, marked its marine borders with Turkey and will issue licenses...
  • Russia Sends Nuclear Submarines To Patrol Cyprus (Turkey) Waters - Report

    09/18/2011 8:35:13 AM PDT · by Fennie · 14 replies
    Cyprus News Report ^ | August 25, 2011 | Sarah Fenwick
    Russia has sent two nuclear-powered submarines to patrol Eastern Mediterranean waters around Cyprus and enforce the island's right to explore for undersea oil and gas in its territorial seas, according to information from Defencenet.gr, citing a Russian FM spokesman.
  • The Eastern Mediterranean Sea is Starting to Get Crowded

    09/15/2011 10:47:51 AM PDT · by jhpigott · 12 replies
    As regional powers attempt to rise, other regional powers will react. This is particularly true in this era of globalization. Turkey is now riding a learning curve. Here is how the latest is unfolding. Turkey warned Thursday it will declare a border on the continental shelf if the island of Cyprus proceeds with offshore oil and gas drilling activities. The Foreign Ministry's announcement came a day after Cyprus President Dimitris Christofias announced that U.S. firm Noble Energy will soon begin exploratory drilling to confirm deposits beneath the sea bed off Cyprus' southern coast despite Turkey's attempts to prevent such a...
  • Turkish PM says Syrian leader overshadowed his legitimacy

    09/12/2011 5:30:18 PM PDT · by SunkenCiv · 7 replies
    World Bulletin Net ^ | Monday, September 12, 2011 | unattributed
    Turkish Prime Minister Recep Tayyip Erdogan has said that Syrian President Bashar al-Assad overshadowed his legitimacy. In a televised interview with the Al-Jazeera, Prime Minister Erdogan said, "when we came to the political power nine years ago, there was a 30-year resentment between Turkey and Syria. We made great efforts to improve relations with Syria with which we share 910 kilometres of border. We always proposed al-Assad to release political prisoners, make constitutional amendments and start multiparty system. Unfortunately, none of these reforms were made. I paid a visit to Aleppo earlier this year. I told al-Assad that we were...
  • Putin to Take Concrete Steps to Support Turkish Cyprus

    07/19/2005 2:14:40 PM PDT · by Tailgunner Joe · 12 replies · 304+ views
    Zaman ^ | July 20, 2005 | Mirza Cetinkaya
    Russian President Vladimir Putin said economic isolation of the Turkish Republic of Northern Cyprus (TRNC) should be ended. Putin has signaled for concrete steps to be taken in this regard. Russian President hosting Turkish Prime Minister Recep Tayyip Erdogan as an "honorary guest" in the Russian Black Sea resort of Sochi noted, the "meaningless" embargo imposed on TRNC must be lifted and his country will have direct contacts with both the Turkish and Greek Cypriot societies on the island. The two leaders emphasized their opinions overlapped on many issues. "The first thing we must do is to solve the problem...
  • Germany makes fracking verboten

    06/25/2016 8:25:06 PM PDT · by Olog-hai · 45 replies
    TheLocal.de ^ | 24 Jun 2016 15:03 GMT+02:00 | (AFP)
    German lawmakers approved a law that essentially bans fracking, ending years of dispute over the controversial technology to release oil and gas locked deep underground. The text approved on Friday does not outlaw conventional drilling for oil and gas, but leaves it up to state governments to decide on individual cases. But fracking, or hydraulic fracturing, which is carried out by blasting a mixture of water, sand and chemicals underground to release shale oil and gas, will be banned. …
  • TransCanada Formally Seeks NAFTA Damages in Keystone XL Rejection

    06/25/2016 4:56:57 PM PDT · by smokingfrog · 13 replies
    Reuters ^ | 6-25-16 | staff
    TransCanada Corp is formally requesting arbitration over U.S. President Barack Obama’s rejection of the Keystone XL pipeline, seeking $15 billion in damages, the company said in legal papers dated Friday. TransCanada submitted a notice for an arbitration claim in January and had then tried to negotiate with the U.S. government to “reach an amicable settlement,” the company said in files posted on the pipeline’s website. “Unfortunately, the parties were unable to settle the dispute.” TransCanada said it then filed its formal arbitration request under North American Free Trade Agreement (NAFTA) provisions, seeking to recover what it says are costs and...
  • Exxon Refuses To Bow Down To The Climate Fascists

    06/25/2016 10:10:23 AM PDT · by rktman · 31 replies
    capitalismmagazine.com ^ | 6/21/2016 | Jaana Woiceshyn
    Many oil companies succumb to the pressure from environmental activists and the media and join the fight against ‘climate change,’ or at least make motions to appear to do so. Not Exxon Mobil. In a previous column, I applauded CEO Rex Tillerson for refusing to climb on the climate change band wagon and for focusing on producing energy from fossil fuels—on which all of us depend—instead. Tillerson and Exxon have not lost their integrity: they are steadfastly holding on to the principles they know their existence and successful value creation depend on, such as the right to liberty, and more...
  • Jerry Brown’s vow to slash oil use in California’s cars in trouble

    06/22/2016 12:20:04 PM PDT · by Mariner · 26 replies
    The Sacramento Bee ^ | June 22nd, 2016 | By Dan Walters
    The meltdown of California’s cap-and-trade system of reducing carbon emissions has not only thrown its climate change crusade into disarray but caused collateral damage. One victim is Gov. Jerry Brown’s $3.1 billion plan to spend auction proceeds, now on indefinite hold. It not only affects a $500 million allocation for Brown’s bullet train project, but another $500 million for “low carbon transportation and fuels.” The latter is a centerpiece of Brown’s very ambitious drive to reduce petroleum use in auto travel – the largest single source of California’s carbon emissions – by 50 percent by 2030 even though the Legislature...
  • Obama administration’s fracking rules struck down by federal judge

    06/21/2016 8:13:11 PM PDT · by jazusamo · 16 replies
    The Washington Times ^ | June 21, 2016 | Victor Morton
    In the latest rebuke of the Obama administration’s expansive view of executive power, a federal judge has struck down the Interior Department’s effort to regulate fracking for oil and natural gas. Judge Scott Skavdahl of the District Court of Wyoming already had put a hold on the regulations last year, and in a decision released late Tuesday, he ruled that Congress did not give Interior the power to regulate hydraulic fracturing, indeed it had expressly withheld that power with some narrow exceptions.
  • Blackouts Loom With California In Power Grid Emergency: "Customers Should Expect 14 Days Without..."

    06/21/2016 1:33:29 PM PDT · by Zakeet · 73 replies
    ZeroHedge ^ | June 20, 2016
    The entire Los Angeles metropolitan area and most of Southern California can expect blackouts this summer. The power grid is under direct threat as a result of the unprecedented, but little reported, massive natural gas leaks at Alisco Canyon that was ongoing for four months as an intense summer heat wave sets in. According to Reuters: California will have its first test of plans to keep the lights on this summer… With record-setting heat and air conditioning demand expected in Southern California, the state’s power grid operator issued a so-called "flex alert," urging consumers to conserve energy to help prevent...
  • Get Ready to March For … Nuclear Energy? (San Francisco)

    06/21/2016 2:26:50 PM PDT · by nickcarraway · 8 replies
    SF Weekly ^ | Tue, Jun 21, 2016 | Max DeNike
    March for Environmental Hope A real thing, Jimmy. If truth is stranger than fiction, it should come as no surprise that Friday marks the start of the first-ever pro-nuclear power march — probably in world history — and it all starts in San Francisco. The March for Environmental Hope, a four-day trek from the City by the Bay to Sacramento, is being pitched as a family-friendly event — and in this case that means more than funnel cakes and bounce houses. Organizers are hoping to tug on the collective heart strings of America by making this about the children, as...
  • Pro-Nuclear March In San Francisco To Protest Closing Of Diablo Canyon Nuclear Plant

    06/21/2016 2:26:48 PM PDT · by Innovative · 18 replies
    Forbes ^ | June 21, 2016 | James Conca
    Now that many environmentalists and climate scientists have realized that nuclear energy is essential for addressing global warming, a coalition of environmental groups is sponsoring a multi-day March for Environmental Hope in California in support of nuclear power
  • Fusion megaproject confirms 5-year delay, trims costs

    06/18/2016 5:58:51 PM PDT · by 2ndDivisionVet · 20 replies
    Science ^ | June 16, 2016 | Daniel Clery
    The ITER fusion reactor will fire up for the first time in December 2025, the €18-billion project’s governing council confirmed today. The date for “first plasma” is 5 years later than under the old schedule, and to get there the council is asking the project partners—China, the European Union, India, Japan, Russia, South Korea, and the United States—to cough up an extra €4 billion ($4.5 billion). “It is expected, if there are no objections, that we can approve [the schedule] by November and then we can move forward,” says ITER director general Bernard Bigot. ITER aims to show that it...
  • Democratic Platform Committee Considers Calling For A Ban On Fracking

    06/17/2016 12:47:02 PM PDT · by Helicondelta · 11 replies
    hotair.com ^ | June 17, 2016
    One of the lingering fights between Hillary Clinton and Bernie Sanders is over whether to ban fracking or simply regulate it more heavily. The Hill reports that fight is now continuing as the Democratic platform committee debates the party’s approach to energy: “I think it could be a tension point, but I think it’s a good tension point,” said Friends of the Earth President Erich Pica, who will testify before the committee this week.
  • NorthWestern Energy wants to pay less for solar power (MT)

    06/15/2016 2:56:19 PM PDT · by This_far · 12 replies
    The Montana Standard ^ | 6.16 | TOM LUTEY
    NorthWestern Energy is asking Montana to pull the plug on solar projects, at least until the utility can get better terms from the state on ones it legally can’t refuse. The utility, which provides electricity to half of Montana, told Montana’s Public Service Commission on June 9 that the mandated price it must pay to small commercial solar projects of 3 megawatts or less is too high and hurting consumers. The projects, known as qualifying facilities, or QFs have been popping up like dandelions because Montana’s guaranteed rate is too generous, according to the utility.
  • Putin Has Imperial (Not Soviet) Aspirations

    06/13/2016 8:14:47 AM PDT · by milton23 · 44 replies
    The Daily Signal ^ | 6/13/2016 | Luke Coffey
    Whoever wins the race to the White House is going to have to deal with Russian President Vladimir Putin from day one. Hopefully, the next U.S. president will learn from the mistakes of the past. One of the biggest foreign policy follies of the Obama administration was the so-called Russian “reset”. In March 2009 Hillary Clinton and her Russian counterpart Sergey Lavrov symbolically, if not awkwardly, pressed a “reset” button—to demonstrate a fresh start to U.S.-Russian relations.
  • “Islamic Refugee” With Gas Pipeline Plans Arrested in New Mexico Border County

    06/15/2016 10:51:30 AM PDT · by jazusamo · 57 replies
    Judicial Watch ^ | June 15, 2016
    Police in a U.S. town bordering Mexico have apprehended an undocumented, Middle Eastern woman in possession of the region’s gas pipeline plans, law enforcement sources tell Judicial Watch. Authorities describe the woman as an “Islamic refugee” pulled over during a traffic stop by a deputy sheriff in Luna County, New Mexico which shares a 54-mile border with Mexico. County authorities alerted the U.S. Border Patrol and the Federal Bureau of Investigation’s (FBI) Joint Terrorism Task Forces (JTTF) has been deployed to the area to investigate, sources with firsthand knowledge of the probe confirm. The gas pipeline plans in the woman’s...
  • Nuclear power ‘far from dead’ as U.S. sees startup of first reactor in 20 years

    06/15/2016 10:36:50 AM PDT · by Ernest_at_the_Beach · 25 replies
    marketwatch.com ^ | June 14, 2016 4:32 p.m. ET | Myra P. Saefong
    Launch unlikely to boost uranium prices in near term************************************************ The U.S. saw a nuclear reactor come online this month for the first time in 20 years, and more are set to follow—proving that nuclear power is alive and well in a post-Fukushima disaster world.
  • Uranium Prices Set To Double By 2018

    06/15/2016 8:14:16 AM PDT · by bananaman22 · 7 replies
    Oilprice.com ^ | 15-06-2015 | James
    With prices set to double by 2018, we’ve seen the bottom of the uranium market, and the negative sentiment that has followed this resource around despite strong fundamentals, is starting to change. Billionaire investors sense it, and they’re always the first to anticipate change and take advantage of the rally before it becomes a reality. The turning point is where all the money is made, and there are plenty of indications that the uranium recovery is already underway. It’s been a very tough few years for uranium. But it now looks like we’ve reached the bottom, and the future demand...
  • Rigs returning to service in North Dakota

    06/14/2016 8:03:08 PM PDT · by 2ndDivisionVet · 1 replies
    United Press International ^ | June 13, 2016 | Daniel J. Graeber
    BISMARCK, N.D., June 13 (UPI) -- With a gain of three, the number of rigs actively exploring for or producing oil and natural gas in North Dakota is up 12 percent from last week, data show. Data from North Dakota's government show 28 rigs in active service as of Monday, up from the 25 reported one week ago. Rig counts serve as a barometer for the health of the oil and gas industry as oil prices in part determine how much companies are investing in exploration and production. Though at times above the $50 mark in recent sessions, last week...
  • Aussie scientists salt electrodes in lithium battery breakthrough

    06/14/2016 4:35:49 PM PDT · by Utilizer · 22 replies
    iTnews (.com.au) ^ | Jun 14 2016 9:00AM (AUS) | Juha Saarinen
    An Australian research project has devised a way to use salt baths to boost battery life while improving performance and safety, offering the potential to create long-lasting energy storage for electric cars and electronic devices. Researchers from the CSIRO, RMIT and the Queensland University of Technology found that a simple salt bath improved the performance of lithium batteries considerably. Researchers Dr Adam Best, Dr Anand Bhatt and doctoral candidate Andrew Basile discovered that treating electrodes in a bath containing ionic liquids and lithium salts reduced the breakdown of the battery electrolyte during operation. Basile told iTnews the treatment provided several...
  • Sweden to cut taxes on nuclear power generation

    06/13/2016 2:08:58 PM PDT · by Lorianne · 3 replies
    Reuters ^ | 10 June 2016
    Sweden said on Friday it would phase out some taxes on nuclear power and build new reactors to replace aging plants and secure energy supplies for decades to come. Nuclear power providers in Sweden have said they would be forced to shut the country's loss-making nuclear reactors unless a tax on nuclear capacity is abolished, risking a spike in electricity prices and energy shortages for industry. "The aim is ... to make sure we can always guarantee electricity at competitive prices, in a stable and sustainable way, both in the short and long term," Energy Minister Ibrahim Baylan told reporters....
  • The left’s grand, green vision

    06/12/2016 3:55:48 PM PDT · by Tolerance Sucks Rocks · 10 replies
    The Washington Times ^ | June 5, 2016 | Stephen Moore
    Like a crazed serial killer, the liberal green groups are celebrating their “victory” of putting America’s major coal producers out of business — to say nothing of the tens of thousands of miners placed in unemployment lines. Several thousand more mining jobs were lost last month. Now to get their next homicidal high, the leftists have turned their ambitions on the oil and natural gas industries. Here is how the Sierra Club spokeswoman, Lena Moffit, explains the grand, green vision: “We have moved to a very clear and firm and vehement position of opposing gas. We oppose any new gas-fired...
  • 'Leave' Takes Shocking 19-Point Lead In Brexit Poll

    06/12/2016 10:33:16 AM PDT · by lafroste · 41 replies
    Zero Hedge ^ | 6/12/16 | Tyler Durden
    The headlines go from bad to worse for the UK and EU establishment as yet another new poll this weekend, by Opinium, shows "Brexit" leading by a remarkable 19 points (52% chose to leave the EU against 33% choosing to keep the status quo). This result comes after 2 polls Friday night showing a 10-point lead for "leave" which sparked anxiety across markets. This surge in "leave" probability comes despite an additional 1.5 million voters having registered this week (which many expected to increase "remain" support). Further anger towards EU was exposed when former cabinet minister Iain Duncan Smith warned...
  • Coal Production Hits 35-Year Low

    06/10/2016 12:59:52 PM PDT · by PROCON · 12 replies
    oilandgas360.com ^ | June 10, 2016
    Coal production in the first three months of 2016 was 173 million short tons, the lowest quarterly level in the United States since a major coal strike in the second quarter of 1981. Among the regions tracked by the EIA, the Powder River Basin (PBR) in Montana and Wyoming saw the largest decline both in terms of absolute tonnage and as a percentage of the previous quarter.Demand for coal has dropped off steeply as natural gas becomes the primary fuel source for electrical generation. Electricity generation accounts for more than 90% of domestic coal use, but environmental regulations have caused...
  • No Shell game: this cracker plant will deliver (Pennsylvania)

    06/09/2016 6:51:32 PM PDT · by 2ndDivisionVet · 12 replies
    The Pittsburgh Post-Gazette ^ | June 9, 2016 | Brian O'Neill
    When Shell announced Tuesday it had green-lighted its ethane cracker plant in Beaver County, a high school buddy who has been watching the oil industry for decades emailed me from New York. This move “completely, totally, unbelievably turns conventional wisdom of the past 40 years on its head,” John Kingston, director of Global Market Insights for S&P Global, said. “A petrochemical plant in the U.S., and not in Asia? And one not on the Gulf Coast? C’mon, that’s crazy talk!” The announcement does seem a throwback to an earlier time in Western Pennsylvania. We’re talking 6,000 jobs in building the...
  • Wind Turbines Are Killing Birds and Bats

    06/09/2016 5:46:56 PM PDT · by Sean_Anthony · 15 replies
    Canada Free Press ^ | 06/09/16 | DR. Ileana Johnson Paugh
    While millions of birds and bats are dying needlessly, wind and solar power inconsistent energy production cannot replace coal. The world’s economy needs fossil fuels, nuclear energy, and hydro-power that provide a constant source of electricity I saw the once verdant wheat fields of Eastern Europe covered with ugly wind turbines, slowly spinning their huge blades into the wind. A few funnel dust swirls were blowing the topsoil into the air. They did not appear to be connected to any storage station that would distribute the electrical power generated. I searched and found out that they were really not connected...
  • Panama Canal is a big deal again. (Carter gave it away in 1977)

    06/09/2016 1:37:41 PM PDT · by Memphis Moe · 47 replies
    CNBC | 5/9/2016 | Memphis Moe
    "A century after transforming global trade and markets, the Panama Canal is about to revamp world trade once again. On June 26 the canal is scheduled to reopen after a massive project costing more than $5 billion that will allow bigger ships to pass through the 102-year-old waterway, doubling cargo capacity. U.S.-based businesses are recognizing the new growth opportunities. Many logistics experts predict the expansion of the so-called Panamex may shift international trade routes, allowing ships to reach Asia from the U.S. Gulf Coast more than two weeks faster than going east through the Suez Canal." Excerpt; full story at...
  • Colorado Has 40 Times More Natural Gas Than Once Believed

    06/09/2016 1:16:16 PM PDT · by smokingfrog · 35 replies
    Daily Caller ^ | 6-9-16 | Chris White
    U.S. Geological Survey (USGS) officials said Wednesday that western Colorado has upwards of 40 times more natural gas than previously believed, making it the second largest natural gas producing formation in the U.S. The Mancos Shale formation in Colorado’s Piceance Basin, located in the western section of Colorado, nestles nearly 70 trillion (66.3 trillion) cubic feet of gas. This marks a massive uptick from the 1.6 trillion cubic feet estimated in 2003, research shows. A trillion cubic feet of natural gas, according to the U.S. Energy Department, is enough to heat 15 million homes for a year — 66. 3...
  • 'There is no money left, bye!': Russian PM causes social media storm

    06/09/2016 12:16:09 PM PDT · by SaveFerris · 15 replies
    Yahooooo ^ | June 9, 2016 | CNBC
    Russian Prime Minister Dmitriy Medvedev has whipped up a storm on Russian social media for an off-the-cuff comment he made to a Russian pensioner last month. Medvedev was caught on camera telling an elderly woman in Crimea, a region annexed by Russia from Ukraine in spring 2014, that there was "no money left" in Russia's budget when he was asked why the state pension of 8,000 Russian rubles a month (around $125 a month) was not higher given the rising cost of living. "There just isn't any money now. When we find money, we'll make the adjustment," Medvedev replied to...
  • Aubrey McClendon: No Evidence of Suicide in Death of Indicted Oil Man

    06/09/2016 4:29:04 AM PDT · by Fhios · 8 replies
    NBC ^ | 6/8/2016 | CORKY SIEMASZKO
    The timing of Oklahoma oil man Aubrey McClendon's death by car crash was suspicious, but it doesn't appear to be suicide. Oklahoma City police had been investigating the deadly March 2 wreck that killed McClendon just a day after he was indicted by a federal grand jury for allegedly trying to rig oil prices.
  • Wind Turbines Are Killing Birds and Bats

    06/09/2016 9:25:16 AM PDT · by rktman · 33 replies
    canadafreepress.com ^ | 6/9/2016 | Dr. Ileana Johnson Paugh
    While millions of birds and bats are dying needlessly, wind and solar power inconsistent energy production cannot replace coal. The world’s economy needs fossil fuels, nuclear energy, and hydro-power that provide a constant source of electricity
  • $5 Billion Tesla Gigafactory Worth $50 Billion, Analyst Estimates

    06/07/2016 9:27:59 PM PDT · by 2ndDivisionVet · 25 replies
    Clean Technica ^ | June 6, 2016 | James Ayre
    An analyst at Global Equities Research by the name of Trip Chowdhry has publicly commented that he considers the market value of the Tesla/Panasonic Gigafactory to be $50 billion, according to recent reports. Considering that the projected development costs of the Gigafactory total “only” $5 billion, and also that Tesla’s current market capitalization is around $32 billion, that figure is quite a notable one. Whether one agrees or not, it’s a number that gets one’s attention…. In his denouement on the subject, Chowdhry drew an analogy with Amazon — noting that the company was originally just viewed as being an...
  • Saudi Authorities Panic As Speculators Drive Currency Down

    06/06/2016 1:26:43 PM PDT · by bananaman22 · 19 replies
    Oilprice.com ^ | 06-06-2016 | ZH
    With Saudi Riyal forwards plunging back below 3.81, dramatically weaker than the current peg, Bloomberg reports that Saudi authorities are cracking down on currency traders as speculation mounts that the world’s biggest oil exporter won’t be able to maintain the riyal’s peg to the dollar as revenue plunges. Saudi Arabia ordered banks in the kingdom to stop selling some products that allow speculators to bet against its currency peg just days after demanding information from lenders on the offerings, according to people with knowledge of the matter. The Saudi Arabia Monetary Agency sent a circular to banks this week saying...
  • Saudi central bank bans use of options against riyal: executive

    06/06/2016 1:22:30 PM PDT · by Lorianne · 3 replies
    Reuters ^ | 05 June 2016 | Faisal Al Nasser
    Saudi Arabia's central bank has told banks it is banning the use of options and other derivatives to speculate against the riyal, in a new effort to reduce pressure on its currency peg, a senior executive at a Saudi bank told Reuters on Sunday. The Saudi Arabian Monetary Agency "wants to make sure that there is no snowball effect against the riyal in the forwards markets", the executive said, declining to be named because of commercial sensitivities. "So now banks in the country are banned from accepting any options against the riyal." Non-speculative trade in the riyal forwards market is...
  • England not windy enough, admits wind industry chief

    06/06/2016 1:15:40 PM PDT · by Lorianne · 26 replies
    Telegraph (UK) ^ | 04 June 2016 | Emily Gosden
    England is not windy enough to justify building any more onshore wind turbines, the chief executive of wind industry trade body has admitted. Hugh McNeal, who joined RenewableUK two months ago from the Department of Energy and Climate Change, insisted the industry could make the case for more onshore turbines in some parts of the UK, despite the withdrawal of subsidies. But he said this would “almost certainly” not be in England, as the wind speeds were not high enough to make the projects economically viable without subsidy. Although the Government has implemented its manifesto pledge to end subsidies for...
  • U.S. Crude Exports Hit 96 Year High

    06/06/2016 9:42:03 AM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 06-06-2016 | Zain
    U.S. crude oil exports rose to 591,000 barrels per day in April, up 83,000 barrels from March, according to new data from the U.S. Census Bureau on Friday. The total figures are the highest since at least 1920, Rigzone reports. A majority of the crude - 324,000 bpd of it - went to Canada, 90,000 more went to Curacao and 36,000 others went to the Bahamas. The figures come almost six months after the U.S. government lifted restrictions on crude exports.
  • Norway Aims To Ban Sales Of Gas-Powered Vehicles By 2025

    06/06/2016 6:03:44 AM PDT · by rktman · 54 replies
    dailycaller.com ^ | 6/4/2016 | Chris White
    Norway has decided to prohibit the selling of all gasoline-powered cars by 2025, according to Norwegian newspaper Dagens Næringsliv. The ban, which has received support from political parties on the left and the right, is pegged to be the most aggressive anti-gasoline energy policies of its kind in the world – the irony, of course, is that Norway is one of the largest producers of fossil fuels in the entire world. Norwegians produced and exported in 2013 more than 1.2 million barrels of oil, placing it 14th overall on a list of exporting countries, just below Qatar and Mexico. India...
  • “Fueling” Freedom Against the Crazy “Green” Left

    06/05/2016 9:45:17 AM PDT · by rktman
    townhall.com ^ | 6/5/2016 | Christopher N. Malagisi
    In a sharp rebuke of the radical left environmentalist agenda, famed writer and Heritage Foundation scholar Stephen Moore delivers the intellectual blow necessary to take down the “Green” agenda in his new book, Fueling Freedom: Exposing the Mad War on Energy. Using hard facts and statistics to make his case, his goal is to achieve an American Declaration of Energy Independence and make America energy independent by 2020.
  • The Columbia River Treaty could mean the death of Idaho

    06/04/2016 3:59:20 PM PDT · by Twotone · 29 replies
    Idahoans for Liberty ^ | June 2, 2016 | Karen Schumacher
    With the new United Nations (UN) and federal government grand plan to steal what remains of our land through the ruse of ecosystem management, there is one grand daddy that will take all of Idaho in one fell swoop. In 1944 the United States and Canada began talks to jointly manage the Columbia River which crossed the border. Both came to an agreement in 1961 creating a treaty that would provide flood control, generate hydropower, and meet irrigation needs. This treaty, known as the ColumbiaTreaty, was finalized in 1961 and implemented in 1964. Because the river crossed borders, called transboundary,...
  • Oil Prices Down As OPEC Fails To Agree Output Ceiling

    06/02/2016 8:35:11 AM PDT · by bananaman22 · 10 replies
    Oilprice.com ^ | 02-06-2016 | Nick
    The much anticipated OPEC meeting in Vienna on June 2 ended pretty much as expected: the group once again failed to put any production targets in place. Without a ceiling on output, all OPEC members will continue to produce as they see fit, leaving the oil market to sort itself out. The result was largely anticipated, given the lack of agreement at several prior meetings. However, the meeting in Vienna was not without some news. OPEC members managed to agree on several small bore issues, which could be viewed as a modest success, especially after the apparent hostility on display...
  • TransCanada Responds to Trump's Vow to Take a Cut of Keystone Profits

    06/02/2016 10:35:34 AM PDT · by Rio · 33 replies
    ChemInfo ^ | June 3, 2016 | Andy Szal
    Officials from TransCanada last week echoed Donald Trump's support for the Keystone XL pipeline, but the company was far less enthused about his vow to take "a piece of the profits." The Canadian energy giant sought federal approval for the pipeline, which would connect a network running between Canadian oil sands and Gulf Coast refineries, for nearly nine years before President Obama rejected its application late last year. The project came to symbolize the partisan battle over environmental issues in Washington, and Trump referenced the pipeline among a slew of proclamations in a speech to North Dakota petroleum executives last...